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.

2013 Mazda 3, 2014 Mazda CX-5 earn 'Top Safety Pick' rating

Mazda announced Wednesday that the 2013 Mazda 3 and the 2014 Mazda CX-5 have both earned “good” ratings from the Insurance Institute for Highway Safety. To achieve the overall “good” rating, the vehicles had to perform well in each of the following crash-test categories: frontal moderate overlap, side, rear impact and roof strength. “The Mazda 3 and the CX-5 are two very important vehicles for Mazda and our customers,” said Jim O'Sullivan, president and CEO, Mazda North American Operations (MNAO).

Vauxhall launches powerful 1.0 petrol engine

OLD-FASHIONED 1.6-litre petrol engines in Vauxhall cars are about to be replaced by a clever new 1.0-litre alternative. The tiny newcomer has only three cylinders, but thanks to a turbocharger it coughs up more power and torque than many normal 1.6-litre equivalents. It’s set to debut in Vauxhall’s funky Adam supermini, although the new engine will be display-only when it emerges at the Geneva Motor Show next month.