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Crunch watch Feb 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Ben Whitworth Motor Industry 02 March 2009 18:11 Monday 2 March• The Volkswagen Group announces a 5% rise in sales revenues in the 2008 tax year and a 3% increase in operating profits, up to €6.3 billion. Chairman Martin Winterkorn said the group's multi-brand strategy and low CO2 cars had helped sustain sales, although he admitted that 2009 would see a fall in demand and revenues (Volkswagen) Friday 27 February• Jaguar Land Rover announces a significant order for 13,000 cars from a Chinese business. It's a morale boost for JLR which has been hit by a slump in demand with the global slowdown (BBC News)• Opel this afternoon agreed to a restructuring plan designed to save as many jobs and factories as possible – but it needs a €3.3 billion lifeline from the state.

Beattie joins Fisker as prices climb

Fisker Automotive, maker of the luxury hybrid Fisker Karma, has appointed luxury-brands executive Richard Beattie to the newly created position of chief commercial officer. Beattie will be responsible for sales, marketing and customer service for the brand. Beattie comes from a strong run as executive vice president of sales and marketing for Jaguar North America and, before that, for Jaguar Land Rover North America, positions which followed a career at Ford, where he was most recently president and CEO of Mazda’s North American operations.

£250 a gallon – the price of petrol in Afghanistan!

Thirsty military vehicles in Afghanistan get through 800,000 gallons a day So how on earth do they come up with that figure? Is it a case, as we’ve so often heard in the past, of Governments being ripped off by suppliers charging through the nose simply because the bills are often not checked? They claim not not.