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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.

2013 Peugeot RCZ facelift priced from £21,595

The facelift for the Peugeot RCZ – revealed at the Paris Motor Show – will cost from £21,595 when it arrives in January 2013. The main change for the RCZ is the loss of the old ‘big gob’ Peugeot nose, to be replaced by a much more appealing front that fits in with the rest of Peugeot’s current crop of cars, complete with LED running lights, new grill and headlights and a bigger air intake with chrome bars. As well as the more obvious changes to the exterior, the RCZ gets some minor interior tweaks, with the Sport spec getting auto lights and option of half leather and leather/Alcantara. The GT spec RCZ gets a few more changes including 19″‘Technical’ alloys, interior sports kit, new interior colours, the option of matt black roof arches, new body transfer decals and more alloy choices.

Renault 4 Ever design competition

DesignBoom has teamed up with Renault to create a unique design competition. With the Renault 4 entering its 50th year, the aim of the competition is to redesign and recreate the classic R4. The free-to-enter competition is open to anyone, not just design students and professionals.