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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.

You could own Jeremy Clarkson's old Jaguar XJR

This is quite possibly the best Jaguar XJR… in the world. And that's because it was formerly owned by a certain Jeremy Clarkson. So you can bet your life he spent many hours smoking in the big supercharged cat.

Kia Sorento SUV is recalled for problem with airbag sensor

Kia is recalling 10,631 Sorento SUVs because of a problem with the airbag sensor. Sorento models made between June 15, 2006, and Nov. 27, 2007, might have a malfunctioning sensor for the front passenger seat, incorrectly classifying passengers in that seat as children and therefore deactivating their airbags.