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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.
BMW poaches designer from Mercedes-Benz
Tue, 14 Dec 2010Karim Habib is returning to BMW to take over as head of exterior design, the automaker announced on Tuesday. Habib spent the first 10 years of his career at BMW. During that time he was responsible for designing the exterior of the current BMW 7-series and the Concept CS.
New Audi A1 Sportback: The Five-Door A1 arrives for 2012
Fri, 18 Nov 2011Audi reveals the new A1 Sportback 5 Door With almost two years of sales of the ‘Only Premium Car in its Class’ (Audi’s assertion), Audi has revealed the more practical version of its smallest car – the five-door Audi A1 Sportback. Visually, the five-door A1 looks just the same as the three-door A1 – with the obvious addition of a pair of back doors – but Audi has managed to 6mm in height and width which, they say, improves room in the back. Which it may, but as the length and wheelbase remain the same it won’t do anything for legroom.