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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.

New Mazda CX-7 (2010) at Frankfurt

Mazda are bringing the new Mazda CX-7 to Frankfurt The new Mazda CX-7 gets a nose-job to bring it in with the family feel – as seen on the new Mazda 3 – but with a smattering of chrome detailing. But the big news is on the engine front. In comes a MZR-CD 2.2 litre Turbo-Diesel engine, which should offer much better economy without sacrificing much in the way of performance.

Alpina to debut B6 GT3 race car at Geneva motor show

Alpina has been tinkering with BMW vehicles for close to 50 years and has a rich motorsports history that includes campaigns in European touring car, hill climbing, rally and endurance racing that it stepped away from 20 years ago. Now the racing bug has returned to Alpina with the announcement of its entry into the FIA GT3 European championship series. The BMW 6-series based B6 GT3 will have its first public showing at the Geneva motor show in March.