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Crunch watch Apr 09: the auto industry in crisis

By Tim Pollard and Ben Pulman Motor Industry 30 April 2009 17:21 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Thursday 30 April 2009• It's official: president Barack Obama confirms this afternoon Chrysler will file for Chapter 11 bankruptcy protection as it strikes a patnership with Fiat (Automotive News, subscription required)• 'Over the past month, seemingly insurmountable obstacles have been overcome,' says Obama. 'Chrysler and Fiat have formed a partnership that has a strong chance of success' • Chrysler is filing for bankruptcy protection under Section 363(b) of Chapter 11 bankruptcy code – expected to last for 30-60 days (Detroit News)• Treasury to pay Chrysler $4.5 billion 'in exit financing'• Chrysler tipped to get new board of directors.

Porsche unveils 2015 911 Targa

Porsche has given its latest 911 Targa a heavy dose of retro appeal through the adoption of a series of classic styling cues that hark back to that of the original model launched in 1965. Unveiled at the Detroit auto show, the new 911 Targa is based around the same aluminium bodyshell and four-wheel drive mechanical package as the 911 Carrera 4 Cabriolet, alongside which it will be produced at Porsche's Zuffenhausen factory on the outskirts of Stuttgart, Germany. Among the traditional styling elements Porsche's design boss Michael Mauer has chosen to resurrect on the new car is a fixed B-pillar hoop, or Targa bar as it has come to be known over the years.

2015 Ford Mustang Mach 1 rendered

File this one under "harmless speculation we're hoping Ford execs are paying attention to": Top Speed has rendered the 2015 Mustang Mach 1, giving an idea of what to expect if/when the Blue Oval trots out a hotter version of the newest pony car. The heat extractors on the hood get beefed up, and there's no missing the gigantic, adjustable front splitter. The lip spoiler on the trunk would be subtle if not for the contrasting black paint.