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News watch October 2011: 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-hourMonday 31 October 2011• The two companies planning to buy Saab - China's Youngman and Pang Da - have agreed to pay a €50 million bridging loan, court documents show. And they are pledging €610m in long-term funding from 2012, according to ANE (Automotive News Europe)  • Martin Winterkorn, the CEO of the Volkswagen group, says he is pleased with the performance of Seat and Skoda.

Toyota GT86 & Subaru BRZ getting Cosworth Performance upgrades (video)

Cosworth promise power upgrades for the FA 20 engine Ever since the Toyota GT86 and Subaru BRZ arrived as ‘affordable’ sports cars with a focus on the dynamics rather than outright power, there’s been endless claims and rumours that more power is on the way. As far back as 2011, Subaru in the US confirmed that a turbo version of the BRZ’s 2.0 litre FA20 Boxer engine was under development although, to be fair, they didn’t say it was actually heading for the BRZ. And just last year, Subaru teased what we thought could be a more powerful BRZ STI, but that turned out to be a BRZ tS with go faster bits but no more actual power.

Audi R8 V10 – the Commercial

Audi R8 V10 features in an Audi commercial cruising through Marenello - home of Ferrari It features a new Audi R8 V10 cruising through Maranello, home of Ferrari, and features the reactions of the locals. No punches pulled; no skirting round Audi’s opinion. This blows Ferrari away, they believe, and they’re happy to shout it from the rooftops.