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Porsche to add 1,000 employees

To keep pace with its planned model expansion and sales targets, Porsche AG will add more than 1,000 employees by 2015, Automotive News Europe has learned from Volkswagen Group sources. About 500 jobs will be added for production of Porsche's new compact SUV, codenamed the Cajun, which will go on sale in 2013 in Europe and in North America about six months later. Porsche's supervisory board will make a decision on the production location of the Cajun in mid-March.

General Motors CEO Rick Wagoner out, replaced by COO Fritz Henderson

General Motors chairman and CEO Rick Wagoner has agreed to "step aside" after pressure from the Obama administration last week, ending his eight-year tenure at the helm as the company seeks additional federal aid. He's been replaced by GM President and COO Fritz Henderson, effective immediately. GM confirmed the moves shortly after midnight Monday.

Peugeot 208

Peugeot today unveiled the all-new 208, which will replace the 207 in spring 2012. Entirely new from the ground up, the French firm's latest B segment model is said to ‘represent a true generation leap' over its predecessor and embody ‘the principles of agility and efficiency'. "The strength of the 208 lies in its style: it is a real ball of energy," says Peugeot's design director, Gilles Vidal.