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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.

W.W.J.D. (What Would Jay-Z Drive?)

Since Maybach got the axe last month, there has been a hole 6.2 meters long in the hearts of rappers and ball players everywhere. Florida rapper Rick Ross, whose label name is Maybach Music, may even have to find another marque to follow. Shawn Carter, aka Jay-Z, who recorded several songs singing the praises of Maybach, will have to find a new ride in which to be chauffeured.

Jeep Renegade Concept

Chrysler has revealed three sketches of new concepts it is scheduled to unveil at the Detroit Auto Show in January. One of these is the Jeep Renegade Concept, a sporty B-segment-sized two-seater the automaker claims is ideally suited for the all-weather delights of off-roading and dune surfing. The design of the vehicle is a futuristic take on the existing open-topped Jeep Wrangler, featuring a cut-down speedster windshield, a roll bar, openings in the door lowers and a hose-out interior.