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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.

Beijing Designers Night

This year's Designer's Night took place on April 21, the second evening of the recent Beijing International Auto Show. Hosted by Autodesk and supported by Car Design News, the event took place in Beijing's famous northeastern 798 art factory district and attracted over 200 designers and design leaders from around the world, from well-known international companies as well as the design leaders from the Chinese automotive design industry. As the world's leading 2D and 3D digital design and management software provider, Autodesk used the event to showcase their latest modeling and visualization software that help fulfill the dreams of designers to reality.

2014 BMW X5 M50d: Specs, photos and price ahead of November on sale

The 2014 BMW X5 M50d (pictured) goes on sale November 2013 The new BMW X5 goes on sale in November – after a public debut at the Frankfurt Motor Show next month – including the most powerful diesel X5, the 2014 BMW X5 M50d. Because the M50d is a bit special, BMW has seen fit to relay not just a pile of new photos of the M50d (above) but specific details on its spec and options ahead of the on sale date in Europe. Just as in the first X50d, the new X50d gets the world’s most powerful in-line 6-cylinder diesel engine under the bonnet, which means a thumping 376bhp and a planet turning 546lb/ft of torque, enough to sprint to 62mph in a very un-diesel like 5.3 seconds.