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News watch October 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-hour Friday 29 October 2010• Spyker has announced third-quarter losses have increased since its takeover of Saab. Spyker lost £35 million in 2010, compared to £3.6 million last year (BBC News)• GM will repay $2.1 billion of the Obama government's preferred stocks.

Hyundai Suicide ‘Advert’ causes a rumpus

It’s not easy advertising your wares and finding the right balance between mainstream and innovative to capture attention, as Hyundai has found out to their cost with an ‘advert’ for the hydrogen powered ix35 FCEV which, rather distastefully, depicts a man trying to commit suicide by running a hose from the tailpipe to the cabin before realising he can’t achieve his aim as the FCEV’s only emissions are water. It’s a proper cock-up from Hyundai – usually so sure-footed with their PR – but, despite Hyundai US putting the blame at the door of Hyundai UK, there’s more to this suicide ‘advert’ than meets the eye. It seems the suicide video was put together by Innocean – a European Ad Agency owned by Hyundai’s Chairman Chung Mong-koo and his daughter, and responsible for much of Hyundai’s marketing output – and was a clumsy attempt to gauge reaction to the somewhat macabre take on the benefits of an FCEV.

Glass’s Guide Luxury Cars price crash

I think we all knew it was happening, but Glass’s guide, the trade bible for used car values, has confirmed that luxury cars in the UK have fallen out of bed in a big way. Comparing luxury diesel saloons with a year ago, they say that average values have dropped by a massive 21%. And in pure money terms the top end coupes, such as the Porsche 911, have fallen by 18%.