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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.

Halfords rapped by advertising watchdog

HALFORDS has been told to remove "misleading" pricing from its website after overstating savings on certain products. The car and bike accessories retailer listed two car radios in July, claiming savings of £20 on each one. But a complainant noted that the radios had only just been released, and challenged whether the savings claims could therefore be substantiated.

Toyota U.S. operations moving to Texas

After 57 years in Los Angeles, Toyota Motor Sales U.S.A. is moving its sales and marketing headquarters to Plano, Texas, sources close to the matter said. The move will occur in stages and take two years to complete, according to sources.