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Michelin Challenge Design 2012 'City 2046: Art, Life and Ingenuity' – The Finalists

The jury of the 2012 Michelin Challenge Design has selected and released images of its 27 finalists, chosen from a huge number of designs submitted by aspiring automotive designers. The competition's theme, ‘City 2046: Art, Life and Ingenuity', saw more than 1,700 registrants representing 88 countries which left the jury reviewing over 200 projects. Michelin set all participants a challenging brief, calling for designs for a "desirable, safe and sustainable personal vehicle" specifically for Los Angeles, Mumbai, Paris, Rio de Janeiro or Shanghai.

Peugeot-Citroen signs £1.3bn rescue deal

French car manufacturing giant PSA Peugeot-Citroen has signed a £1.32 billion deal with Chinese carmaker Dongfeng Motors and the French government to secure its future. The far-eastern firm and the French government will each invest €800 million (around £660 million). Both organisations will receive a 14% stake in the business.

Hyundai to guarantee trade-in values

Starting May 1, Hyundai Motor Co. will guarantee the future trade-in value of its new vehicles. When a consumer buys a new vehicle from a Hyundai dealership, the company will guarantee what the trade-in value of that vehicle will be after the second full year of ownership through the fourth year.