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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.

Pagani C9 mule spied

The Pagani C9 testing in South Africa - image from Easycarblog A couple of weeks ago we reported that Horacio Pagani had been talking about the new Pagani C9 to the Argentinian press. The C9, in case you didn’t know, is Pagani’s replacement for the Zonda and is due to be revealed alter this year. The Pagani C9 will feature an all new, Mercedes-built 6.0 litre bi-turbo V12 with 700bhp.

VW's new 2011 Eos, replaced by 2014 Passat cab

In early 2011, the facelifted VW Eos arrives. Three years later, it will be replaced by the Passat Cabriolet. No, up in Wolfsburg they don't exactly love the Eos.