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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.

New Lamborghini Estoque saloon concept revealed

By Chris Chilton First Official Pictures 01 October 2008 20:00 After Lamborghini's endless string of frustrating teaser shots, here, finally, are the full pictures of the Aston Rapide-rivalling four-seat Lamborghini supersaloon, the Estoque.     The concept sports a V8, but Lamborghini is incredibly open-minded about possible powertrains. The Gallardo’s V10 will be offered but engineering boss Maurizio Reggiani told CAR that a powerful turbodiesel or possibly a hybrid petrol electric drivetrain would probably also be offered.

Mercedes E Class Estate leaked

The first picture of the new Mercedes E Class Estate has leaked out The new Mercedes E Class leaked and then launched earlier this year, and the E Class Coupe turned out to be a C Class Coupe in disguise. We also reported in May that Mercedes was considering delaying the launch of the E Class Estate and E Class Cabriolet for a year or so until the economy recovered. But it’s now clear that the next instalment of the E Class story – the Mercedes E Class Estate – will launch at the Frankfurt Motor Show in September, and the first picture has leaked our way!