British Lamborghinis supplier to debut on AIM with £75m listing December 20, 2021 CT Automotive will debut on London’s junior stock market with a market capitalisation of around £75m this week, after raising £33.6m in an initial public offering (IPO). The company supplies parts for the interiors of cars, such as cup holders, air vents and dashboard panels. Nissan, luxury brands including Bentley and Lamborghini and electric car [...]
Will autonomous vehicles succeed in revolutionising travel? December 6, 2021 Investors have a bird’s-eye view of the driverless revolution happening before their eyes Recently, Cruise, the autonomous vehicle subsidiary of General Motors, announced that they plan to have one million or more autonomous vehicles in their fleet by 2030. In late September 2020, the research arm of Toyota Motor Corporation, Woven Planet, acquired Renovo, an automotive operating system software [...]
Cazoo acquires Spanish car marketplace in €30m deal November 16, 2021 London-based online car retailer Cazoo has acquired Spanish car subscription marketplace Swipcar in a €30m deal, following the decision to expand more into the European market. “Swipcar has built a market-leading car subscription marketplace in Spain adding hundreds of new customers every month,” Alex Chesterman, Cazoo’s founder and chief executive said. “This deal will enable [...]
Morgan Plus Four CX-T review: Let’s off-road! November 13, 2021 The Morgan Plus Four CX-T is a crazy collision between a classic sports car and a desert racer. Tim Pitt tries to make sense of it.
Car rental Hertz ups its share expectations ahead of relisting November 9, 2021 Shareholders of Hertz increased the size of their public offering of shares by 20 per cent, ahead of plans to relist on the Nasdaq.
Car reliance hits 15-year high as Londoners commute less and switch to driving October 23, 2021 Reliance on cars has reached a 15-year high despite a drop in commuting, according to a new survey. More than four out of five (82 per cent) Londoners in an annual RAC poll of motorists said they would struggle without access to a car. That is up from 79 per cent last year and 74 [...]
Used car prices skyrocket as UK inflation eases October 20, 2021 The UK average price of a used car has increased by 23.9 per cent this week as a result of September’s inflation rates easing to 3.1 per cent. Data from automotive advertising firm Auto Trader have also revealed that year-on-year prices quadrupled this week, especially if compared with the 5.7 growth recorded in the week [...]
Tesla competition may force Volkswagen to speed up electric transition with job losses looming October 13, 2021 Competition from Tesla is pushing Volkswagen to think about speeding up its transition to electric vehicles, and that could spell job losses for its army of workers. Watch the full report.
Vertu exceeds market expectations in six-month results October 13, 2021 Automotive retailer Vertu has exceeded market expectations, registering a £51.8m adjusted profit before tax on revenues amounting to £1.9bn. In the six-month period ending 31 August, the company reported a gross margin of 11.6 per cent as well as a £57.3m net cash flow, compared to £36.5 registered in the first quarter of FY2021. “The [...]
Vehicles are the UK’s most valuable export as revenues reach £27bn October 12, 2021 UK export revenues for vehicles have reached £27bn in 2020, making vehicles Britain’s most valuable trade good. In a report published today, the Society of Motor Manufacturers and Traders (SMMT) highlighted how the British automotive sector kept on generating revenue even during the Covid-19 pandemic. As a whole, the country’s industry produced a £74bn total [...]