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Crunch watch Jan 09: the auto industry in crisis
Fri, 30 Jan 2009By 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.
Lamborghini Urus SUV confirmed for 2017 – again
Sun, 26 Jan 2014The Lamborghini Urus SUV (pictured) has been signed-off for production by VW It’s already two years since the Lamborghini Urus SUV went from speculation to reality as a concept version arrived at the 2012 Beijing Motor Show. Since then we’ve had speculation that, apart from being underpinned by the next generation large SUV platform from VW, which will underpin everything from the Bentley Falcon SUV to the next generation Audi Q7, the Urus will probably be fitted with a twin-turbo V8 delivering around 600bhp, a take on the 4.0 litre twin turbo used by Bentley and Audi. We’ve also had confirmation from a Lamborghini source that the Urus SUV will launch in 2017 and spearhead Lamborghini’s drive to reach annual sales of 3000 cars.
Glass’s Guide Luxury Cars price crash
Thu, 20 Nov 2008I think we all knew it was happening, but Glass’s guide, the trade bible for used car values, has confirmed that luxury cars in the UK have fallen out of bed in a big way. Comparing luxury diesel saloons with a year ago, they say that average values have dropped by a massive 21%. And in pure money terms the top end coupes, such as the Porsche 911, have fallen by 18%.