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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.

Honda goes social with the Sounds of Civic songwriting contest

It seems all automakers are tapping the social-media networks these days. From the Ford Mustang Mayhem package to the Toyota Prius plural campaign, conventional wisdom is there's nothing a few thousand Facebook fans can't handle. The latest automaker to hop the train is Honda, which is sponsoring a creative songwriting competition called the Sounds of Civic to mark the debut of the 2012 Honda Civic.

Renault working on 141mpg plug-in hybrid concept

Renault is working on a 141mpg plug-in hybrid concept car to be shown at the 2014 Paris Motor Show, according to Renault head of research, advanced studies and materials, Remi Bastien. Speaking to at Renault’s ‘Innovations’ event last year – showcasing the French manufacturer’s new technology that will underpin its next-generation models – Bastien revealed the new car will make its debut in 2014. On Bing: see pictures of Renaults Find out how much a used Renault costs on Auto Trader This means the ‘2l/100km’ concept car will likely make its first public appearance at Renault’s home Paris Motor Show in October, debuting experimental technology that could later filter down to other models in the Renault range.