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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.

Volvo XC60 Plug-in Hybrid concept car (2012) first pics

Volvo will showcase its latest plug-in hybrid technology in the new 2012 XC60 Plug-in Hybrid concept car at next week's Detroit auto show. The Swedes have been developing a range of plug-in hybrid cars, using both petrol and diesel. The hybridised V60 which goes on sale in Europe later in 2012 uses diesel, whereas the new SUV drinks from the green pump.

GMC extends Denali trim to 2011 Sierra 3500

More Denali. That's what GMC says heavy-duty truckers want, and that's what the truck maker aims to give them. GMC announced on Friday that the Denali trim will be added to the 2011 Sierra 3500 model in several configurations.