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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.

Show Review: Salon Privé 2011

Salon Privé is billed as Britain's most elite car show and, with its lashings of pink champagne, lobster barbecue and attendees who look to have taken a wrong turn from the UK scripted-reality show, Made in Chelsea, it's certainly the glitziest. This year Salon Privé moved from its traditional home of The Hurlingham Club, just a (precious) stone's throw from the real-life set of the aforementioned show, to the grounds of Syon House in outer West London. Home to the Duke of Northumberland, Syon House's Italian Renaissance architecture and lush grounds provide a fitting background for such an event although those familiar with the locales of Villa d'Este on the shores of Lake Como, the Goodwood Festival of Speed in the heart of Lord March's idyllic West Sussex estate or the dramatic Californian coastline of Pebble Beach may be disappointed.

Best in Show from Frankfurt

The United States auto industry continues its strong recovery from the near-fatal recession of 2008/9/10. The European auto industry? Not so much.