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News watch October 2011: 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-hourMonday 31 October 2011• The two companies planning to buy Saab - China's Youngman and Pang Da - have agreed to pay a €50 million bridging loan, court documents show. And they are pledging €610m in long-term funding from 2012, according to ANE (Automotive News Europe)  • Martin Winterkorn, the CEO of the Volkswagen group, says he is pleased with the performance of Seat and Skoda.

Spied! 2012 Chevrolet Camaro Z28

The king of Camaros lives. Spy shooters have captured the 2012 Chevrolet Camaro Z28 during testing, and this monstrous red demon is wearing huge tires, dual exhaust and performance fascia. But this mule also has a telltale engine marking: a strip of paper indicating the venomous 6.2-liter supercharged V8 is underhood, and this particular example is using a slushbox.

N.J. decal law upsets teens, parents

A New Jersey law--the first of its kind in the country--requiring drivers younger than 21 to put a small red decal on their license plates has both teens and adults upset, according to a story on the Wall Street Journal Web site. When one mother took her 16-year-old to the Motor Vehicle Commission for a learner's permit, the clerk told her she needed to buy red decals for her daughter. "When hell freezes over, I'll buy those stickers," she told the Journal.