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Crunch watch June 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Peter Adams Motor Industry 30 June 2009 11:35 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  Tuesday 30 June 2009• Porsche says it is no longer applying to the German Kreditanstalt für Wiederaufbau central bank for a €1.75 billion bridging loan. This means it'll now have to seek finance elsewhere (Porsche) • Seat announces its best-ever month for used car sales; it sold 915 second-hand cars in May (Seat)Monday 29 June 2009• Jaguar Land Rover has opened its first showroom in India.

Audi A7 Concept leaks out

Audi has put out a car to fill just about every niche there is, and very successfully too, over the last few years. But it has rarely been an innovator, preferring to see how the water is before jumping in. The Audi Q7 and the Audi Q5 are good examples of this – late to the party but going to the top of the tree in no time.

Renault-Nissan and Mitsubishi to join forces

MITSUBISHI and the existing Renault-Nissan alliance are set to work together on a series of new cars. Discussions aren’t finished but as part of the deal Mitsubishi will get hold of a Renault chassis large enough to use as a base a full-size saloon for the North American market. The firms will also further develop an electric version of a Japan-only ‘kei car’.