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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.

Nissan showcases crashproof cars and an eco pedal

By Tim Pollard Motor Industry 06 August 2008 09:17 Nissan has unveiled a brace of new technologies to make driving in the 21st century cleaner and greener – but they also signal a further erosion of driver independence, ceding more control from man to microchip. How so? Well, the new systems announced today mark a step towards the driverless car: one is part of a project that hopes to eliminate accidents altogether while the other pushes against the accelerator to encourage a lighter right foot.

Video: Possible new Pantera spotted in Italy

A YouTube video shows what appears to be the newest evolution of the hallowed De Tomaso Pantera. Caught leaving the De Tomaso factory in Grugliasco, Italy, the heavily camouflaged two-door coupe did not muffle the brawny engine sound. The rumor mill is speculating about a V8 powerplant sourced from Ford, like the original, and an aluminum body.