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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.

Ferrari F70: First Photo

We have what appears to be the first photo of the Enzo replacement - the Ferrari F70 – taken at a private viewing for Ferrari clients in China. Despite expectations that the new Ferrari F70 would be revealed before the end of 2012 – which is what Ferrari boss Luca di Montezemolo told us – we still haven’t had the reveal of the F70 in any form, and certainly not at the Los Angeles Auto show, where we expected Ferrari to debut their new hypercar as it’s the last motor show of note for 2012. It now looks like – short of a non-motor show reveal – that the new F70 will bow in at Detroit in January, but ahead of that it seems Ferrari are already showing the F70 to select clients.

Range Rover Evoque Autobiography Dynamic gets 281bhp. Debuts at Geneva

Range Rover Evoque Autobiography Dynamic (pictured) gets 281bhp We’ve been expecting Land Rover to deliver a proper performance version of the Range Rover Evoque, even more so with the arrival of the impressively performing Porsche Macan. But if this new Evoque – the Range Rover Evoque Autobiography Dynamic – is the ultimate  performance version of the Evoque it’s not going to stand up on-road to the new Macan, even if it does look a lot better. Still, extra power and more goodies is never a bad thing, so an Evoque with 281bhp and more equipment is not to be sniffed at, even if it’s likely to cost £50k or more.