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News watch October 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 Friday 29 October 2010• Spyker has announced third-quarter losses have increased since its takeover of Saab. Spyker lost £35 million in 2010, compared to £3.6 million last year (BBC News)• GM will repay $2.1 billion of the Obama government's preferred stocks.

Nissan hires Magna Steyr to build new entry-level Infiniti car

Nissan said Thursday that Austrian contract manufacturer Magna Steyr will build a new premium compact car for the Infiniti brand, starting in 2014. Infiniti boss Andy Palmer said in a statement that the car will help the brand to reach new consumers and grow in key markets such as western Europe. Nissan did not give any more details about the car or say whether it will be sold in markets outside Europe such as the United States.

Motown rockers Dale Earnhardt Jr. Jr. serve up Horse Power

NASCAR fans looking for a new soundtrack to their auto-racing season can trade in their Lynyrd Skynyrd records for an offering from Detroit-based indie-pop duo Dale Earnhardt Jr. Jr. In a nod to their Motor City roots, band members Josh Epstein and Daniel Zott take the stage wearing racing suits and trucker hats and croon covers of Gil Scott-Heron's “We Almost Lost Detroit.” The band, which is touring the East Coast this week, released an EP titled Horse Power last summer and is coming out with its first full-length album, It's a Corporate World, on June 7.