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Ferrari to revive GTO name

Ferrari is set to return the evocative GTO (Gran Turismo Omolagato) name to its lineup on a limited-edition, two-seat version of the F599 Fiorano GTB. The new car, conceived to run bodywork and mechanical components from the Italian carmaker's race-bound 599XX, is expected to make its public debut at the Paris motor show in September--marking the first time the GTO badge has been applied to one of Ferrari's road cars since the launch of the much-revered 288 GTO in 1984. Among the changes brought to the new car is a series of carbon-fiber exterior panels, a stripped-out interior and specially developed alloy wheels--all aimed at lowering the weight by 132 pounds from the 3,718 pounds of the F599 Fiorano GTB.

News watch November 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 Tuesday 30 November 2010• Fiat and Opel have signed an agreement whereby Fiat will supply vehicles comprising of several variants to Opel, commencing December 1 (Fiat)• Electric cars will make up 20 per cent of UK car sales by 2016, according to National Grid CEO Steve Holiday (Automotive News Europe)• Toyota has said it will repair 650,000 Prius models worldwide because of a fault with the coolant pump (BBC News)• Porsche look likely to succeed in persuading preferred shareholders to support a €5 billion stock sale becuase the deal may offer the chance to buy into Volkswagen at a discount rate (Bloomburg)• China will become Rolls Royce's biggest market, surpassing America as early as 2011 (Automotive News Europe)  Monday 29 November 2010• Bentley has appointd a new CEO to succeed Franz-Josef Paefgen, who's retiring. Porsche R&D director Wolfgang Dürheimer, 52, is now chairman and chief exec of Bentley Motors and Bugatti (Bentley)• In return, Porsche has replaced Dürheimer with Wolfgang Hatz, an internal appointment.

Toyota Matrix likely to be dropped

Toyota will roll out Tundra and Corolla redesigns next year and will revise the RAV4, Avalon and Highlander, but there are some things the division probably won't do. For example, there is a strong possibility that the Corolla-based Matrix hatchback will not be renewed for the United States when the Corolla redesign comes next fall. "If we don't have the Matrix, it won't be the end of the world," said Toyota Division boss Bill Fay at the press introduction of the RAV4 in Phoenix.