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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.

Volkswagen launches Car-Net in-car assistance system

Volkswagen has launched an in-car assistance system which will offer a number of convenience and diagnostic features. Not too dissimilar from some other systems already on the market -- such as BMW Assist, Mercedes-Benz'sMbrace, and GM's On-Star -- VW's system will offer roadside assistance, service appointment scheduling, and automatic crash notification. The latter triggers a call from the vehicle to a Car-Net customer specialist when the airbags in the car are deployed, which will then connect the occupants with a local public safety answering point, which can send emergency vehicles to the scene if needed.

Win a Seiko Sportura watch worth £395!

For a decade, Seiko’s Sportura range has acknowledged the link between great timepieces and great cars, with watches inspired by motoring and motorsport. And now you could win one of these fine watches, by answering one simple question: who is the reigning F1 World Champion? Click here to answer the question (it's multiple choice, so it's easy) and enter our competition Like the instrument panel of a sports car, Sportura dials are instantly legible; all have a jet-black background with orange or red hands, and a sapphire crystal with an anti-reflective coating.