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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.
UPDATED: Three Tesla employees are killed in California plane crash
Wed, 17 Feb 2010Three employees of Tesla Motors were killed in a small airplane crash in northern California on Wednesday, the electric-car maker's chief executive said. A Cessna 310 struck an electrical tower after taking off this morning and crashed into a residential neighborhood, killing all three people on board, according to local police. Tesla confirmed all had worked at the company.
Aston Martin One-77 tops 220mph in testing
Tue, 22 Dec 2009The Aston Martin One-77 tops 220mph in testing We saw the Aston Martin One- 77 all over the place last year. It turned up Geneva, at Villa D’Este in the summer and the One-77 was also to be seen at Salon Prive in July where our leader spent time checking it out together with celebrity petrol-head JK. But it’s gone a bit quiet on the One-77 front lately as Aston Martin work to iron out the wrinkles before the One-77 starts to hit the roads in the Summer.