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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.

Noble saved by cash injection

By Ben Oliver Motor Industry 18 September 2006 09:30 British supercar maker Noble Cars has fought back from the brink, thanks to a cash injection from a new mystery backer. In an exclusive interview with CAR Online, boss Lee Noble vowed that the M15 – Noble's Ferrari fighter – would go on sale in early 2007. 'I have successfully teamed up with a dedicated owner who shares my commitment, passion and vision for the future of Noble cars,' said Noble.

Tiggywinkles get help from Toyota

ANIMAL CHARITY Tiggywinkles has a new supporter in the shape of Toyota GB, who have donated a new Hilux pick-up to help with its work in rescuing and caring for sick, injured or orphaned animals. The new Hilux Double Cab Invincible model will replace another Toyota model that was donated 20 years previously, and has covered thousands of miles in the process. Tiggywinkles, based near Aylesbury, has been rescuing, treating and rehabilitating British wildlife for more than 30 years.