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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.

Volvo reveals C30 BEV electric car

By Tom Sharpe First Official Pictures 17 September 2009 11:44 Battery power is back on the menu at Volvo with this, a C30 plug-in hybrid. The electric Volvo C30 BEV wasn’t at Frankfurt, and the Swedes announced the zero-emissions runaround today – along with details of a 92-mile range, 80mph top speed and 0-62mph sprint of less than 11 seconds. The BEV stands for Battery Electric Vehicle and Volvo’s new plug-in hybrid could be introduced to the C30 range by 2012, bosses say.

Peugeot Onyx Concept: Paris 2012

The Peugeot Onyx Supercar Concept is a concept that will never be built and based on the underpinnings of the Peugeot Le Mans car. So Paris 2012 gets treated to the appealing Peugeot Onyx – a Gallic Jaguar C-X75, if you like – looking sexy and sleek on the floor in Paris with its copper and carbon fibre body and use of unusual materials like crystal glass and compressed paper. But it seems, as if we didn’t already know, that Peugeot aren’t planning to build an Onyx supercar – or at least not in their current financial muddle - and have even nicked its underpinnings from their own Le Mans 24hr diesel engine car to give the Onyx some eco and supercar credibility.