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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.

New Hyundai i10 will cost from £8,345 – the same as the old i10

The New Hyundai i10 (pictured) will cost from £8,345 – the same as the old i10 The 2014 Hyundai i10 – the new generation of Hyundai’s supermini – arrived officially at the Frankfurt Motor Show last month, and manages to offer a lot more than the old i10. Despite growing in size, getting better looking and offering more, not just in terms of size, than the current/last i10, Hyundai are starting pricing for the new i10 at the same level as the old model – £8,345. The new i10 will come with a choice of two petrol engines – the 1.0 litre 3-cylinder with 65bhp and 0-62mph in 14.9 seconds and the 1.2 litre with 86bhp and a 0-62mph of 12.3 seconds – as well as a choice of three trim levels – S, SE and Premium.

Design your own Caterham

Caterham Cars will soon be creating its next new vehicle, but it won't be designed by its design team. The new car will instead have the design conceived online by the public. The manufacturer of the Seven is offering every car enthusiast, irrespective of engineering skill, design experience or mechanical ability, a dream opportunity to design an all-new sports car in collaboration with Project Splitwheel.