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Crunch watch Sept 09: the auto industry in crisis

By Tim Pollard Motor Industry 30 September 2009 11:30 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Wednesday 30 September 2009• Mitsubishi's global production in August was 62,924 units, a decline of 32.1% compared to August 2008. It was also the 18th consecutive monthly decrease for the Japanese car company (Mitsubishi)• Fernando Alonso has signed a three-year deal to drive for the Scuderia Ferrari F1 team.

MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

A look at future Cadillacs

Cadillac revealed another take on a future large, rear-wheel-drive car during the Pebble Beach weekend—the ultra-cool Elmiraj four-seater coupe. This is Cadillac's second such concept in a couple years, after it showed the Ciel convertible at Pebble in 2011. Yet we hear that the first production car to ride on the so-called Omega platform will be a sedan scheduled to arrive in 2015 as a 2016 model.