The global credit crunch has hit car manufacturers hard with UK sales at an all time low. Honda announced that it is cutting production at it’s plant in Swindon by 21,000 vehicles. They stated that the plant will be shot down for fifty days next year but said that they have no plans for redundancies. The plant will now be closed for the whole of February and March 2009. So if you are thinking of Honda Car Leasing then time is now of the essence.

Honda Type R Image

This is more bad news for the Wiltshire town on top of the news that BMW Mini are closing their plant for an additional two weeks this winter.

Other manufacturers are also feeling the pinch:

Toyota have announced that they will not be renewing 3,000 temporay contracts.

Mazda are also making 1.300 workers redundant. Production is to be decreased by 48,000 units.

Isuzu the Japanese truck and 4×4 manufacturer has also announce rdundancies, 1,400 jobs this time and a production drop of 10%.

There does not seem to be any good news in the automotive world at the moment. The US car giants Chrysler, Ford and General Motors have all went cap in hand to the government of the USA pleading for bail outs.

Submitted on Saturday, November 22nd, 2008 at 6:37 am