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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.

2012 Dodge Viper concept shown to dealers looks like an Alfa

The 2012 Dodge Viper concept resembled the Alfa Romeo 8C Competizione with a Viper face, a source said. The Competizione is a limited-edition supercar that was sold in select Maserati dealerships in North America. In 2009 Alfa Romeo brought 84 coupes and 35 Spiders to the United States for sale in seven Maserati dealerships.

Mercedes-Benz to attempt longest-ever powerslide

Mercedes-Benz aims to top the current world record for the longest-ever powerslide this weekend at the Brooklands circuit in Surrey in the United Kingdom. Mercedes driver Mauro Calo will spend about four minutes sliding either an E63 or a C63 AMG sedan in a 55-mph, third-gear drift. The goal is to rack up 10,000 feet (nearly two miles) sideways, obliterating the existing record of 8,000 feet.