1 Michelin Ltx M/s2 265/65/17 Tire (z23249) on 2040-parts.com

Crunch watch Feb 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Ben Whitworth Motor Industry 02 March 2009 18:11 Monday 2 March• The Volkswagen Group announces a 5% rise in sales revenues in the 2008 tax year and a 3% increase in operating profits, up to €6.3 billion. Chairman Martin Winterkorn said the group's multi-brand strategy and low CO2 cars had helped sustain sales, although he admitted that 2009 would see a fall in demand and revenues (Volkswagen) Friday 27 February• Jaguar Land Rover announces a significant order for 13,000 cars from a Chinese business. It's a morale boost for JLR which has been hit by a slump in demand with the global slowdown (BBC News)• Opel this afternoon agreed to a restructuring plan designed to save as many jobs and factories as possible – but it needs a €3.3 billion lifeline from the state.

And the European Car of the Year 2010 is...

Newsflash: VW's Polo has won the European Car of the Year gong, it was announced today in Madrid. It beat 33 contenders, including six other finalists to the top motoring prize in Europe.The Polo narrowly won with 347 points, putting to rights its trophy-free record in Car of the Year. The runner-up was the innovative Toyota iQ, 10 points behind with 337 points.

007's Lotus Esprit Series 1 submarine car to be auctioned

The famous Lotus Esprit Series 1 submarine car from the “The Spy Who Loved Me” will be up for grabs at RM Auction's Battersea Park, London event slated for Sept. 8 and 9. Every James Bond fan loves the use of Jags, Lotuses and, of course, Astons in the famous franchise, and now you'll have the chance to fulfill your fantasy of being Bond by putting one in your garage -- or at least your boathouse.