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Hottest 911 ever!

A few weeks back, we revealed spy shots of the next-gen Porsche 911 GT2. But now the Web is awash in reports from a Porsche dealer meeting in Germany where the company revealed the even-hotter GT2 RS. Reportedly pushing 620 hp from its turbocharged boxer-six engine, the track- and street-legal GT2 RS is said to be 200 pounds lighter than the GT2.

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.

Volvo WILL build a luxury car to take on the Mercedes S-Class

Volvo WILL build a luxury car to take on the Mercedes S-Class (Concept You pictured) Volvo has done a lot right – and not much wrong – since Geely took over the reigns from Ford. With new cars like the V40, a new range of 4-cylinder engines and a new design direction – previewed by the stunning Volvo Concept Coupe – the Swedes look to be on a roll. But their strategy of pointing their cars at premium car lovers in the mainstream segment seemed to have taken a left turn with a revelation by Geely and Volvo Chairman, Li Shufu, who has declared Volvo are to build a luxury car to take on the might of the Mercedes S-Class, Audi A8, BMW 7-Series and Jaguar XJ.