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First Sight: BMW 1 Series

This is the first BMW to compete in the premium lower medium European car class defined by cars such as the Audi A3 and Alfa Romeo 147, although spiritually it follows the significantly smaller BMW 2002 Touring produced from 1968 to 1976. A little more compact that the 3 Series (which will grow in size with next year's new model) the 1 Series effectively replaces the 3 Series-based Compact and extends the brand downward to just above the Mini. The 1 Series was previewed by the CS1 two door convertible concept shown two years ago at Geneva, with which it shares much of its exterior proportions and form, and some interior design themes.

Peugeot-Citroen signs £1.3bn rescue deal

French car manufacturing giant PSA Peugeot-Citroen has signed a £1.32 billion deal with Chinese carmaker Dongfeng Motors and the French government to secure its future. The far-eastern firm and the French government will each invest €800 million (around £660 million). Both organisations will receive a 14% stake in the business.

Chrysler is set to invest $500 million in Toledo Jeep assembly plant

Chrysler Group plans to invest $500 million in its Toledo North Assembly Plant and hire a second shift of workers over the next year to build a new Fiat-based SUV for Jeep, as well as other vehicles. "This plant has been chosen to build the future Jeep SUV to replace the current Jeep Liberty that will be exported to markets all over the world," CEO Sergio Marchionne said at the plant Wednesday. "Jeep is at the heart of our plans to internationalize Chrysler, a process which is being accelerated by Chrysler's access to Fiat's distribution capabilities in Europe and Latin America." Toledo North is Chrysler's only assembly plant with only one shift of workers.