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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.

2012 Honda Civic faces limited recall for possible fuel leak

Honda is recalling 1,156 copies of the redesigned 2012 Civic because of a potential fuel leak. A mechanical seal in the fuel line on some vehicles was misplaced during assembly, leaving a gap where two segments of pipe attach and allowing for the potential of leakage. No injuries or fires have been reported in relation to the glitch, and most of the affected vehicles are still in inventory and will be fixed before going up for sale.

Porsche Boxster Spyder – the Speedster +video

The new Porsche Boxster Spyder - goes on sale next year We thought it was going to be the Porsche Boxster Speedster when we reported that Porsche were out testing a disguised Boxster at the Nurburgring back in September. Or maybe it was going to be the Boxster R. But it’s actually called the Porsche Boxster Spyder.