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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.
Ferrari F150 / New Enzo teased. But which bit? UPDATED
Sat, 02 Mar 2013Ahead of a reveal in a few days time, Ferrari are teasing the new F150 / Enzo. But what exactly is the teaser photo showing? Update: Ferrari are making up for lost ‘tease-time’ with yet another tease photo for the F150 (in the picture gallery above).
Smart to sell Nissan-built car in U.S. in 2011
Wed, 06 Oct 2010The U.S. distributor of Smart cars says it has a tentative deal with Nissan to sell a small, five-door car built by the Japanese automaker under the Smart brand, beginning in late 2011. Smart USA Distributor LLC, which is owned by Roger Penske's Penske Automotive Group, said the car would be powered by a gasoline engine and fit the B-segment size class.