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News watch February 2012: today's auto industry news
Wed, 29 Feb 2012Welcome 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 February 2012• Following on from yesterday's news of a cross-holding between PSA and GM, it now appears that Peugeot Citroen would offer a €1bn rights issue to create cash and strip back jobs as part of its proposed alliance with GM (Automotive News Europe) • The Bloomberg Riskless Return Ranking, a survey of investor performance, suggests that Kia has outperformed all 22 other car makers with a risk-adjusted return of 9.2% in the past five years. Second highest was Hyundai, whose shares rose 4.8% in the same period (Bloomberg)• Fisker has a new chief executive officer, as founder Henrik Fisker moves to executive chairman. The new boss is Tom LaSorda, the former top man at Chrysler pre-bankruptcy (Fisker)Tuesday 28 February 2012• General Motors is in talks to buy a 5% to 7% stake in PSA Peugeot Citroen, according to reports by news agencies Bloomberg and Reuters.
Art installation moves 100,000 toy cars an hour
Tue, 04 Mar 2014IT'S NO PICASSO, but this installation by conceptual artist Chris Burden certainly has the potential to be moving. Called Metropolis II, this amazing construction took Chris and his chief engineer four years to design and create and expands significantly on Metropolis I - the latest version has 18 roadways including one six-lane carriageway. It also has a rail network with HO-scale model trains, and running at capacity it pumps 100,000 cars around its network at a scale speed of 230mph.
Porsche Cayenne (2011) undisguised
Sun, 10 Jan 2010The Porsche Cayenne 2010 / 2011 undisguised is ready for a launch at Geneva in March We’ve seen spy shots of the 2011 Porsche Cayenne on a pretty regular basis over the last year as Porsche works to fettle the new Cayenne before a launch at the Geneva Motor Show in March. But with that debut looming we now see shots of the new Porsche Cayenne out and about all but undisguised. Porsche are attempting to address criticisms of the current Cayenne by making the new Cayenne a much more road-focused car and by shedding weight from what is, by any standards, a heavyweight SUV.