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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.

Geneva motor show: 2010 Saab 9-3x crossover debuts

At next month's Geneva motor show, Saab looks to provide a right-sized crossover with the introduction of the 2010 9-3X. Beginning with a 9-3 SportCombi wagon, Saab engineers raise ride height by 1.4 inches, add the XWD all-wheel-drive system that we first saw on the Turbo X and pump up the exterior styling. According to Saab, the 9-3X provides customers with the perfect alternative to large crossovers and SUVs, while offering respectable utility and off-road capabilities.

Concours d'Elegance of America at St. John's to feature Slingshot dragsters

The 34th-annual Concours d'Elegance of America at St. John's, formerly known as the Meadow Brook Concours d'Elegance, will host a selection of Slingshot rail drag cars this year, in addition to the Duesenbergs, Pierce-Arrows and Cords. The cars get their name from the rearward positioning of the driver seat behind the rear axle.