2008 Buick Lucerne Sunvisor Passenger Rh Gray Lighted/mirror 2410179 on 2040-parts.com

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.

Koenigsegg One:1 – First official details

We have the first official details on the new Koenigsegg One:1, the most extreme Koenigsegg produced to date, a series of 5 cars for China. The Interwebs have been full of speculation about a new Koenigsegg in the last few days – the Koenigsegg One:1 – which has surfaced after a brochure scan for the One:1 was leaked online (above). The general consensus has been that the One:1 is a new customisation programme for Koenigsegg, allowing buyers to customise their cars in an even more extreme way.

Smart E-Scooter concept (2010) first design sketches

These sketches are our first glimpse at the potential future of Smart. Called the E-Scooter, it's a concept that will be unveiled at the 2010 Paris motor show. No, not a bit of it – there are, in fact, more cars coming too as well.