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Audi to build cars in North America

Audi AG has decided to build a vehicle-assembly plant in North America and is considering an additional engine and transmission plant. Volkswagen Group's premium brand is completing details of the assembly plant--including models, location and capacity. Audi CEO Rupert Stadler said all decisions will be made within three years.

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.

SECOND-HAND CAR MARKET REVS UP

THE SECOND-HAND car market is accelerating again, according to latest figures. A total of 1.8 million used cars were sold in the period July to September 2010 - a 4% rise on the same period in 2009, statistics from information services company Experian showed. The summer 2010 figure was 1.1% higher than the figure for the previous three months of April-June 2010.