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Crunch watch Jan 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Gareth Evans Motor Industry 30 January 2009 12:39 Friday 30 January 2009• Honda is about to close the Swindon factory for four months when Friday's shifts are finished; the shutdown will affect 2500 of the 3700 staff, who will receive full pay for two months and then 60% pay for the next eight weeks (BBC News)• Porsche has announced a sharp drop in sales and likely profits. It forecasts a 27% drop in 911, Boxster, Cayman and Cayenne sales to around 34,000 units in the six months to the end of January 2009 (Financial Times, subscription required)• Ford wants Washington to do more to stimulate car sales, after posting a record loss of nearly $14.6 billion earlier this week (Detroit News)• Honda's quarterly profit has crashed by 90% – forcing the Japanese car maker to halve its annual profit target (Detroit Free Press)Thursday 29 January 2009• Ford of Europe is a bright spot in the Blue Oval's quarterly results today, making $1.06 billion pre-tax profit in 2008 (up from $997m in 2007). It's the first profit of more than $1bn since 1989 (Automotive News Europe, subscription required)• Volvo suffered a 'disastrous 2008' with a pre-tax loss of $1.46bn.

Rennsport Reunion IV closes with Porsche 917s tearing around the track

Rennsport IV, three days of serious Porsche love at Mazda Racway Laguna Seca, concluded on Sunday with a half-dozen races around the picturesque track near Monterey, Calif. And while there were a variety of all things Porsche to see and hear through the three days, Sunday saw some of Porsche's most powerful race cars take to the track. It was certainly a case of saving the best for last.

Cadillac ATS coupe confirmed

General Motors plans to introduce a coupe version of its Cadillac ATS compact next year, one in a spate of vehicle introductions for the luxury brand. Several dealers told Automotive News they were shown an ATS coupe at a national dealer meeting in Las Vegas this month. Also unveiled to dealers was the 2015 Escalade, which is expected to go into production in January.