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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.

Value-Added New Focus Keeps Asking Price In Check

WITH the launch of Ford’s new Focus just around the corner, the Blue Oval firm has announced that prices will start from £13,995 - the same as today’s Focus, with top Titanium and Titanium X versions costing £100 less than the outgoing equivalents. The new Focus range retains a six-series line-up of Studio (from £13,995), Style (£16,795), Zetec (£18,295), Zetec S (£20,045), Titanium (£19,795) and Titanium X (£21,795). According to Ford, the new Focus builds on its reputation for technology, which since 2011 has featured automated parallel parking, Active City Stop low-speed collision avoidance, Traffic Sign Recognition to monitor and record road signs and Blind Spot Information System, as optional equipment.

General Motors to invest more than $850 million to build new V8s

General Motors Co. said Tuesday it will invest more than $850 million to upgrade five North American factories to make its next-generation V8 engines more fuel efficient. The new V8s will differ from the current versions by using direct injection and a new combustion system, spokeswoman Sharon Basel said.