Mercedes Benz joins legal battle over £9bn motor finance scheme Regulation Mercedes Benz is confirmed to be among the four legal challenges lodged against the UK financial watchdog’s motor finance redress scheme. The financial services arm of the German car giant is set to challenge the scheme that puts the car finance industry on the hook for £9.1bn in compensation. The carmarker has thus far set [...]
Aston Martin turnaround stalls as carmaker posts loss Markets Aston Martin’s turnaround under billionaire Lawrence Stroll remains stuck in first gear as the car manufacturer posted another loss. The FTSE 250 firm posted a £66m pre-tax loss in the first three months of this year, which is 18 per cent narrower than this time last year, though total car sales dropped by one per [...]
Motor finance: City watchdog faces legal battle over £9bn scheme Banking The City watchdog is set to face a legal challenge to its motor finance redress scheme after being accused of leaving motorists “out of pocket”. The Financial Conduct Authority (FCA) revealed its highly-anticipated £9.1bn scheme at the end of March, which cut the headline bill for lenders from £11bn. But Consumer Voice – a group [...]
Lloyds shares slump amid questions over motor finance legal battle April 2, 2026 Lloyds shares slumped this morning even as the banking giant declared it would not have to top up its provisions following the confirmation of a motor finance redress scheme. The group – which owns the UK’s largest car finance lender Black Horse – said it had “undertaken an assessment of the implications and impact” of [...]
UK rental giants swap petrol for EVs as sales reach record highs February 2, 2026 Electric and hybrid cars are quickly becoming the default choice for British drivers, bolstered by soaring EV sales and rental firms swapping out petrol and diesel models for low-emission vehicles. Strong growth in electric vehicle sales globally and domestically is feeding straight into hire fleets. Chinese electric vehicle giant BYD, for instance, reported overseas deliveries [...]
Nissan loses £888m as major recovery plan accelerates January 5, 2026 The UK arm of car giant Nissan lost £888m during its latest financial year ahead of a major recovery plan taking effect, it has been revealed. The Sunderland-headquartered business has posted the pre-tax loss which is up significantly from the £67m it lost in the prior 12 months. Nissan said its latest accounts, filed with [...]
Used car marketplace Motorway takes out £25m loan after losses widen January 5, 2026 Motorway has agreed a fresh £25m loan after the online car marketplace reported widening losses. The London-based tech firm, which hit a valuation of over $1bn in a 2021 funding round, said it secured the loan one day before Christmas Eve, with £15m having already been drawn down by the end of the year. The [...]
Toyota warns of ‘challenging road ahead’ after profit falls £100m December 3, 2025 The UK manufacturing arm of Toyota has warned “the road ahead may be challenging” after its profit slumped by more than £100m during its latest financial year. The division of the Japanese giant said the “uncertainties of the automotive industry and infrastructure to support vehicle type” were the main factors behind its pessimism. However, Toyota [...]
Jaguar Land Rover: JLR loses almost £500m after cyber attack November 14, 2025 Jaguar Land Rover (JLR) lost almost £500m during the second quarter of its financial year as it battled the most expensive cyber attack in British history. The automotive giant has reported a loss before tax and exceptional items of £485m for the three months to 30 September, 2025. The figure compares to a profit of [...]
Motorpoint sold hundreds of cars using AI agent as profits jump November 12, 2025 Motorpoint has revealed it sold hundreds of cars using its new AI agent as the car dealer reported a jump in profits. Chief executive Mark Carpenter said the use of the agent allowed the London-listed firm to be more persistent with its sales strategy when human sales agents might have given up. “We’ve sold about [...]