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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.

Project Car Hell, Genuine Muscle Cars Edition: AMC Rebel Machine or Mercury Cyclone Spoiler II?

Once again, the hinges of the Hell Garage gates -- lubricated with the purest Unobtainium-239 -- creak open and bring us to another installment of Project Car Hell. Last week, we offered two options for your eternal torment, a straight-8 Packard and a straight-8 Buick, and we just love those classic Detroit cars! So much so, in fact, that we're going to stick with Detroit (well, Detroit and Kenosha, if you want to split hairs) and fast-forward the calendar a couple of decades to the Golden Age of Muscle Cars.

Roads warning as massive transformer is moved

ONE OF THE BIGGEST abnormal loads ever transported on the roads will be trundling across the west of England this weekend - at an average speed of 4mph. The giant transformer, measuring almost 330ft long and weighing around 640 tonnes, will travel the 80 miles between Didcot in Oxfordshire and Avonmouth in Bristol. Police warn the trip will affect roads in Wiltshire, Bath and north-east Somerset and south Gloucestershire between 7pm on Friday and 6pm on Sunday.