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News watch Sept 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-hour Wednesday 29 September 2010• Porsche today posted record turnover, off the back of rising sales. It announced an 18% leap in annual turnover to €7.8 billion while sales rose 9% to 81,500 vehicles, up from 75,238 the previous year.

Europe's Car of the Year 2011 shortlist announced

The 41 contenders for Europe's 2011 Car of the Year trophy have been whittled down to the final seven as the European CoTY shortlist is announced today. The winner will be voted for by 59 of Europe's most influential motoring journalists, including two CAR writers: editor Phil McNamara and European editor Georg Kacher. The 2010 winner - by just 10 points ahead of the Toyota iQ - was the Volkswagen Polo. Like the Eurovision Song Contest, Car of the Year has proved controversial in the past with accusations of block-voting and blind patriotism, yet the award remains one of the most prestigious in the motor industry.

Read the Spyker Cars press release announcing the purchase of Saab from GM

PRESS RELEASE: GENERAL MOTORS AND SPYKER CARS REACH AGREEMENT ON SAAB -- GM and Spyker Cars announce a binding agreement over the transfer of ownership of Saab -- Terms are agreed and the deal is expected to close in February -- Saab's future as an independent company is secured -- Saab will exit the orderly wind-down process -- Spyker shareholders will restructure at closure of the deal -- Swedish Government issues guarantee in favour of EIB ZEEWOLDE, The Netherlands (26 January, 2010) -- General Motors Company and Spyker Cars N.V, today confirmed the details of a binding agreement over the transfer of ownership of Saab Automobile AB of Trollh