Si-tex Hdk11 Rate Gyro Compass Hdk-11 on 2040-parts.com

News watch December 2010: 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-hourFriday 31 December 2010• A judge in Manhattan has dismissed two lawsuits from hedge funds claiming for $2bn losses when it bought VW shares in 2008. Elliott Associates LP, Black Diamond Offshore and 39 other funds filed a complaint, claiming Porsche misled short-sellers who hadn't realised that Porsche had cornered the market in VW shares (Automotive News)Thursday 30 December 2010• Volvo plans to hire an extra 200 staff as it claims demand for its cars is rising.

Saab 9-5: New model leaked

Saab's flagship sedan, the 9-5, is finally getting a dramatic re-do, and pictures are out on the Web in advance of its expected reveal at the Frankfurt motor show. It's a handsome effort, with an upright windshield, prominent grille and sleek headlight casings. Look for all-wheel drive and a range of engine selections.

Chris Bangle begins work with Changan Automobile on its design strategy and methodology

Chris Bangle is to consult with Changan Automobile to help develop its design strategy and processes in his first official automotive project since leaving BMW in 2009. Bangle – through his company Chris Bangle Associates (CBA) – will work with Changan's team in its European design center in Turin, Italy, reporting to design director Chen Zheng. And while his role will be linked to the brand's Chinese products, his focus will be on the design team's methodologies and philosophy; its management and its process of critique, rather than the hands-on design of its products.