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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.

Caterham CSR 175 – Tokyo Catchup

The CAterham CSR 175 revealed at Tokyo We reported a few weeks ago that with the economic crisis still enveloping car makers round the world the Tokyo Motor Show was going to be almost exclusively domestic. Just Lotus – who brought the limited edition Lotus Scura – and Alpina – who brought the LWB B7 – were expected to be there to represent the rest of the world. But Caterham – inheritors of Colin Chapman’s Lotus 7  heritage – took advantage of some cheap floor space and turned up with a new car – the Caterham CSR 175./p> The CSR is Caterham’s top of the range, and this CSR 175 slots in as the bottom of the top – if that makes sense.

New Porsche Cayenne Turbo S (2013) arrives

Porsche has revealed the 2013 Cayenne Turbo S, the range topping Cayenne with an extra 50bhp and a £107.5k price tag. The 2013 Porsche Cayenne Turbo S has been revealed with a few subtle cosmetic changes and an extra 50bhp and 37lb/ft of torque to add to the Cayenne Turbo’s 500bhp and 516lb/ft. Porsche has released the extra 50 horses in the Turbo S by making the inlet manifold more-free flowing, turning up the boost a bit and plugging in their laptops to have a fiddle, the result of which is a 0-62mph of 4.5 seconds and a top speed 3mph more.