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 [...]
Enterprise Rent-A-Car creates over 700 UK jobs as sales pass £2bn April 23, 2025 More than 700 jobs were created by the UK arm of Enterprise Rent-A-Car as rising demand helped sales pass the £2bn mark during its latest financial year. The Surrey-based division of the US giant increased its headcount to 6,778 in the 12 months to 31 July, 2024, according to new accounts filed with Companies House. [...]
Nissan: Qashqai maker in the red despite sales accelerating by over £2bn April 4, 2025 The UK arm of Japanese carmaking giant Nissan fell into the red despite its sales surging by more than £2bn, it has been revealed. Based out of its Sunderland factory, Nissan’s UK arm has reported a pre-tax loss of £67.2m for the 12 months to 31 March, 2024, new accounts filed with Companies House show. [...]
US tariffs: UK ‘reserves right to respond’ after carmakers meeting March 28, 2025 The UK reserves the right to respond to American tariffs, Sir Keir Starmer has said, after US President Donald Trump’s decision to slap a 25 per cent import tax on cars. The Prime Minister said his government was involved in ongoing discussions with the White House aimed at “mitigating the impact” of any levies but [...]
Why boss of FTSE 100 giant Auto Trader might ditch his Tesla March 25, 2025 The boss of FTSE 100 Auto Trader may ditch his Tesla in the future as rivals to Elon Musk's giant become more competitive on price.
New car market in UK up 2.6 per cent in 2024, figures reveal January 4, 2025 The UK’s new car market recorded its second successive year of growth with a 2.6 per cent rise in registrations in 2024, new figures show. Industry body the Society of Motor Manufacturers and Traders (SMMT) said around 1,953,000 new cars were registered last year, compared with 1,903,000 in 2023. Growth was delivered entirely by purchases [...]
Cyber attack dents profit at Arnold Clark as sales near £5bn November 19, 2024 Sales at car dealership giant Arnold Clark edged closer to the £5bn mark but the aftermath of a cyber attack and rising costs contributing to a significant cut to its profit. The Glasgow-headquartered group has reported a revenue of £4.96bn for 2023, newly-filed accounts with Companies House have revealed. The latest total comes after Arnold [...]
Vertu Motors: Profit at car dealership giant falls as UK sales stall October 16, 2024 Profit at car dealership Vertu Motors reversed during the first half of its financial year as UK sales of new cars stalled. In interim results filed with the London Stock Exchange, Gateshead-headquartered Vertu Motors reported a pre-tax profit of £22m for the six months to 31 August, 2024, down from the £30.1m it achieved in the [...]
Citroen sales accelerate as profit more than doubles October 15, 2024 Sales at the UK arm of Citroen accelerated by almost £200m in 2023 as its profit more than doubled, it has been revealed. The Coventry-headquartered car maker has reported a revenue of £1.2bn for its latest financial year, up from the £1.01bn it achieved in 2022. Newly-filed accounts with Companies House also show its pre-tax [...]