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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.

Skoda Citigo 5-door revealed

The Skoda Citigo 5-door will debut at Geneva The Skoda Citigo 5-door - Skoda’s version of the 5-door VW Up – is heading for a public debut at the Geneva Motor Show in March. We have the first photo. Skoda revealed their take on the VW Up – the Skoda Citigo – back in September, with plans for the new baby Skoda to go on sale this summer.

Sebring swap: Chrysler will call its 2011 sedan the 200

The Chrysler Sebring will get a fresh start late this year as it relaunches with a new name, the 200, and considerable upgrades to the engines, sheetmetal and interior. The 200 gets a new grille with a prominent Chrysler badge, new fascia front and rear, projector headlamps and fog lamps and LED taillights. The new engines to be offered are Chrysler's Pentastar V6 that will make 283 hp and 260 lb-ft of torque, which is slightly detuned from its uses in the Jeep Grand Cherokee and Dodge Charger, and a 2.4-liter four-cylinder from Fiat's global engine bin.