Crunch watch Mar 09: the auto industry in crisis

Crunch watch Mar 09: the auto industry in crisis ByBen Pulman05 March 2009 11:58Thursday 5 March 2009• Renault-Nissan boss Carlos Ghosn has encouraged the European Union to play a stronger role in co-ordinating aid for car makers, but warned against individual governments intervening to save individual manufacturers. (Financial Times)• Jaguar and Land Rover workers have voted to take a one-year pay freeze and switch to a four-day working week, in a move designed to save their jobs. The deal is expected to save JLR £70m in 2009 (BBC News)• UK new car registrations were down 21.9% to 54,359 units in February 2009, the Society of Motor Manufacturers and Traders (SMMT) reports. The percentage of diesel-powered vehicles sold dropped from 45% in February 2008 to 44.1% in February 2009• Porsche sales in North America for February 2009 were down 12% compared to the same period in 2008, a drop to 1622 units. And while the company remains bouyant, stating that new Cayman and Boxster were up 42% to 528 cars, Cayenne sales were down 41% to just 477 vehicles. 911 sales were down 6%, but actually up 33% on sales in January 2009Tuesday 3 and Wednesday 4 March 2009 • Apologies for the lack of Crunchwatch stories on Tuesday and Wednesday – we were all a bit tied up at the Geneva motor show. Click here for our bountiful coverage of Europe's spring auto industry expo. There's plenty of industry news and commentMonday 2 March 2009• 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).