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Crunch watch June 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Peter Adams Motor Industry 30 June 2009 11:35 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Tuesday 30 June 2009• Porsche says it is no longer applying to the German Kreditanstalt für Wiederaufbau central bank for a €1.75 billion bridging loan. This means it'll now have to seek finance elsewhere (Porsche) • Seat announces its best-ever month for used car sales; it sold 915 second-hand cars in May (Seat)Monday 29 June 2009• Jaguar Land Rover has opened its first showroom in India.

College Exhibition: IED Fiat/Chrysler project

Second year students at the Istituto Europeo di Design (IED) in Turin, Italy, recently completed a Fiat/Chrysler sponsored project, which began in February 2009. Conceived as a didactic exercise to think about the recent alliance between Fiat and Chrysler, 37 students were asked to design a vehicle capable of combining the technical know-how, platforms and values of both brands in order to generate interesting and competitive new products for the European and the American markets. In creating their concepts, students were asked to take into account the style, economic accessibility and the low environmental impact of Fiat vehicles as well as the new platforms and major industrial and production capacity afforded by the Italian automaker's alliance with the Chrysler brand.

Porsche 918 Spyder: The first ride in the future game changer

Faster than the iconic Carrera GT yet more economical than parent company Volkswagen's frugal new Up supermini, Porsche's next supercar, the 762-hp gasoline-electric powered 918 Spyder, promises to offer the best of both worlds—scorching performance and ultralow consumption. Autoweek joins Porsche's engineering team for the very first test of the car that is already causing headaches in Maranello and Sant'Agata. For all of its intense promise and awesome potential, the very first running prototype of the upcoming Porsche 918 Spyder looks suspiciously like a refugee from a shadowy postapocalyptic movie set as it glides silently into view across the vast expanse of bitumen at the Nardo test track in southern Italy.