March car production falls to lowest in 24 years as markets feel supply chain squeeze April 5, 2022 The UK’s automotive production in March fell to the lowest since 1998 as markets continued to feel the supply chain squeeze. According to data from the Society of Motor Manufacturers and Traders (SMMT), new car registrations fell by 14.3 per cent to 243,479 units while overall the first quarter of 2021 reported a 1.9 per [...]
Growth in UK manufacturing sector plummets to 13-month lows April 1, 2022 Growth in the UK’s manufacturing sector has plunged to its lowest levels in more than a year, due to the impacts of soaring inflation, supply shortages, and the war in Ukraine. The rate of expansion in the UK’s manufacturing sector has dropped to its lowest levels in 13 months, according to S&P Global’s Purchasing Managers [...]
Stellantis to close Russian van plant as supply chain issues bite March 31, 2022 Automotive giant Stellantis said today it will be forced to close its Russian van plant following a shortage of parts. Operating only for the local market, the facility is situated in the western city of Kaluga and was run in partnership with Mitsubish. The world’s fourth-largest car maker didn’t specify whether it would write down [...]
UK’s second biggest automotive firm Pendragon’s profits soar in post-pandemic revival March 23, 2022 The second biggest automotive retailer in the UK, Pendragon, increased its underlying pre-tax profit by ten-fold in 2021. The Nottingham-based firm increased its revenue by 18 per cent from the pandemic year, making £61.5m in profit after 2020’s near-£25m loss. It also had £83m in underlying profit before tax, a major improvement from 2020 which [...]
Manufacturing firm Essentra’s revenue up after pandemic and ‘supply chain headwind’ March 18, 2022 Plastics and fibre manufacturer Essentra experienced a a spike in revenue in 2021, as it continues to weather the storm of supply chain problems impacted by the Ukraine war. The FTSE 250-listed company had an increase in overall revenue to £960m, up from £897m in 2020, representing a seven per sent rise. Its pre-tax profit [...]
Lockheed Martin dives into Satellite Vu’s £20m funding round March 2, 2022 Lockheed Martin has dived into a £20m funding round for Seraphim Space-backed Satellite Vu, as the US aerospace giant looks to plant a new space base in the UK. The London-based satellite firm, which uses infrared imaging and data to observe the Earth from space, has caught the eye of Lockheed in hopes of luring [...]
Polestar 5: new electric Porsche-rival is being developed in Britain February 21, 2022 Polestar has a new R&D division in Coventry to mastermind its EVs, starting with the Polestar 5 – a competitor for the Porsche Taycan.
Iveco’s profits boom following surge in orders February 8, 2022 Automotive giant Iveco has registered a boom in profits after closing 2021 with a 77 per cent increase in worldwide order intake. The group’s profits for the full year surged from a net loss of €167m to a €140m adjusted net income, while adjusted diluted earnings per share went up to €0.43 from a loss [...]
Best year ever for plug-in cars: Tesla becomes UK’s second best-selling car as electric vehicle take-up accelerates January 6, 2022 Tesla’s Model 3 became the UK’s second best-selling new car last year, signalling the appetite for electric vehicles. In fact, it was the best year on record for plug-in cars, both battery electrics and plug-in hybrids, with 305,000 registered, accounting for around one in six of all new cars bought. But overall demand for new [...]
Tech Special: The jobs, sectors and countries most at risk of automation and robotics in 2022 January 5, 2022 Digital change and automation are driving enormous productivity gains in the world of work. However, the rapid changes mean many individuals, businesses and even entire nations will be hugely impacted by automation and tech, with some roles and jobs to be replaced by robots altogether. Many of the industries that are most at risk of [...]