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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.
Autoweek archives: A fast week in the Bahamas
Fri, 30 Sep 2011From the archives of Competition Press comes a page from the December 1963 issue, which covered multiple events hosted during the Nassau Speed Week in the Bahamas. For 13 years in the 1950s and ‘60s, the Bahamas were the place where professional drivers from around the world came to relax, race and party together. Originally intended to draw tourism to the island of New Providence, the Nassau Speed Week became a highly enjoyed week for all those in attendance.
Four guilty over 'crash for cash'
Thu, 26 Sep 2013A GANG that deliberately crashed a 12 tonne bus with 26 passengers on board as part of a huge "crash-for-cash" scam, has been described as a "a professionally-planned, highly-organised group" by police. Officers were speaking after four people were found guilty at Sheffield Crown Court of playing a part in a fraud conspiracy worth almost £500,000. Seven other people had already pleaded guilty.