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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.

BMW M5 ‘Bullet’ video

BMW Canada has produce a stunning video of the BMW M5 featuring the M5 exiting from a gun barrel to take out targets. There was a time when all car makers needed to promote their cars was a power ballad, lots of flame and a few explosions. Video done.

Kia K9 launches in Korea

Kia K9 launches in Korea Kia’s new range-topping saloon car – the Kia K9 – has launched in Korea and will launch overseas – with a new name – later in 2012. Kia’s most impressive – and certainly most ambitious - new car has launched in Korea and goes on sale today. But it’s extremely unlikely, even with a change of name from Dr Who’s robotic dog, that we’ll see it in the UK.