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News watch February 2012: today's auto industry news
Wed, 29 Feb 2012Welcome 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.
GM adds to coverage for certified preowned cars
Fri, 10 Jun 2011General Motors is changing up its certified used-vehicle program to include two years of oil changes, tire rotations and multipoint inspections, the company said on Friday. The Owner Care program kicks in on June 11 and covers certified preowned Chevrolet, Buick and GMC vehicles. GM will provide Owner Care for two years or 30,000 miles, whichever comes first.
Interior Motives Conference 2012 Day 1
Sun, 22 Apr 2012The annual Interior Motives China conference - this year held in Beijing to coincide with the motor show - was opened by the official Yang Shi Min. He welcomed the many delegates by acknowledging that discussion and debate will be the key element in the future of automotive design. He stated his belief that "discussion gives the opportunity for wisdom to sparkle", and opened the proceedings by encouraging all to share their wisdom with each other.