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Crunch watch Feb 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Ben Whitworth Motor Industry 02 March 2009 18:11 Monday 2 March• The Volkswagen Group announces a 5% rise in sales revenues in the 2008 tax year and a 3% increase in operating profits, up to €6.3 billion. Chairman Martin Winterkorn said the group's multi-brand strategy and low CO2 cars had helped sustain sales, although he admitted that 2009 would see a fall in demand and revenues (Volkswagen) Friday 27 February• Jaguar Land Rover announces a significant order for 13,000 cars from a Chinese business. It's a morale boost for JLR which has been hit by a slump in demand with the global slowdown (BBC News)• Opel this afternoon agreed to a restructuring plan designed to save as many jobs and factories as possible – but it needs a €3.3 billion lifeline from the state.

Mini cancels the Rocketman

Mini is suspending work on the Rocketman, the United Kingdom's Car magazine reports. The company has a load of new products debuting, but the mini Mini won't be one of them. This isn't too much of a surprise.

London Design Museum showcases most iconic designs and inventions

The London Design Museum has added 13 new exhibits to its collection. The additions come ahead of the Museum's relocation from its current location in the shadows of Tower Bridge to the former Commonwealth Institute across town in Kensington. The new acquisitions are taken from a variety of backgrounds; from the iconic Tomohiro Nishikado-designed Space Invaders game through the Kalashnikov AK-47 and the Amazon Kindle.