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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.

Ken Block signs for Ford and the WRC

Ken Block – who became a YouTube sensation with his gymkhana stunt series ¬– has ended months of speculation by confirming he’ll compete in the 2010 World Rally Championship – switching his Subaru Impreza for a Ford Focus, while he'll also rally a Fiesta in the US. The Monster energy drink-backed deal will form a key part of Ford’s plan to market its hatches in America, and follows last year’s Pikes Peak Fiesta. It’s a tentative start for Block, who’ll be competing in select rounds of the WRC championship – Mexico is believed to be the first – to hone his skills.

BMW recalls 1.3 million 5 & 6 Series cars

BMW recall 1.3 million 5 & 6 Series BMW is to recall 1.3 million 5 Series and 6 Series cars built between 2003 and 2010 to fix a battery cable cover. It’s been an expensive year for BMW on the recall front. January saw MINI recall 235,000 Cooper and JCW models to fix a faulty auxiliary water pump on the turbo, and now a massive 1.3 million BMW 5 Series and 6 Series cars are being recalled. The cars affected are the BMW 5 and 6 Series built between 2003 and 2010 where BMW has discovered a battery cable cover in the boot may have been mounted incorrectly.