Autotech M&A deal value falls to five-year low in second half of 2018 February 20, 2019 Merger and acquisition value in the automotive technology sector hit a five year low in the second half of 2018 as car manufacturers struggled with dwindling demand in China and a global crackdown on emissions. A total of 100 M&A deals were completed in the second half of last year, including Renault, Ford and Volkswagen’s [...]
Volkswagen invests £750m in electric battery manufacturing ahead of e-vehicle mass production January 25, 2019 Volkswagen is to start making electric car batteries and charging points, as it readies itself to mass produce electric vehicles in the coming years. The German car maker said today it will invest $870m (£754m) by 2020 in developing parts for electric cars, adding its batteries operation would make new battery cells as well as [...]
Ford profits hit by tariffs as US car maker records losses in every region except North America January 24, 2019 Ford, the second biggest car maker in the US, recorded losses in every global region except North America in 2018, according to its full-year results. The company, which is in the midst of a major global restructuring drive, is to implement cost-reduction plans and job losses in Europe, looking to shake up its South American [...]
European car sales down for fourth straight month as emissions testing continues applying skids to market January 16, 2019 A fall in Chinese demand and tougher emissions testing continued to put the brakes on European car sales in December, which dropped for the fourth month in a row. New car registrations dropped 8.4 per cent last month, said the European Automobile Manufacturers Association (EAMA), following an eight per cent drop last month. Read more: Off [...]
World Federation of Advertisers sets up digital media taskforce to tackle fraud January 14, 2019 The World Federation of Advertisers (WFA) has created a global taskforce to tackle the growing problem of ad fraud and improve data transparency. The WFA today said it has assembled a team of top marketing executives tasked with addressing the key challenges facing digital media. Read more: Brexit, ad fraud and #MeToo – what does the [...]
Volkswagen deliveries fall year-on-year in December January 11, 2019 Volkswagen deliveries fell by 9 per cent year-on-year in December, the car maker revealed today. Worldwide deliveries to customers shrunk to 540,600 cars from 594,200 in December 2017. However, overall deliveries were up by 0.2 per cent to 6.24m last year – hitting a new record – the group said. The ongoing trade war with the [...]
Volvo facing £600m hit over concerns engines exceed emissions limit January 4, 2019 Volvo has set aside 7bn Swedish krona (£616m) to fix issues with some of its engines amid concerns they could exceed emissions limits, the company has said. The Swedish car manufacturer last night said the costs relate to the testing of vehicles, statistical analysis and dialogue with relevant authorities. “The next step will be to [...]
AA wins multi-million-pound contract to service VW cars December 18, 2018 The AA today secured a two-year extension to its contract with Volkswagen in a deal worth tens of millions of pounds. The breakdown cover provider will continue to cover all new vehicles in the Volkswagen group, which includes Audi, Seat and Skoda, the company said today. The two companies have worked together since 2014, and [...]
Could the UK be on the brink of a US-style class action explosion? December 16, 2018 The Royal Bank of Scotland, Lloyds Banking Group, Tesco, Google and Mastercard. These are just a handful of the household names that have been targeted in group action lawsuits in the UK with billions of pounds at stake. The UK, unlike the US or Australia, does not have a long history of class action-style lawsuits, [...]
Palladium hits high as its soars above gold price December 5, 2018 Palladium has soared to record levels, eclipsing the value of gold for the first time in 16 years. The metal, which is primarily used to help reduce emissions in petrol-driven cars, has jumped by around 50 per cent over recent months to a high of $1,264 per ounce. This today put it at a premium to gold, which [...]