Fuel hikes leave UK drivers with £700 less in their pockets MOTORISTS Fuel prices spiking to record levels will leave UK drivers with £700 less per year, according to used car buying service ChooseMyCar.com. Figures revealed that the cost of filling up has increased by £25 per tank, resulting in a yearly range of between £525 and £700 for a car with an average mileage of 13,000 [...]
Cars should be banned from parking on pavement because of ‘discriminatory’ impact Car parking Cars should be banned from parking on the pavement because of the “discriminatory impact” the practice has on people, according to a report published today. Commissioned by sustainable transport charity Sustrans, the study highlights that people are put off walking because of the large amounts of cars parked on the pavement. Around 70 per cent [...]
UK bus output on pathway to recovery while HGVs slump because of headwinds AUTOMOTIVE OUTPUT The UK’s bus and coach output is on the pathway to recovery while HGVs continue to slump because of Covid-induced supply chain issues. According to quarterly data released today by the Society of Motor Manufacturers and Traders (SMMT), the UK new bus and coach market grew by 45.2 per cent following the end of all [...]
Cazoo’s boss Chesterman buys $1m worth of shares following price slump May 16, 2022 Cazoo’s chief executive Alex Chesterman bought $1m worth of company shares last week after the online automotive retailer’s price slumped. Following the purchase, Chesterman’s stake in the company has gone up to over 23 per cent to more than $250m, Sky News first reported. “Whilst the current macroeconomic climate has driven heightened fear in the [...]
‘The new normal’: Nissan says industry needs to live with chip shortages May 12, 2022 The automotive industry needs to live with semiconductor shortages as they have become “the new normal,” according to Nissan. “Semiconductor shortage is a new normal, same as the pandemic, and we have to live with it because this is not going to finish tomorrow morning,” chief operating officer Ashwani Gupta said today. The Japanese automotive [...]
Cazoo makes Spanish debut following €30m acquisition of rival May 12, 2022 Cazoo made its debut in Spain today, six months after it acquired Barcelona-based rival Swipcar for €30m. The Spanish launch followed the opening of its marketplace in Germany and France late last year and is part of Cazoo’s continental expansion. “We are very excited to launch in Spain, following our recent launches in both France [...]
Supercar Special: 15,230 vehicles worth £770k+ each now on UK roads with Ferrari beating McLaren, Lamborghini and Bugatti May 9, 2022 There are now 15,230 so-called supercars on UK roads, with Ferrari topping the list, beating its main rivals McLaren and Lamborghini. Supercars are defined as high performance, road legal cars. Easily recognisable supercar brands such as Ferrari, McLaren and Lamborghini are best known for their speed and cost. The average price tag for a supercar [...]
Car insurance prices sink to lowest in seven years May 5, 2022 Car insurance prices have, on average, sunk to the lowest since 2015, the Association of British Insurers (ABI) announced today. Comprehensive prices, which are now at £416, dropped 5 per cent compared with 2021 levels following the Financial Conduct Authority’s decision to offer both new and returning customer the same tariff, and end “loyalty premiums.” [...]
Bentley profit jumps 162 per cent despite lost cargo May 5, 2022 Bentley announced its first quarter profit jumped 162 per cent even though it lost 200 cars in a shipping fire. In the three months ended 31 March, the British luxury car maker posted a €170m (£144.4m) operating profit, while revenues went up to a total of €813m after returns per car increased 15 per cent, [...]
UK automotive production outlook downgraded following April slump May 5, 2022 The automotive industry was forced to downgrade its 2022 production outlook after the number of cars built in April slumped 15.8 per cent. Data published today by the Society of Motor Manufacturers and Traders (SMMT) revealed the number of new car registrations fell to 119,167 units due to covid-induced semiconductor shortages. The decline, the data [...]