Driverless cars set for UK roads by the end of the year April 28, 2021 Britain’s roads could see their first driverless cars by the end of the year after the Department for Transport gave an autonomous driving system the green light today. Officials said that the technology could improve road safety by reducing human error, which contributes to over 85 per cent of accidents. In a statement this morning, [...]
Lotus to invest £2bn in switch to electric and revamp of UK plant April 28, 2021 Sports car maker Lotus will build electric vehicles in the UK as part of a £2bn investment push aimed at massively increasing its production capacity. The Hethel-based firm yesterday announced that it would switch to selling only electric cars by 2028. Its last combustion engine car, the Emira, will launch this summer. As part of [...]
Manufacturing optimism at highest levels in nearly 50 years April 22, 2021 UK manufacturers’ hopes for an economic rebound rose to their highest levels in nearly half a century this month as Britain slowly began its exit from Covid-19 lockdowns. According to the latest CBI quarterly Industrial Trends survey, its quarterly business optimism gauge jumped to +38, its highest level since April 1973. In January, amid the [...]
Mercedes maker Daimler to cut hours of 18,500 workers due to chip shortage April 21, 2021 Mercedes maker Daimler today said it would cut the hours of some 18,500 workers at its factories in Germany due to the current shortage of semiconductor chips. The auto giant also said it would halt production at two plants for a temporary period of time. A spokesperson for the Stuttgart-headquartered firm said that it was [...]
World’s biggest semiconductor maker warns that shortage could continue into 2022 April 15, 2021 The world’s biggest semiconductor maker this morning warned that the current chip shortage could well last into 2022. Taiwan Semiconductor Manufacturing Co (TSMC) said that it was doing everything it could to alleviate the drought of the processors, which are vital for a vast range of electric devices. Chief exec C. C. Wei told investors [...]
Ford to further cut car production due to global semiconductor chip shortage April 14, 2021 Ford to further cut car production due to global semiconductor chip shortage
Exclusive: Covid-19 drives Londoners behind the wheel sooner than planned April 14, 2021 London dwellers are now more likely to buy a car sooner than planned than in any other region of the UK as a result of Covid-19. New figures from Close Brothers Motor Finance, shared exclusively with City A.M., show that over a fifth of Londoners – 21 per cent – are now more likely to [...]
Car sales pick up in March as market shows signs of life April 6, 2021 Car sales rose 11.5 per cent in March as the UK market began to show signs of life after a dire year for the automotive industry. According to data from the Society from Motor Manufacturers and Traders (SMMT), sales remain around 37 per cent below the monthly average for March between 2010-2019. The third month [...]
Sterling steadies after strongest quarter against the euro since 2015 April 1, 2021 The pound was little changed against the dollar on Thursday and a touch lower against the euro, but traders remained optimistic about its longer-term prospects. Sterling had its strongest quarter against the euro since 2015 in the first three months of the year, gaining around 4.8 per cent. UK manufacturing activity grew sharply in March [...]
UK PMIs: Manufacturing activity soars to decade high in March April 1, 2021 UK manufacturing activity grew sharply in March as business optimism hit a seven-year high and vaccine rollouts buoyed the industry, according to new data. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose to 58.9 per cent last month, marking the highest reading in just over a decade. The index leaped from last month’s 55.1 [...]