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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.

2012 BMW X1 Facelift: New engines & new models

2012 BMW X1 Facelift BMW has given the X1 compact SUV a nip and tuck for 2012 with new engines, new models and trim upgrades. Starts at £24,660. The entire BMW X1 range has been given something of a facelift for 2012, but BMW hasn’t just titivated the cosmetics they’ve also introduced two new models – the X1 Sport and X1 xLine – and new diesel engines.

Renault Twingo CC confirmed for 2010

The Renault Twingo CC - in showrooms by Spring 2010 Little cabriolets are flavour of the month/year. The MINI Cabriolet has been a big seller, and the Fiat 500C is a great little car. So, after years of procrastination, Renault has finally confirmed that the concept Renault Twingo CC, first seen at Geneva in 2007, will make it in to production in 2010.