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Michelin Challenge Design announces 2014 theme: ‘Driven/Undriven: The Duality of Tomorrow’s Automobiles’

Michelin has announced the theme for the 2014 Michelin Challenge Design competition – ‘Driven/Undriven: The Duality of Tomorrow's Automobiles'. Participants will explore the human-to-vehicle connection, focusing on how this can evolve automotive design. The exploration of autonomous vehicles has gathered pace in recent years, with Toyota displaying its autonomous Lexus car at the recent CES in Las Vegas, while other carmakers and even Google have been investing heavily in the concept.

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.

News watch October 2012: today's 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-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.