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News watch April 2011: today's auto industry news

Come 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 28 April 2011• Due to UK royal wedding national public holidays, CAR Online news coverage will be reduced until CAR reopens on Tuesday 3 May (CAR)• The Saab financial situation continues to develop. Both the Swedish National Debt Office and General Motors are said to have given their approval for the proposed lease-back sale of Saab property to investor Vladimir Antonov.

Porsche Cayman R (2010) first official pictures

This is the new 2010 Porsche Cayman R, the lightest and most powerful version yet of Stuttgart’s mid-engined sports car, and the closest it’s ever been allowed to get to the hallowed 911. Over and above the Cayman S, the Cayman R has a mere 10bhp more, taking the total to 325bhp – the torque figure is unchanged at 272lb ft. Much more impressive (and important) are the weight reductions: the Cayman R is 55kg lighter than the Cayman S.

Design Contest: Peugeot Design Contest 2007 winner announced

The 'Flux' concept by Mihai Panaitescu, a Romanian design student studying in Turin, has been announced as the winning project in the fourth Peugeot Design Contest. The runners up in second and third places were 'Njooy' (Wesley Saikawa from Brazil), and 'Allscape' (Gustavo Ferrero from Venezuela). At 20 years old, Mihai is the youngest ever winner of the Peugeot Design Contest.