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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.

Porsche 918 Spyder finally debuts at Frankfurt motor show

Porsche initiated the final act in its drawn-out 918 Spyder introduction, revealing the production version of the 214-mph gasoline-electric hybrid two-seater at the Frankfurt motor show. The car will be produced on a dedicated line at Porsche's Zuffenhausen factory in Germany starting Sept. 12.

Jaguar Land Rover reveal more on the new Ingenium Engine range

Jaguar Land Rover reveal more on the new Ingenium Engine range Much has changed at Jaguar Land Rover in the last few years, with Land Rover’s model range undergoing a dramatic transformation with the Evoque, Range Rover and Range Rover Sport (and the new Discovery family on it way with the Discovery Sport) boosting sales and appeal. And the same is happening at Jaguar with the XF and XJ offering real competition to the German premium brands, the F-Type carving out a hugely appealing niche of its own and the new Jaguar XE on its way to take on the BMW 3-Series and Mercedes C-Class. But the missing piece of the puzzle is the introduction of a new range of engines developed and built by JLR to replace the still able, but bought-in, engines JLR currently use.