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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.

Audi Sportback unveiled at Detroit auto show 2009

By Tim Pollard Motor Shows 12 January 2009 04:14 Audi dropped some strong hints about two forthcoming models with its new Sportback concept car. The show car hogged the limelight at the Detroit auto show 2009 – and the Audi group chairman Rupert Stadler confirmed to CAR Online that it previewed a Sportback verison of the A5 coupe. While Avant signifies, for Audi, the estate breed, Sportback indicates a more practical hatchback/fastback model.

Lagonda are back – Aston Martin revives the Lagonda Marque

Lagonda has a long history. Founded in 1899 and building its first car 10 years later, which makes 2009 Lagonda’s 100th birthday. A fitting time, perhaps, for a revival.