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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.

Mercedes G-Class by Vilner – fit for Cinderella

Mercedes G-Class by Vilner Bulgarian tuner Vilner has taken the Mercedes-Benz G-Class, re-trimmed it and made it in to an off-road carriage fit for Cinderella. It must be pantomime season when car makers (well, car tuners in the shape of Bulgaria’s Vilner) send out a press release for a product with half of it taken up with references to Cinderella. Yes, it seems the new Mercedes G-Class by Vilner is a carriage for for Cinderella.

MINI gives the London Philharmonic the patriotic horn

MINI has teamed up the 2012 MINI London Edition with the London Philharmonic to create a MINI horn National Anthem. The London Philharmonic Orchestra has just finished the mammoth task of recording 205 National Anthems for the 2012 London Olympics, but this is one National Anthem that won’t be wafting across East London in the next month. The London 2012 Olympics are MINI’s marketing method of choice at the moment, so they took nine MINI London 2012 Editions – in a mix of Red, White and Blue – tuned their horns and roped in nine musicians from the Philharmonic’s horn section to toot in time.