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Auto industry feels the crunch

So much hype has been given to the financial crisis-- dubbed as the world's worst since the Great Depression. And it seems the hype is well-founded. Everyone is affected and car dealers and manufacturers have started to feel the crunch since last year.

Honda has officially pulled out from the 2009 F1 race after posting a sharp plunge in profits. A number of manufacturers have laid of thousands of workers. Companies are likewise finding new ways to cut their costs.

Here, AutoNews reports that is shutting its design studio at its research-and-development complex in suburban Detroit and moving the work to its main U.S. design studio in San Diego to cut costs.

The design studio in Farmington Hills, Mich., opened in 2005. Nissan spent $14 million on the studio as part of an $80 million expansion project at the R&D facility.

The worst new is this: In addition to closing the design studio, Nissan also said it is closing four regional sales offices. In all, the automaker expects to cut about 100 jobs.

I really hope this financial crisis gets solved sooner than later.

2010 Chevrolet Equinox

I was looking for any updates on soon-to-be-released SUVs and found out that Chevrolet is ready to introduce the 2010 Chevrolet Equinox. According to Automobilemag.com, "the 2010 Equinox is arguably the best looking vehicle in the segment and uses some of the most advanced technology under the hood."
And when I saw the pics, I have to agree with this description.

Engine-wise, the Equinox comes equipped with the base 2.4-liter inline-four and front-wheel drive. The Equinox should be rated at 21/30 mpg, thanks to direct injection, a six-speed transmission, and a few aerodynamic tricks (Equinox boasts a 0.36 drag coefficient).

For the interiors, it is said that the new model has a variety of optional equipment to keep passengers happy. A plethora of storage options include a large glove box, a center bin large enough to conceal a laptop, and enough cup holders for the family. There's also elegant blue ambient lighting, which looks very upscale in the dark. Important offerings like Bluetooth phone connectivity, USB audio support, a DVD entertainment system in the rear, available hard drive-based radios, a rear-view camera, and a power, programmable liftgate allow customers to option the Equinox to be quite lavish.

Complete review can be read here.