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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.

Avro Mirage 720 Ford GT (2008) first official pictures

By Ben Pulman First Official Pictures 17 March 2008 12:09 Avro’s 720 Mirage Ford GT is the supercar for when one limited edition just isn’t enough. Just ten of these Roush-tuned Fords will be made, and yes, the 720 signifies the horsepower output. In 2007 Avro and Roush unleashed the 600bhp 600RE Ford GT.

BMW unveils Super Bowl spots, digital shorts

According to said Dan Creed, Vice President of Marketing, BMW of North America, "The BMW 3 Series is the global benchmark for a sports sedan. With these shorts, we turn a spotlight on the innovations that make the 3 Series the standard to which others aspire." Funny, we always thought the 3's sterling reputation lay squarely on its continually-stellar dynamics and excellent powertrains. Despite the fact that the tagline, “We only make one thing, the Ultimate Driving Machine” is repeated at the end of each of these six digital shorts, only one of them actually shows the car in motion--the one to be broadcast in the Los Angeles area during the Super Bowl.