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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.

OFFICIAL: 2014 BMW 2 Series

OFFICIAL: 2014 BMW 2 Series The new BMW 2 Series has been leaking like a sieve for the last week or so, so BMW must be relieved it’s now official and out in the open. Much of the detail we’ve already reported is confirmed with the official reveal, and we already know what the 2 Series looks like thanks to the official photos leaking yesterday, , but now we know which models are going to be rolling in to BMW’s UK showrooms in early 2014. There will be three 2-Series models available at launch – the 220i, 220d and M235i – which will cost £25,040, £25,868 and £34,250 respectively, with a choice of four trim levels - SE, Sport Modern and M Sport.

Korea to build more Nissan Rogues for U.S. market

Nissan is turning to Korean automaker Samsung to take the heat off its North American production needs as it struggles to stay a step ahead of U.S. sales forecasts. Nissan is expanding its two big U.S.