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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.

Renault Initiale Paris stars at the 2013 Frankfurt Motor Show

It may seem like a strange idea for Renault to launch its Initiale Paris premium sub-brand at a German motor show, but it could turn out to be quite an astute move. The French brand is hoping to take on the Germans with Initiale Paris, so showcasing this rather wonderful concept in Frankfurt is a clear signal of intent. Renault says this Initiale Paris concept previews the next generation Espace, but we can't help but see a massive dollop of Renault Avantime when we take a wander around the car.

UK new car average CO2 now under 140g/km

UK motor industry body the Society of Motor Manufacturers and Traders (SMMT) claims 56% of new cars sold in the UK during 2010 boasted carbon dioxide (CO2) emissions figures below 140g/km. New car emissions of CO2 continued to fall at an increased rate year-on-year, dropping 3.5% over 2009’s figures and representing a cumulative drop in new car CO2 emissions of 20.3% since 2000.  The data comes from the release of the SMMT’s annual New Car Carbon Dioxide (CO2) report for 2011, out today. UK vehicle fleet CO2 continues to fall The presence of lower-polluting new vehicles in the overall UK vehicle parc (the total fleet of new and existing vehicles on the roads) has driven parcwide CO2 levels down 7.8% since 2000, and 2.7% since 2009.  This is partly thanks to new vehicles, and also due to reduction of higher-polluting vehicles via legislation and scrappage incentive schemes. The overall reduction also comes in spite of an increased number of vehicles on the road, and greater average distances travelled compared to 2000. Diesel’s rise continues One notable trend has been market penetration of diesel-powered cars. In 2000 petrol powered cars held 85.9% of the market, with 14.1% diesels.