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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.

Honda Civic Si introduced

Honda have introduced a new 'Sporty' Civic - The Honda Civic Si The new Honda Civic Si is being made available across the whole five-door Civic range, regardless of engine or transmission. From which you would conclude, quite rightly, that this is a cosmetc ‘Sports’ job, not a power one. So you get some upgraded Graphite-coloured alloys (16″ on the 1.4 litre and 17″ on bigger engined variants), colour-coded bumpers, front fogs, Type R style mesh grill and dark chrome door handles and fuel cap.

New Ferrari California T gets new twin turbo V8 with 49% more torque (+video)

The new California T (pictured) revealed ahead of a Geneva debut It’s been a long time since Ferrari gave one of its cars a turbo charged engine, not since the late ’80s and the Ferrari F40, but that all changes – and no doubt points the way to the future – as the Ferrari California T gets revealed ahead of a debut next month at the Geneva Motor Show. Based on the V8 Ferrari build for the Maserati Ghibli, the California T’s new engine is a 3.8 litre twin turbo with 552bhp and a mountain of torque, 557lb/ft, a massive 49 per cent more than the current California produces. That improves performance marginally – 0-62mph in 3.6 seconds and a top speed of 196mph – but has a big impact on economy; the new California T improves on the current California by 15 per cent, recording official figures of 27mpg and 250g/km.