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One lap of the Web: Ponycar birthdays, forgotten Hungarian racetracks and an Acura NSX

Chevy took some time this week to say happy birthday to its archrival, the Ford Mustang. The bowtie brand said that "healthy competition" between the Camaro and Mustang has been a "driving force for constant improvement." Check it out over at World Car Fans. Petrolicious has a handful of photos from a nearly forgotten track in Budapest, Hungary.

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.

Will Chrysler reload with another wagon?

Is Chrysler aiming to get some of its old swagger back by dusting off a recent gem with customizers? The Dodge Magnum wagon with its "gangsta" profile proved a sensation with tuners and urban dwellers when it arrived in showrooms in 2004. But it was quickly spiked when Chrysler hit the financial skids and restructured under bankruptcy a few years ago.