The government is to extend its car scrappage scheme, in an announcement made by Lord Mandelson. He said the scheme, which started in May and gives consumers £2,000 off a new car if they trade in one at least 10 years old, was running out of money.
We cannot do everything but that does not mean doing nothing
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Honda has announced that it will discontinue production of the S-2000 sports car by the end of June 2009. The S-2000 is still a highly respected sportscar, and this truly marks the end-of-an-era. It is believed that the credit crunch, the moving environmental goals, and the eagerly anticipated launch of the hybrid Honda CR-Z have combined to bring about the demise of the S-2000.
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Honda has cancelled the new NSX as part of a radical restructuring of its car making business. The V10-engined supercar, which was a direct challenge to Ferrari and Porsche, would have been the most powerful production car that the company had ever produced.
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Honda is pulling out of Formula One, blaming the world economic crisis for plans to sell its team. The decision leaves Englishman Jenson Button and 2009 team-mate Rubens Barrichello without drives, with only a few mid-ranking seats still available.
Honda, which spent more than £300m a year on F1, said it would also no longer supply the sport with engines.
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