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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.

Jaguar Land Rover Special Operations division launches

Cars like the Jaguar F-Type Project 7 (pictured) will come from JLR’s Special Operations If the creation of the Jaguar Land Rover Special Operations division to create bespoke, heritage, ultra luxury and high performance Jaguar, Land Rover and Range Rover cars doesn’t shout how positive JLR are about the future, nothing will. Jaguar call it “meeting the increasing expectations of today’s most discerning and enthusiastic car customers“, but what they really mean is that JLR have now got so much back on their game with cars like the new Jaguar F-Type, new Range Rover and new Range Rover Sport that they now have buyers with deep enough pockets to pay for just about anything, so that’s what JLR are going to do with the Special Operations division; give them anything they want – at a price That will mean car like the Jaguar Project 7 F-Type we saw at Goodwood last year being possible, ultra-luxury versions of the Range Rover and even the creation of heritage cars like the new Lightweight E-Types could become a regular occurrence. With a team of engineers and and designers led by Paul Newsome, recently recruited from Williams Advance Engineering, the plan is to create halo vehicles for both the Jaguar and Land Rover brands, and a team of 150 at a new Technical Centre near Gaydon will have a customer commissioning suite for bespoke and premium personalisation.

New scheme lets drivers rent their cars out

Car owners can now make money by renting their vehicles when they’re not being used, using a new car rental scheme. The ‘easyCar Club’ venture lets drivers advertise their cars and matches them with people looking to rent a car for a short period. On Bing: see pictures of unusual hire cars Hertz offers supercar hire Although the service is now available nationwide, it was initially trialled in London – meaning many of the cars advertised are concentrated on the London area.