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 [...]
Porsche Macan EV review: Popular performance SUV goes electric October 15, 2024 You’ll note the title of this review refers to the ‘Porsche Macan EV’. In truth, this car is just the ‘Macan’ – a clean-sheet new SUV intended to replace the long-serving combustion car. However, the market’s less-than-ravenous appetite for EVs has forced a rethink. So, for now at least, Porsche will continue selling the petrol-powered [...]
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 [...]