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Crunch watch Feb 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Ben Whitworth Motor Industry 02 March 2009 18:11 Monday 2 March• The Volkswagen Group announces a 5% rise in sales revenues in the 2008 tax year and a 3% increase in operating profits, up to €6.3 billion. Chairman Martin Winterkorn said the group's multi-brand strategy and low CO2 cars had helped sustain sales, although he admitted that 2009 would see a fall in demand and revenues (Volkswagen) Friday 27 February• Jaguar Land Rover announces a significant order for 13,000 cars from a Chinese business. It's a morale boost for JLR which has been hit by a slump in demand with the global slowdown (BBC News)• Opel this afternoon agreed to a restructuring plan designed to save as many jobs and factories as possible – but it needs a €3.3 billion lifeline from the state.

F1 2010 – an enticing prospect

The 2010 F1 season kicks off this weekend at the Bahrain F1 Circuit There have been accusations that Formula 1 has become boring; just a procession of cars going round in a circle many say. And at times over recent years it’s not always been easy to disagree. But 2010 looks like it could be shaping up to be the best season in F1 for a generation.

Barrett-Jackson sells Cobra Jet prototype for $200,000

A 2014 Ford Mustang Cobra Jet Prototype sold for $200,000 at the Barrett-Jackson Las Vegas sale. Proceeds from the charity sale will benefit the National Multiple Sclerosis Society. That price is more than $100,000 over sticker for the Cobra Jet, which usually retails for $97,990.