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.

2014 Chevrolet Camaro Z/28 starts at $75,695

How badly do you want the baddest Camaro built today? When the Z/28 goes on sale this spring, expect to pay $75,000 for it -- or $75,695 with that pesky destination charge tacked on. If you remember, the hotly anticipated Z/28 was one of the big stars at the New York auto show this past March.

Audi starts Facebook petition for the TT RS

Audi of America is doing what it can to convince its German bosses to send the TT RS our way. A petition on the automaker's Facebook page says that “Audi is seriously rethinking its original plans for the range-topping TT model and wants to hear from you.” As of Monday morning, the petition had gathered 3,742 signatures. Currently, the TT line in the United States includes only the TT and the TTS.