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Crunch watch Feb 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Ben Whitworth Motor Industry 02 March 2009 18:11 Monday 2 March• The Volkswagen Group announces a 5% rise in sales revenues in the 2008 tax year and a 3% increase in operating profits, up to €6.3 billion. Chairman Martin Winterkorn said the group's multi-brand strategy and low CO2 cars had helped sustain sales, although he admitted that 2009 would see a fall in demand and revenues (Volkswagen) Friday 27 February• Jaguar Land Rover announces a significant order for 13,000 cars from a Chinese business. It's a morale boost for JLR which has been hit by a slump in demand with the global slowdown (BBC News)• Opel this afternoon agreed to a restructuring plan designed to save as many jobs and factories as possible – but it needs a €3.3 billion lifeline from the state.

Cautious welcome for fuel duty freeze

MOTORING groups have given a cautious welcome to Chancellor George Osborne's announcement of a freeze on fuel duty until May 2015. Both the AA and the RAC pointed out that Mr Osborne was already getting big sums from motorists in taxation. Professor Stephen Glaister, director of the RAC Foundation, said: "Transport is the single biggest area of household expenditure bar none and our own research shows that 800,000 of the poorest households are in transport poverty, spending a quarter or more of their income on running a car.

Italian Grand Prix (2012) RESULT

With McLaren locking out the front row of the grid in Monza, will the 2012 Italian Grand Prix see the Woking team dominate? Spa saw Jenson Button drive brilliantly for a lights to flag win, and here at Monza Button is riding shotgun for Hamilton’s pole as the 2012 Italian Grand Prix looks set to see the resurgence of McLaren continue. This time it was Lewis Hamilton who dominated from the lights – only briefly losing the lead during a pit stop – after a clean start saw him put clear air between the McLaren and a fired-up Massa who managed to wedge his Ferrari between Hamilton and Button before the first corner.