Crunch watch Apr 09: the auto industry in crisis

By Tim Pollard and Ben Pulman Motor Industry 30 April 2009 17:21 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Thursday 30 April 2009• It's official: president Barack Obama confirms this afternoon Chrysler will file for Chapter 11 bankruptcy protection as it strikes a patnership with Fiat (Automotive News, subscription required)• 'Over the past month, seemingly insurmountable obstacles have been overcome,' says Obama. 'Chrysler and Fiat have formed a partnership that has a strong chance of success' • Chrysler is filing for bankruptcy protection under Section 363(b) of Chapter 11 bankruptcy code – expected to last for 30-60 days (Detroit News)• Treasury to pay Chrysler $4.5 billion 'in exit financing'• Chrysler tipped to get new board of directors.

New Lexus LF-LC Concept at Australian Motor Show with 500bhp Hybrid powertrain

Lexus are teasing a new version of the LF-LC Concept with 4WD and a 500bhp hybrid powertrain for the Australian Motor Show. When Lexus revealed the LF-LC Concept at the Detroit Motor Show at the start of 2012 our collective jaws dropped. It was a stunning two door coupe with the nose from the GS, a profile that had hints of the LFA, a stunning interior and the hope Lexus were brave enough to put it in to production.

New Lotus Elan revealed

The new Lotus Elan I know, you’re starting to get bored and wondering how on earth Lotus can suddenly churn out a range of models that are seemingly poles apart from where they are, and expect it to be credible. But they’be done it. And they’re serious.