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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.

Computer gamer headed for Formula 1

THE WINNER of a computer game competition is now headed for the real world of Formula One with World Champion Sebastian Vettel’s Infiniti Red Bull racing team. Jann Mardenborough won Nissan’s competition to find a new racing driver by beating his rivals on a racing simulator game. His prize was a seat in a variety of racing cars since his victory in 2011 and now he will race in the GP3 series, which is the recognised route to Formula One.

Range Rover Evoque gets some new tech for 2014

When the 2014 Range Rover Evoque goes on sale in just a few months, it's going to have a whole host of new technologies on offer. As difficult as it is to believe that the Evoque is already being updated with new technology (didn't this SUV just come out a little while back?), Land Rover isn't waiting around. Over 170,000 units have been sold in just 18 months, and this compact SUV is well on its way to becoming Land Rover's sales leader of the decade if this pace keeps up.