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News watch December 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourFriday 31 December 2010• A judge in Manhattan has dismissed two lawsuits from hedge funds claiming for $2bn losses when it bought VW shares in 2008. Elliott Associates LP, Black Diamond Offshore and 39 other funds filed a complaint, claiming Porsche misled short-sellers who hadn't realised that Porsche had cornered the market in VW shares (Automotive News)Thursday 30 December 2010• Volvo plans to hire an extra 200 staff as it claims demand for its cars is rising.

New Porsche Boxster GTS – now on video

The new Porsche Boxster GTS struts its stuff on video Last week, Porsche revealed a new range-topping Boxster – the Boxster GTS – together with a new Cayman GTS, and appealing, range-topping versions they are too. Now we get the first video of the Boxster GTS, and we have to say it does underline just how appealing the Boxster now is. Yes, many consider the Boxster the Porsche for the buyer who can’t afford a 911.

Hyundai sees 10 percent mpg gain from its first direct-injection engine

Hyundai Motor Co. on Tuesday unveiled its first direct-injection gasoline engine, saying it delivers more power with a 10 percent improvement in fuel economy. The 2.4-liter engine, called the Theta II, will debut in the redesigned Sonata sedan, due in U.S.