Toyota shares soar following unveiling of new EV tech June 13, 2023 Toyota saw its shares bump up on Tuesday following the unveiling of a host of new EV-related technologies from 2026, which it said will help cut costs and regain competitiveness in the global transition towards electric vehicles. Following the announcement on Tuesday morning, company shares surged five per cent. Toyota said that the new “next [...]
Gen Z drivers forking out extra £300 as soaring car premiums offset dip in petrol costs June 13, 2023 Young car owners are paying an extra £300 to drive a car this year as a result of insurers hiking up premium prices, new research shows. Analysis from Compare the Market shows that young motorists between 17-24 are now paying £2,559 to drive a car for a year, compared with £2,263 in 2022 a “substantial” [...]
E-bike explosions caused by dodgy batteries are ‘the fastest growing fire risk’ in London June 13, 2023 Dodgy batteries on e-bikes and scooters are the “fastest growing fire risk in the capital,” a top London Fire Brigade official has warned, as he joined calls for more regulation. Deputy Commissioner of London’s Fire Brigade Dom Ellis said that the force had been called out to 58 e-bike fires and 14 involving e-scooters this [...]
UK car insurance costs likely to rise for another two years, report says June 12, 2023 UK car insurance costs are set to rise for at least another two years, according to a new report. The price for Brits to insure their cars is expected to rise 14 per cent in 2023 and will not flatten until 2025, according to a report by consultancy Oxbow Partners. It comes as inflation has [...]
2,000 jobs lost as Tuffnells crashes into administration June 12, 2023 Over 2,000 workers are expected to be pushed into redundancy after British delivery giant Tuffnells went into administration today. The firm appointed joint administrators from Interpath Advisory to handle its bankruptcy, after failing to secure additional funding. Headquartered in Sheffield, Tuffnells – which was a leading distributor of mixed freight – has 33 depots across [...]
EU carmakers could lose £3.69bn due to post-Brexit tariffs June 12, 2023 European automakers have said they could lose €4.3bn (£3.69bn) and cut production of nearly 500,000 vehicles, if the EU does not delay putting in place tariffs between the EU and UK. According to the Financial Times, the European Automobile Manufacturers Association (Acea), has said that China would benefit if the EU does not agree to [...]
Eurowag boss: UK should remain open to alternative green fuels June 12, 2023 The founder and CEO of FTSE 250 firm Eurowag has said that the UK should remain open to synthetic fuels, amid impending bans on petrol and diesel vehicles and an ongoing wider debate over alternative fuels’ role in decarbonising. Speaking to City A.M. Martin Vohanka said he would like the UK to “stay open” to [...]
15,000 EasyJet passengers hit by flight cancellations at Gatwick due to stormy weather June 12, 2023 Easyjet has cancelled flights affecting over 15,000 passengers, as thunderstorms and poor weather conditions across the UK and Europe caused significant disruption. The budget airline cancelled 54 flights on Sunday and 55 on Monday due to take-off from Gatwick Airport. Easyjet said that “thunderstorms in the Gatwick area restricted the number of arrivals and departures [...]
London Heathrow reports booming May traffic as triple Bank Holiday eclipses strikes June 12, 2023 London’s Heathrow Airport had 6.7m passengers in May as a triple bank holiday and strong demand for transatlantic routes helped it shrug off eight days of strike action. The airport said this morning that it currently has “more daily flights than ever before between the UK and USA,” with one in four passengers flying between [...]
UK car and battery producers set to miss out on benefits from new UK-US partnership June 11, 2023 UK carmakers and battery producers will miss out on benefits from the much-anticipated US-UK economic partnership announced on Thursday, according to analysis from trade experts reported by the Financial Times. Britain’s automotive and electric vehicle (EV) industry had been hoping that “Atlantic Declaration” deals would help address concerns in the sector surrounding the impact of [...]