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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.

Ken Block in Gymkhana 3 – the ‘Meat’ arrives!

Ken Block Gymkhana 3 We don’t need to explain if you love cars. But just in case you’ve been living in a cage for the last few years, Ken Block is the ‘Hooning’ master. Cars come alive in his hands and he can make a car drift and dance in the most balletic way imaginable.

ABT Sportsline introduces 700 hp Audi RS6 Avant

Hot on the heels of their appearance at SEMA and their announcement to open a location in the U.S., the German tuning firm ABT Sportsline has unveiled two new versions of the Audi RS6 Avant, dubbed the ABT Power S and ABT Power. Apparently, ABT Sportsline felt that the 560 hp output of the stock 4.0-liter TFSI-engined Audi RS6 Avant wasn't enough, and tuned the ABT Power S version to produce 700 hp. That's a 25 percent increase in power over the stock version.