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Crunch watch October 09: the auto industry in crisis

Tuesday 20 October 2009• Honda's CEO said he would consider launching electric vehicles for sale in Europe, Japan and the USA in a possible change of strategy for the Japanese car manufacturer (Automotive News, subscription required)• Ford 59-plate car sales up by 22% in September ‘09 compared to the same month last year. Ford claims a 14.8% share of total new car sales for the same period (Ford)• Porsche, VW and Daimler all sent top executives to the Shanghai motor show in April, but chose to snub the Tokyo motor show this week. The news comes as China’s automotive market is set to become the world’s largest (Bloomberg)• Toyota enters the Korean car market, challenging the 72% market share owned by Hyundai Motor Co (Bloomberg)  Monday 19 October 2009 • The organisers of the Geneva motor show claim that 'all of the major manufacturers have already confirmed their participation' for the March 2010 event (Geneva Palexpo)• Jaguar is auctioning off the first XJ off the line to raise £1m for the NSPCC children's charity.

Pagani Huayra sets Top Gear lap record and places marker for McLaren P1

The Pagani Huyra set a stunning record time on the Top Gear track last week and in the process laid down a marker for the new McLaren P1. The return of Top Gear at the weekend for Series 19 saw Richard Hammond get to grips with the Pagani Huayra – successor to his beloved Zonda – and after a thoroughly positive test drive Hammond handed over to the Stig to take the Huayra round the Top Gear track. In the hands of the Stig, the 6.0 litre V12 AMG engine with 730 horses powered the Huayra to a time of just 1:13.8, beating the previous record for a production car, held by the Ariel Atom V8, by a sizeable 1.3 seconds.

Cadillac S-class fighter confirmed

General Motors CEO Dan Akerson recently revealed to USA Today that a new Cadillac S-class and 7-series fighter is in the works. He suggested it would be released in about two years. The large luxury sedan will utilize a rear-wheel-drive chassis loosely based on the CTS, though there will also be an all-wheel drive version.