Volvo plans cost cuts to try and stem its losses September 4, 2013 VOLVO Cars said yesterday it aimed to break even this year, banking on a pick-up in China and cost cuts to turn around a first-half loss. It is seeking to take on larger global luxury brands such as BMW, Daimler’s Mercedes and Volkswagen’s Audi and win a market share big enough to foot the bill [...]
Spanish regulator opens probe into claims car sellers fix prices September 4, 2013 SPAIN’S antitrust regulator CNC said yesterday it is investigating possible price-fixing in the country by some of the world’s largest car firms. The probe will examine evidence that affiliates of, among others, Volkswagen, Renault, Peugeot, Toyota, General Motors and Ford shared market-sensitive information to set prices and service contracts. “These are considered very serious (alleged) [...]
New York Report: Syria pause and car sales data lift stocks September 4, 2013 U S stocks rose for a second day yesterday as a possible military action in Syria was seen as limited and strong auto sales lifted investor confidence in the US economy. The US Senate Foreign Relations Committee approved a resolution authorizing a limited U.S. military intervention in Syria, setting the stage for a debate in [...]
Not Convinced? September 3, 2013 HERE ARE SOME ALTERNATIVES VW Polo GTI 1.4 TSI DSG, £19,570 If you feel nostalgic about the first Golf GTIs, perhaps this Polo GTI is a better option. It’s only got a 1.4-litre engine that delivers just 177bhp, but it still gets up to 142mph and can hit 62mph in 6.9 seconds. It’s a good-looking [...]
Car production in Britain goes up a gear in July August 22, 2013 CAR MANUFACTURERS in Britain produced seven per cent more cars last month, and analysts are expecting output to accelerate further during the rest of the year. Almost 129,000 cars rolled off the production lines in UK factories in July, compared to 120,391 for the same month a year ago. This jump helped to take year-to-date [...]
Any Other Business – 14/08 August 13, 2013 ■ It’s barely 24 hours since BBC Newsnight presenter Jeremy Paxman shocked middle Britain with his Twitter-trending facial hair, but bookies are already taking bets on how long the interviewer’s designer stubble will last. Ladbrokes is offering 4/5 odds-on that Paxman’s beard sees out the week – while punters who think he’ll go for a [...]
Another rise in new car sales as industry thrives August 6, 2013 THE AUTOMOTIVE industry registered another expansion in July, with 162,228 new cars registered in the UK, the 17th monthly rise in a row. The announcement, made by the Society of Motor Manufacturers and Traders (SMMT), caused the industry body to raise its forecast for new registrations in 2013 to 2.216m units. This means the SMMT’s [...]
Another electric car maker finds crucial cost savings needed to drive this market forward August 6, 2013 General Motors has cut the price of its 2014 model of the Chevrolet Volt by $5,000 (£3,252) to boost demand for the electric car. Prices will start at $34,995, plus an $810 destination fee, although prices could fall as low as $27,495 if federal tax credits are taken into account (release). According to the United [...]
Car sales forecasts up as volumes rise for 17th consecutive month August 6, 2013 Car sales were up 12.7 per cent to 162,228 units in July, according to the Society of Motor Manufacturers and Traders (SMMT). The SMMT has hiked it forecast for 2013 car registrations to 2.216m units, up 8.4 per cent from last year. July's best sellers were the Ford Fiesta (9,089 units), the Ford Focus (7,229) [...]
U.S. results July 24, 2013 Ford boosts outlook Ford Motor boosted its full-year outlook and posted a second-quarter profit that trounced expectations on the strength of operations outside North America. Ford said its pre-tax operating profit this year would be “about equal or higher” than last year’s $8bn (£5.2bn), rather than “about equal”. For the second quarter, it reported a [...]