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News watch December 2012: 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 Monday 31 December 2012• Despite reports earlier this month that shareholders valued Mercedes-Benz at half that of its luxury rival BMW, Mercedes CEO Dieter Zetsche has remained bullish about his ambitious targets for the carmaker's growth. 'I am confident that we will be ahead of our rivals by 2020 at the latest,' he told German newspaper Boersen-Zeitung in an interview.

One Lap of the Web: Rally to Goodwood, Utah raises speed limits and Jeeps in Iceland

-- Today's vehicles are more than capable of safely exceeding the speed limit. This isn't any secret to us, but apparently lawmakers are just starting to clue in; Utah has joined a slowly increasing number of states in raising some speed limits to 80 mph. Their justification?

One Lap of the Web: The Internet celebrates the Mustang

Fifty years ago, Muhammad Ali became the heavyweight champion of the world, "Jeopardy!" debuted, Lockheed went 2,000 mph with the YF-12 and a mop-topped band went on a television show to promote what would be shameless nostalgia for the next 50 years, even while it was happening. Oh, and Ford introduced the Mustang, an event that would be Lee Iacocca's Second Greatest Shining Moment, behind introducing Chrysler's TC by Maserati as the prettiest Italian to arrive stateside since his mother. The World's Fair was 50 years ago this week, and the Internet remembers what it was like when the Mustang came out.