Tesla: UK sales slump by £500m as profit slashed Transport and infrastructure Sales at the UK arm of Elon Musk’s Tesla slumped by more than £500m as its profit was also slashed during its latest financial year. The division, which is headquartered in Manchester, has reported a revenue of £1.94bn for 2024, new accounts filed with Companies House show. The new figure comes after Tesla posted a [...]
Toyota’s UK profit almost wiped out amid ZEV mandate battle Transport and infrastructure Toyota’s UK profit has almost been wiped out as the carmaker battled a decline in market share and compliance with the ZEV [Zero Emission Vehicle] mandate. The Surrey-headquartered division has posted a pre-tax profit of £462,000 for the 12 months to 31 March, 2025, down from the £11.5m it achieved in the prior year. New [...]
Maserati: UK profit surges as sales accelerate Transport and infrastructure Profit at the UK arm of Maserati has almost doubled in the last four years as its sales continue on their upward trajectory. The car maker, which is owned by Stellantis, has reported a pre-tax profit of £326,000 for 2024, up from the £321,000 it posted in 2023. The latest figure is up from the [...]
Auto Trader: Brits turn to older cars amid ‘economic uncertainty’ July 29, 2025 Brits are turning their backs on new cars choosing to buy more older models amid “ongoing economic uncertainty”, according to FTSE 100 giant Auto Trader. The Manchester-headquartered company said a “standout trend” of 2025 so far is the “growing appetite for affordable used cars”, particularly those aged between five and 10 years old. Auto Trader has [...]
Rolls-Royce banking on bespoke cars to attract super-rich July 23, 2025 Wealthy buyers seeking to personalise their new Rolls-Royce helped boost the luxury car brand’s profit in 2024 despite falling sales. The Hampshire-based business, which is owned by BMW, said its bespoke service reached a record level last year with a 10 per cent increase on average per car year-on-year. Rolls-Royce Motor Cars added the rise [...]
Lloyds Bank-owned firm slumps into the red after huge profits July 15, 2025 Lex Autolease, the car leasing company owned by Lloyds Bank, has fallen into the red two years after posting a profit of more than £500m. The firm, which is headquartered in London, has reported a pre-tax loss of £10.6m for 2024, according to new accounts filed with Companies House. The total comes after the business achieved [...]
Arnold Clark counts the cost of Rachel Reeves’ tax hikes July 1, 2025 Car dealership giant Arnold Clark has revealed the tax hikes announced by Rachel Reeves in her first Budget as Chancellor will cost it an extra £30m a year. The Glasgow-headquartered group said the increase in employer’s National Insurance contributions and the rise in the National Minimum Wage will mainly be responsible for the rise. Arnold [...]
Motorway CEO: How I built my $1bn empire after a huge failure June 16, 2025 The co-founder and chief executive of used car marketplace Motorway has opened up about how he helped to build a $1bn empire from scratch following the biggest failure of his career. On an up-coming episode of City AM’s Boardroom Uncovered show, Tom Leathes also revealed how he and his fellow founders landed on the car [...]
Volvo issues warning despite record UK sales June 11, 2025 Volvo has issued a warning despite its UK sales surging to more than £2bn and its profit almost quadrupling in 2024. The division of the Swedish car-making giant, which is headquartered in Berkshire, has reported a revenue of £2.3bn for its latest financial year, up from the £1.7bn it achieved in 2023. New accounts filed [...]
Porsche: Trump tariffs and China troubles to slash sales and profit April 29, 2025 Porsche has cut its forecasts for 2025 amid fears over the impact of President Donald Trump’s tariffs on the global car industry. The luxury sports car maker expects to report a profit margin of between 6.5 to 8.5 per cent this year, down from prior guidance of 10 to 12 per cent. Revenue is also [...]