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News watch December 2012: 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-hour Monday 31 December 2012• Despite reports earlier this month that shareholders valued Mercedes-Benz at half that of its luxury rival BMW, Mercedes CEO Dieter Zetsche has remained bullish about his ambitious targets for the carmaker's growth. 'I am confident that we will be ahead of our rivals by 2020 at the latest,' he told German newspaper Boersen-Zeitung in an interview.

2012 Ford Focus ECOnetic revealed

The 2012 Ford Focus ECOnetic raises the bar on economy & emissions With the 2011 Ford Focus now hitting showrooms and the roads, we can start to look forward to the usual ‘secondary’ reveals for the range – the ‘Eco’ and the ‘Quick’. Next year should see the launch of the 2012 Focus ST, and it will definitely see the launch of the 2012 Ford Focus ECOnetic, details of which have been revealed this morning by Ford. Building on the previous Focus ECOnetcic, Ford has managed to take an axe to emissions (cutting them to just 95g/km) and to fuel usage (Ford reckons 80mpg) which is better than any other car in its sector in Europe.

Mitsubishi to sell Renault-based midsized car in US

Mitsubishi Motors Corp. plans to sell a Renault-based midsized car in the United States under a new strategic tie-up between Mitsubishi and the Renault-Nissan alliance. The car will be the first of two Renault-based sedans sold by Mitsubishi under a product and technology exchange announced by the companies today.