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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.

Forecasters see slow auto-sales recovery through 2011

U.S. auto sales in 2010 and 2011 will continue to crawl -- not walk or run -- out of last year's recession, according to forecasters at the Auto Industry Hot Topics Conference here. “It's going to be a long crawl out of this, but we're crawling in the right direction,” said David Wyss, chief economist for Standard & Poor's, which co-sponsored the conference along with J.D.

Cadillac CTS Coupe launches in LA +Video

Cadillac CTS Coupe gets official unveil at the LA Auto Show It’s not long since GM revealed that the CTS was going to spawn a Coupe version to go with the Estate (station Wagon), and even less time since we learned there is a going to be a Coupe version of the CTS-V – the Cadillac CTS-V Coupe. Which is now one step closer to reality with the official reveal of the CTS Coupe at the Los Angeles Motor Show, following on from the CTS Coupe announcement last week. Due to go on sale in Spring 2010 (I suppose we’re back to US model years – does that make it a 2011 CTS Coupe?), the CTS Coupe takes the oily bits from the saloon/sedan and puts them in to a very convincing, muscular coupe that sits lower and wider than its four-door sibling.