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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.

Bentley Continental GT3 – Bentley get back to Motorsport

The Bentley Continental GT3 – a Continental GT prepared for the track – heralds Bentley’s intention to go racing. The Bentley Continental GT3 appears to be a lowered, widened and stripped- out GT with which Bentley plan to return to their roots and a long history of motorsport. whether that means supplying the GT3 as a customer car or a works racing team we don’t yet know.

2012 Mercedes-Benz SLK AMG breaks cover

Mercedes-Benz is adding even more mojo to the SLK roadster for 2012, launching the most powerful version of its long-running sports car. Dressed in AMG trim, the SLK gets an even angrier look and a slew of performance enhancements. But that’s all overshadowed by one omnipotent figure: the 415 hp derived from the naturally aspirated V8.