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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.

Mercedes launch new 9G-Tronic gearbox on E350 BlueTec

New Mercedes E350 BlueTec (pictured) gets 9-speed 9G-TRONIC auto It’s not exactly a million years ago that automatic gearboxes offered poorer performance and economy than manual gearboxes, and came as standard with just three gears. But now, automatic gearboxes are so good they can  change quicker than any driver and, with the proliferation of eight-speed auto ‘boxes, offer improved economy and performance too. The next logical step is even more ratios in an auto ‘box, and Land Rover has already revealed they’ll be fitting the Evoque with a 9-speed ZF ‘box from 2014, and the new Jeep Grand Cherokee gets a nine-speed auto ‘box too.

Rock Legend Swaps Microphone For Classic Racing Mini

NOT content with belting out hard rock tunes, AC/DC front man Brian Johnson will son be charging around Croft racing circuit at the wheel of a classic Mini. The rock great is scheduled to compete at Croft’s Nostalgia Weekend (2-3 August), which the circuit is describing as an irresistible blend of fast cars, wheel-to-wheel racing, vintage music and dress. Johnson will take to the circuit in the Historic Touring Cars class behind the wheel of a 1964 Mini Cooper that he purchased late last year after driving it in his television series ‘Cars That Rock With Brian Johnson’.