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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.

Hyundai Veloster C3 Roll Top Concept: LA Auto Show

Hyundai has unveiled a convertible Veloster Concept – the Hyundai Veloster C3 Roll Top Concept – at the Los Angeles Auto Show. Why tarpaulins? Because the rolling roof on this Veloster – which rolls backwards and forwards – is made from the side tarpaulin used on an HGV.

2013 Lexus LS range to include LS 460 F Sport

The 2013 Lexus LS will be revealed on 30th July and will include a new sport version of the big Lexus saloon – the Lexus LS 460 F Sport. The Lexus LS is the Lexus everyone knows; the Lexus that started it all. The LS is big and safe and well-built and is, to all intents and purposes, the Japanese Mercedes S Class.