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BMW Z4 GT3 (2011) completes testing

BMW Motorsport has released pictures of its upgraded Z4 GT3 race car. The 2011 car has completed testing and is available for customer teams. BMW Z4 GT3: the lowdown The Z4 GT3 may look like a regular Z4 that's been attacked by a boy-racer with a carbonfibre and tea-tray rear wing fetish. But under the skin the Z4 GT3 ditches straight-six power for a 4.4-litre motorsport-tuned V8 engine, hooked up to a six-speed racing transmissionBMW Motorsport takes a regular Z4 coupe-cabriolet body shell, and removes the retractable hardtop, bonnet, bootlid, front and rear wings and the bumpers.

Michelin launches 2012 Challenge Design competition

What began back in 2000 as a forum for people who share a passion for vehicle design and innovation has grown to inspire thousands of entries from 96 countries. Over the past decade, Michelin Challenge Design (MCD) participants have submitted vehicle design concepts for personal and public transport addressing a broad range of geographic themes and industry issues. And now, as the 2011 program draws to a close, MCD has announced the 2012 program, which opens for pre-registration from October 1, 2010 to March 4, 2011.

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.