Nissan warns UK business hard to sustain without Brexit deal November 18, 2020 A top executive at Japanese car giant Nissan has warned that it would be hard to sustain its operations in the UK should the country leave the EU without a trade deal. Speaking to Reuters, chief operating officer Ashwani Gupta said: “If [the exit] happens without any sustainable business case obviously it is not a [...]
Tesla shares pop again on confirmation that firm will join S&P 500 November 17, 2020 Tesla shares jumped 14 per cent yesterday after it was announced that the electric car maker would join the S&P 500 index in December. The admission comes on the back of five consecutive quarters of profit at the California-based firm, which has thrived amid the coronavirus pandemic. Shares in Elon Musk’s company have risen around [...]
Nissan reportedly planning to sell stake in Mitsubishi Motors November 16, 2020 Nissan is reportedly mulling plans to sell all or part of its stake in fellow Japanese car giant Mitsubishi, in a move that would shake up the global car market. Two years on from the scandalous arrest of former chief exec Carlos Ghosn, the move would radically alter the global alliance between the two and [...]
Ban on new petrol and diesel car sales to be brought forward to 2030 November 14, 2020 Boris Johnson is set to announce that the ban on petrol and diesel vehicles will be brought forward to 2030. The announcement is expected as part of a landmark speech laying out the government’s 10 point plan for climate change. Back in February the ban on the sale of such vehicles was brought forward to [...]
Volkswagen to invest €73bn in digitalisation and electric cars November 13, 2020 Car giant Volkswagen will invest €73bn into developing hybrid and electric cars over the next five years, it was announced today. Investment in the new technologies, as well as into digitalisation, will now account for nearly half of the €150bn of spending the firm has scheduled. Almost half of the money – €35bn – will [...]
The Toyota GR Yaris is a thrilling rally car for the road November 10, 2020 Toyota took its next WRC race car, then made it road-legal. The result is the bespoke and ballistic GR Yaris – our hot hatchback of the year.
Car sales fall again in worst October in nine years November 5, 2020 Sales of new cars declined again last month in the weakest October in nine years for the UK car market. New figures from the Society of Motor Manufacturers and Traders (SMMT) said that sales dropped 1.6 per cent to 140,945. More than half of the decline came as a result of Wales’ two week “firebreak” [...]
BMW profit races back but second wave fears abide November 4, 2020 Car giant BMW’s profit came roaring back in the third quarter as growing Chinese demand for its cars helped the firm recover from the coronavirus pandemic. Profit at the German auto company rose 9.6 per cent to €2.5bn in the period, up from 2.2bn last year. BMW was boosted by a 31 per cent sales [...]
UK factories expand but lose momentum amid second wave November 2, 2020 The UK manufacturing continued its recovery in October as output and new orders climbed, but the rate of expansion slowed as the economy headed into a tough winter, a survey has shown. The IHS Markit/Cips manufacturing purchasing managers’ index (PMI) – a gauge of the sector’s health – slipped to 53.7 in October from 54.1 [...]
UK car production hits lowest level since 1995 as industry calls for ‘vital Brexit deal’ October 29, 2020 UK car production in September slumped to its lowest level since 1995, as the automotive industry urged ministers to strike a “vital Brexit deal” to secure jobs across the sector. According to new figures from industry body the Society of Motor Manufacturers and Traders (SMMT), factories produced just 114,732 cars in September, marking a five [...]