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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.

Hopped-up Infiniti Q50 Eau Rogue set for Detroit auto show

Infiniti undoubtedly has a prestigious reputation when it comes to the world of Formula One racing, thanks to its partnership with Red Bull Racing and Formula One's baby-faced prodigy, Sebastian Vettel. So it's not surprising that its next concept will take inspiration from the F1 speed machines. Infiniti plans to debut the Q50 Eau Rogue concept at the Detroit auto show in January.

VW Polo R WRC Street Limited Edition – but not for the UK

Volkswagen has revealed a production version of its Polo WRC car – the VW Polo R WRC Street – as a limited run, but not for the UK. Volkswagen has revealed a limited run VW Polo R WRC Street to coincide with their foray in to WRC with the Polo, and it goes on sale this month – but not for the UK. The LHD only Polo R WRC Street gets the 4WD platform Audi has developed for the A1 together with a 2.0 litre TSI producing 220bhp, delivered to all four wheels through a six-speed manual ‘box, enough to scoot the Polo R WRC to 62mph in 6.4 seconds – quicker than the Golf GTi.