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Scion announces pricing for 2014 FR-S, tC and iQ

Scion announced pricing Thursday for several 2014 models, including the tC, iQ and a new 10 Series iteration for each Scion model to commemorate the brand's 10-year anniversary. We saw our first glimpse of the 2014 tC, with sharper exterior styling and an upgraded interior, at the 2013 New York auto show. Scion says the tC's updated automatic transmission will shift twice as fast as the outgoing model and includes Dynamic Rev Management technology.

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.

Volkswagen XL1

Volkswagen chose the Qatar motor show to debut its new XL1 Super Efficient Vehicle. The latest evolution of the SEV niche – that stretches back to the 1-liter concept of 2002 – makes extensive use of lightweight materials and hybrid technologies to offer a reported 313mpg. The car's exterior is a clear evolution of the tandem seat L1 from 2009.