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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.

Chevy to auction first Z06 for Karmanos Cancer Institute

Chevrolet is continuing its tradition of donating its first production model of a new vehicle to be auctioned for charity: The first production 2015 Chevrolet Corvette Z06 will be sold at the Barrett-Jackson Palm Beach, Fla. event on April 12. Proceeds will go to the Karmanos Cancer Institute, extending the General’s long-standing support for the organization.

Armor-plated SUV among extravagant debuts at Top Marques Monaco show

While AutoWeek editors were pounding the pavement at the New York auto show last week, the world's silly rich were nodding polite approval at the Top Marques Monaco show. Included in the debuts were Gemballa, Fisker, Keating, Tirrito and Conquest, the latter of which showed off a ridiculously large, armor-plated SUV called the Knight XV that reportedly took organizers three hours just to maneuver it through the hall doors. Lest we forget that we're all human, Top Marques Monaco also had its “Black Friday at Wal-Mart” moments: According to organizers, Gemballa's world premiere of the Tornado was cut short after it was purchased “within 16 seconds of the show doors opening by a sheikh eager to have a piece of the action.” Full wrap-up release from Top Marques Monaco below.