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News watch February 2012: 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 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.

Gemballa's body found in South Africa

The body of car customizer Uwe Gemballa, who had been missing for eight months, has been found in South Africa. He was 54 at the time of his disappearance. Gemballa had traveled to South Africa in February on a business trip regarding the opening of a dealership in Johannesburg, according a Reuters report.

2014 Volkswagen Beetle priced at $21,115

The 2014 Volkswagen Beetles are scurrying into dealerships as we speak. The base 1.8-liter turbo model will start at $21,115, including an $820 destination charge, while the convertible will start at $25,990. The hardtop comes with manual transmission; the cabrio gets a six-speed auto.