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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.

Mercedes SL 65 AMG 45th Anniversary Edition

Mercedes SL 65 AMG unveiled in New York The new Mercedes SL 65 AMG has been revealed at the New York Auto Show and Mercedes are doing a 45th anniversary special to celebrate. It’s just a couple of weeks since the new Mercedes SL 65 AMG was revealed and now, with the New York Auto Show under way, the range-topping SL has had its first public outing. To celebrate the launch of the 2013 SL 65 AMG and the 45th anniversary of the first SL, Mercedes has announced a special edition SL 65 to soak up a few more pennies from those already willing to pay getting on for £200k for an SL – the Mercedes SL 65 AMG 45th Anniversary Edition.

Last McLaren P1 was sold on Sunday, says Ron Dennis

The McLaren P1 Supercar (pictured) is now sold out The LaFerrari may have sold out before it was even revealed, but with a long history of hypercars from Ferrari, that’s no surprise. But the McLaren P1, although a direct descendant of the fable McLaren F1, didn’t have the benefit of a long history of hard-core wealthy clients to call on for its sales, so McLaren has had to wait a while to complete sales on their entire run of 375 cars. But now they’ve done it.