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Crunch watch Apr 09: the auto industry in crisis

By Tim Pollard and Ben Pulman Motor Industry 30 April 2009 17:21 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Thursday 30 April 2009• It's official: president Barack Obama confirms this afternoon Chrysler will file for Chapter 11 bankruptcy protection as it strikes a patnership with Fiat (Automotive News, subscription required)• 'Over the past month, seemingly insurmountable obstacles have been overcome,' says Obama. 'Chrysler and Fiat have formed a partnership that has a strong chance of success' • Chrysler is filing for bankruptcy protection under Section 363(b) of Chapter 11 bankruptcy code – expected to last for 30-60 days (Detroit News)• Treasury to pay Chrysler $4.5 billion 'in exit financing'• Chrysler tipped to get new board of directors.

Volkswagen buys stake in Suzuki

Volkswagen will buy nearly 20 percent of Suzuki for $2.5 billion in a deal poised to continue VW's ambitious growth plans and bolster its global product offerings. The companies announced the agreement on Wednesday, and it could close in January. The deal allows VW to draw on Suzuki's small-car capabilities and strong position in India.

Saab’s Heritage Cars snaffled by the Bailiffs

The bailiffs have been in to the Saab Museum Just like every other car maker with a lineage, Saab likes to make the most of its car-making history. So it has a museum with everything from the UrSaab to the Aero-X on display. And now, it has a little addition – stickers on all its cars from the Swedish bailiff saying Utmätt Gods - sequestered for debt.