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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.

VW to unveil Beetle Dune concept at Detroit Auto Show

The jury is out as to whether Volkswagen's Beetle Dune concept is more Frank Herbert or Bruce Meyers. Equipped with all mod cons, it’s a far cry from the simple, tough desert-race-inspired Bugs that popped up like aggro sandworms during the 1970s. On the other hand, it's still got four gasoline-burning cylinders and two-wheel drive.

First Sight: Citroën C4

 The Citroen C4 is a new car that shall be formally unveiled at the Paris Motor Show in September as the replacement for the Xsara that has been quietly competing in the European C-class for six years. The C4 was previewed in Geneva with the C4 Sport (a WRX themed concept car based very closely on the production 3-door C4) and less directly with the C6 Lignage Citroen concept car of Geneva 1999 which introduced many of the new car's exterior and interior design themes on a larger vehicle concept. Sitting between the C3 and C5 in Citroen's range, the C4 platform will also be shared by Citroen's partner Peugeot for the 307 replacement.