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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.

New Infiniti Q50 2.0 litre Turbo – Price from £31,755

New Infiniti Q50 2.0 litre Turbo costs from £31,755 The Infiniti Q50 should be Infiniti’s best chance to convince buyers Infiniti is a viable option in the premium sector and a sensible alternative to the BMW 3 Series. That perception will be helped – a bit – by the arrival of the Infinito Q50 with another engine option, this one a 2.0 litre Turbo petrol with 211 bhp, which comes with a seven-speed automatic as standard. Oddly, Infiniti are shy of delivering any performance or economy data for the new 2.0 litre Turbo, so we’re guessing the figures don’t really impress too much.

College Exhibition: IAAD - 'My First Renault'

Transportation Design students at Istituto d'Arte Applicata e Design (IAAD) in Turin presented the results of a Renault-sponsored project with the theme 'My First Renault' in July. The students were given a fairly open brief to design a personal vision of a Renault vehicle of the near future. In addition to an exhibition in Turin, selected project work was presented at the Renault Technocentre to the directors of Renault Design.