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Crunch watch Apr 09: the auto industry in crisis

By Tim Pollard and Ben Pulman Motor Industry 30 April 2009 17:21 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Thursday 30 April 2009• It's official: president Barack Obama confirms this afternoon Chrysler will file for Chapter 11 bankruptcy protection as it strikes a patnership with Fiat (Automotive News, subscription required)• 'Over the past month, seemingly insurmountable obstacles have been overcome,' says Obama. 'Chrysler and Fiat have formed a partnership that has a strong chance of success' • Chrysler is filing for bankruptcy protection under Section 363(b) of Chapter 11 bankruptcy code – expected to last for 30-60 days (Detroit News)• Treasury to pay Chrysler $4.5 billion 'in exit financing'• Chrysler tipped to get new board of directors.

Chrysler quadruples profit in first quarter

The Chrysler Group is riding high on first-quarter profits this year that totaled $473 million. That's quadruple what it made last year during the same period. Revenue rose 25 percent to $16.4 billion, while U.S.

2011 Ford F-150 aims for fuel economy, power

The Ford F-Series has been America's top-selling truck for decades. But in a nod to changing times, Ford is now also focusing on fuel economy for its iconic truck for the 2011 model year. The F-150, which is offering a V6 again this year, will get 23 mpg on the highway and 16 mpg in city driving using the naturally aspirated, 3.7-liter V6 that makes 302 hp.