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Crunch watch Mar 09: the auto industry in crisis

By Ben Pulman and Tim Pollard Motor Industry 31 March 2009 13:48 Tuesday 31 March 2009• Porsche said that its earnings before tax rose to €7.3 billion in the six months to the end of January – including a €6.8bn windfall from its VW share options (Financial Times)• Fritz Henderson, GM's president and chief operating officer, will step up to replace Rick Wagoner, who was ousted on Sunday as CEO of General Motors (Financial Times)• President Obama is essentially CEO-in-chief of GM – despite not owning a single cent of stock, says Detroit News commentator (Detroit News)• German chancellor Angela Merkel gives assurances that any would-be investors in GM's European arm will be given state support. Opel is asking for €3.3 billion in aid – and up to 25,000 jobs in Germany depend on it, with up to 300,000 jobs across Europe including Saab and Vauxhall (BBC News)Monday 30 March 2009• General Motors' chief executive Rick Wagoner has been ordered to resign by US president Barack Obama with immediate effect. It's part of Obama's administration's critique of GM and Chrysler's turnaround plans – he's understood to be unhappy with the plans submitted (BBC News)• New GM non-executive chairman Kent Kresa has admitted that at the company's next general meeting it will have 'a majority of new directors' (General Motors)• Chrysler will receive US government aid for the next 30 days, but the Obama administration has said that if the company cannot secure a tie-up with the Fiat Group within that time period it will not receive any more money from the taxpayers and could go into liquidation.

New Mercedes B-Class Electric Drive goes in to production

The first Mercedes B-Class ED (pictured) rolls off the production line in Rastatt With the BMW i3 grabbing headlines – and flying out of showrooms – as BMW’s first electric car, Mercedes need to play catch-up with a convincing EV of their own, and that’s the new B-Class Electric Drive – an EV version of the regular B-Class – which has now gone in to production in Germany. Built alongside regular ICE versions of the B-Class at Mercedes’ Rastatt Plant, the B-Class ED (Electric Drive) looks practically the same as its more conventionally powered siblings – although the front bumper does look a bit different – and has an electric motor good for 177 bhp and 250 lb/ft of torque, can manage a scoot to 62 mph in 7.9 seconds and has a range of up to 124 miles. The range – at least the quoted range – is a chunk better than the BMW i3′s and on a par with the latest Nissan LEAF, thanks to EV technology provided by Tesla, and the wrapping of an EV drivetrain in a conventional series production car could appeal to more buyers than the ‘statement’ design of the BMW i3.

Car of the Year shortlist revealed

Shortlist for Car of the Year 2009 is announced today By Tim Pollard Motor Industry 02 October 2008 00:27 The European Car of the Year shortlist is announced today – and it looks like being a close-run battle this year. Take a look at the contenders below and have your say who should win by clicking 'Add your comment' at the foot of the story: Alfa Romeo MitoCitroen C5Ford FiestaOpel/Vauxhall InsigniaRenault MeganeSkoda SuperbVW GolfThat means that numerous contenders have fallen by the wayside; BMW's new 7-series, the Ford Kuga, Jaguar XF and VW Scirocco were deemed unworthy by the jury of top-flight journos from around Europe.And this year, CAR has its jury place back – editor Phil McNamara is now one of the UK's handful of judges for Car of the Year.