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.

Mitsubishi Mirage, Concept PX-MiEV II (2011) news

Mitsubishi will show the Mirage city car and Concept PX-MiEV II concept cars at the 2011 Tokyo motor show, which opens on 30 November. Both are world premieres. It's our first look at Mitsubishi's new city car in production trim and a concept car which clearly points to 2012's new Outlander.

Lexus, Subaru, Mazda score highest Consumer Reports' rankings

Japanese brands, led by Lexus, Subaru and Mazda, continue to dominate Consumer Reports' rankings of the best light vehicles on the market, claiming "top pick" honors in seven out of 10 product segments and capturing the top seven spots for overall brand reliability and performance. The brands that scored best on the magazine's report cards for 2013 were Lexus, with a score of 79 out of 100, followed by Subaru and Mazda, which both scored a 76. Toyota, Acura, Honda and Scion rounded out the top seven.