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News watch April 2011: today's auto industry news

Come 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 28 April 2011• Due to UK royal wedding national public holidays, CAR Online news coverage will be reduced until CAR reopens on Tuesday 3 May (CAR)• The Saab financial situation continues to develop. Both the Swedish National Debt Office and General Motors are said to have given their approval for the proposed lease-back sale of Saab property to investor Vladimir Antonov.

Button Confirmed For Festival Of Speed

IT’S BEEN announced that 2009 Formula 1 World Champion Jenson Button will return to the Goodwood Festival of Speed on June 26-29, where he is expected to provide one of the event’s star attractions. Button is no stranger to the Festival of Speed and has attended 14 times previously, driving machinery as diverse as a 1970 Can-Am McLaren M8D, a P1 supercar and Alain Prost’s 1986 title-winning grand prix car. This year, McLarens attending the event include M23, MP4/2 and MP4-26 Formula 1 machines.

Toyota Unveils new Prius at Detroit Auto Show: Bigger, with more power and less weight

Toyota introduced its third-generation Prius at the Detroit Auto Show with an extensively re-engineered hybrid drivetrain. Ninety percent of the Prius's hybrid synergy drive system has been redesigned, with the focus on weight reduction. The lighter components include the transaxle to cut down on torque loss, inverter with direct cooling and smaller motor.