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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.
Audi A1 quattro costs £41,020
Sat, 18 Feb 2012The Audi A1 quattro is coming to the UK The Audi A1 quattro Limited Edition has been confirmed for the UK – although in LHD – with just 19 cars coming to the UK priced at £41,020. When the Limited Edition Audi A1 quattro was revealed just before Christmas, we did warn you that it would probably cost in the region of £30 when the 333 A1 quattros arrived this year. But we were wrong.
New Kia Sorento at Frankfurt
Mon, 10 Aug 2009The new Kia Sorento will get its debut at the Frankfurt Motor Show The new Kia Sorento – a seven seat SUV – is longer, lower and more aerodynamic than the current model. Its length has increased by 18mm and its drag coefficient drops to 0.38 – down from 0.43 – which will help with economy. And Kia says that the new Sorento has been set up to be more road-biased, without losing any of the Sorento’s off-road ability.