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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.

Concept Car of the Week: Audi Rosemeyer (2000)

When the Volkswagen group opened Autostadt in June 2000, rumors of a mysterious prototype drew the crowds in the Audi Pavilion. The German brand unveiled an impressive concept that crystallized its latest design philosophy, while also nodding to its glorious racing history. Designed under Peter Schreyer's supervision, the rounded volumes of the Rosemeyer are animated with precise geometric details expressing quality, rationalism and honesty – the foundations of Audi Design.

Volkswagen give the VW XL1 Ducati power

Volkswagen give the VW XL1 Ducati power It’s more than two years since Volkswagen rolled out the VW XL1 Super Efficient Vehicle as a demonstration of how light weight and low power can make for extremely economical motoring. But the silly mpg VW quoted for the XL1 – 313mpg – comes at a fairly horrible price, with the news at Geneva this year that the XL1 is heading for limited production, but with a price tag likely to be around £100k. Bit it seems that VW has found a new use for the XL1, and this time it’s not about extreme economy but more about real performance.