Bendix-king Kt 70 Mod. S Transponder on 2040-parts.com

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.

Ferrari 550 GTZ – For Sale

Just one of the final Zagato Ferraris - the 550 GTZ - is on the market Last month we exclusively reported that Zagato are building what will be the final Zagato Ferrari – the 550 GTZ. Based on the 550 Barchetta just five are being made, and all are sold. In fact – we’re told – three of the cars are already with the buyers.

One Lap of the Web: Semi-truck drifting, quintessential British cars and Jay Leno's Garage

We spend a lot of time on the Internet -- pretty much whenever we're not driving, writing about or working on cars. Since there's more out there than we'd ever be able to cover, here's our daily digest of car stuff on the Web you may not otherwise have heard about. -- When you think of Gymkhana, you normally just think of Ken Block ripping up streets with a Ford Fiesta.