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 [...]
Boardroom Uncovered: Can Motorway change how the UK views used cars? June 25, 2025 Speaking on the latest episode of Boardroom Uncovered, Tom Leathes opened up about the chances of Motorway going public on the London Stock Exchange.
Toyota braced for motor finance pay out as ruling nears June 18, 2025 Toyota has set aside millions in case the Supreme Court rules the company and the wider industry should pay customers compensation when it delivers its verdict on the motor finance saga in the coming weeks. The UK-based financial services arm of the car giant has earmarked the funds to shore itself up in the eventually [...]
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 [...]
Can Cazoo go from collapse to Auto Trader’s ‘undisputed’ rival? June 2, 2025 Cazoo can double in size over the next couple of years and become the undisputed number two to FTSE 100 giant Auto Trader, the man charged with its phoenix-like recovery has said. Barry Judge, who helped rescue the brand after it collapsed in May 2024, added that the company is working on winning back the [...]
Nissan: UK taxpayers to guarantee £1bn loan amid Sunderland plant uncertainty May 28, 2025 The UK taxpayer is to guarantee a £1bn loan to Nissan as part of a major restructuring of the struggling carmaker. The Japanese firm announced plans earlier this month to axe 20,000 jobs globally and shut down seven factories. Confirmation of the restructuring piled uncertainty onto the future of its Sunderland facility, which is the [...]
Stellantis: Vauxhall owner picks former Jeep boss as chief executive May 28, 2025 Stellantis has picked 25-year veteran Antonio Filosa as its new chief executive amid an ongoing turnaround effort that was given fresh urgency by President Donald Trump’s shock tariff announcement. Filosa, who is currently Stellantis’s chief operating officer for the Americas, will take the top job on 23 June following a unanimous verdict by the board. [...]
Why your next car will be grey and your next thought will be too May 22, 2025 The decline of colour in consumer products mirrors a troubling trend in AI, where bias and homogenisation threaten intellectual diversity, societal fairness, and the integrity of human knowledge itself, says Lewis Liu This week we’re getting a new family car. When my wife texted me the website showing color choices, I texted back, “I cannot [...]