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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.

2013 Ford Fusion gets stop/start as $295 option

Ford Motor Co. is bringing its Auto-Start-Stop system to the United States, the first time it has offered the system in this country in a nonhybrid application. The $295 option will be offered only on 2013 Ford Fusions powered by a 1.6-liter, four-cylinder EcoBoost engine, which Ford predicts will be the top-selling Fusion engine.

Top Gear Christmas Special – Equality & Diversity remit fulfilled

Top Gear offend Christians and Muslims We know that the entire Top Gear team – from Messrs Clarkson, Hammond, May and Wilman on down – are steeped in modern sensibilities. We know, for example, that every item Top Gear runs is first passed through two diversity and three equality committees to ensure that every item in every episode is fair, unbiased and inclusive. Not only are equality and diversity the bedrock on which Top Gear is built, the whole Top Gear team is dedicated to fairness and the eradication from Top Gear of all subjectivity.