Jaguar Land Rover: Profit accelerates but sales stall November 8, 2024 Jaguar Land Rover has revealed its pre-tax profit accelerated by 25 per cent during the first half of its financial year despite its revenue flatlining. The automotive giant has reported a profit of £1.1bn for the first six months of its year to the end of September 2024. However, its revenue remained at £13.7bn. For [...]
Bentley pushes back full all-electric switch to 2035 November 7, 2024 Bentley Motors has pushed back its switch to only making electric cars to 2035, it has been confirmed. The Crewe-headquartered luxury car maker, which is owned by Volkswagen, had originally announced in November 2020 that it intended to go all-electric by 2030. The aim was again reiterated in January 2022 when Bentley revealed plans to launch [...]
Autumn Budget 2024: Fuel duty frozen as hike would be the ‘wrong choice’ October 30, 2024 Chancellor Rachel Reeves has declared a rise in fuel duty in 2025 would be the “wrong choice” as she pledged to continue the freeze and maintain the temporary 5p cut for another year. In her first Budget, Reeves told MPs that to retain the 5p cut and freeze fuel duty again would cost more than [...]
Aston Martin slashes loss by over £100m October 30, 2024 Aston Martin slashed its pre-tax loss by 90 per cent during its latest financial period after being boosted by a rise in its wholesale volumes. The Warwickshire-headquartered luxury car maker has reported a pre-tax loss of £12.2m for its third quarter, down from the £117.6m loss it posted during the same three-month period in 2022. [...]
Lookers in the red after £504m take-private deal October 28, 2024 Car dealership giant Lookers slumped into the red in the year it was taken private in a deal worth more than £500m. The Cheshire-headquartered business has reported a pre-tax loss of £5m for 2023, having posted a pre-tax profit of £73.9m in 2022. The loss comes as newly-filed accounts with Companies House show Lookers’ revenue [...]
Unique Rolls-Royce Phantom Goldfinger is the ultimate Bond car October 25, 2024 As an emphatic statement of wealth, it’s hard to top a Rolls-Royce made from solid gold. But then Auric Goldfinger was never the modest or timid type. It was 1964 when this evil mastermind scaled the Swiss Alps in his Phantom III Sedanca de Ville, pursued at a safe distance by Sean Connery as James [...]
New Porsche 911 GT3 revealed – including option of rear seats October 18, 2024 Say Guten Tag to the new 911 GT3. The most hardcore, track-focused version of Porsche’s iconic sports car has received a mid-life makeover, with revised aero, a shorter final-drive ratio and more lightweight parts. Plus the option of rear seats for the first time. The updated, fourth-generation GT3 – known as the 992.2 to Porsche [...]
Morgan Motor Company: Sports car maker sinks further into the red October 18, 2024 The firm behind sports car maker Morgan Motor Company saw its pre-tax loss widen by more than £10m during its latest financial year as it was hit with supply chain issues and increased costs. The Worcestershire-headquartered business has reported a pre-tax loss of £25.5m for 2023, after having posted a pre-tax loss of £15.5m for [...]
AA: More customers helps profit surge at breakdown giant October 16, 2024 A growing customer base has helped boost profit at the AA after a US investor took a £450m stake in the motoring group. The breakdown giant has posted a pre-tax profit of £39m for the six months to the end of July 2024, up 70 per cent compared to the same period in 2023. The [...]
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 [...]