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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.
Ford set to improve 2013 hybrid software
Wed, 17 Jul 2013Ford said on Monday that it would recall its 2013 Fusion, C-Max and Lincoln MKZ hybrids, but not for the reason you might think. Like your cell phone software, the car’s software systems are getting an upgrade. Starting in August, owners of those cars will be notified of their option to bring the cars in for a software enhancement that will help even out the variability in mileage.
Kia launches Cadenza as replacement for Amanti sedan, hits North America in 2011
Tue, 24 Nov 2009Kia is replacing its Amanti large sedan with a new model called the Cadenza, which was unveiled today in South Korea. It goes on sale there this year and in North America in 2011. The five-seat Cadenza is shorter than the Amanti but has a longer wheelbase delivering more interior space, Kia said in a release.