Car industry investment grinds to a halt as Brexit uncertainty cripples sector July 31, 2019 Investment into Britain’s car manufacturing industry has come to a near-standstill, as companies divert hundreds-of-millions of pounds towards mitigating a potential no-deal Brexit which they fear will plunge the sector into chaos. Inward investment into the sector plummeted more than 70 per cent to just £90m in the first six months of the year, according [...]
Volkswagen and Ford strengthen ties by teaming up on electric and self-driving cars July 12, 2019 Two of the world’s biggest car makers, Volkswagen and Ford, have moved their existing commercial partnership up a gear this afternoon to collaborate on electric cars and self-driving cars. Read more: Ford gears up to announce up to 550 job losses for UK office workers amid turnaround efforts The firms are looking to pull ahead [...]
Daimler in fourth profit warning of the year over airbags and diesel emissions July 12, 2019 Daimler, the German car giant that owns Mercedes, this morning issued its fourth profit warning of the year after it unearthed fresh financial risks surrounding its diesel emissions scandal. The car maker made a similar warning on June 23, but it has reassessed the risk of fines from court battles and government measures. These have [...]
Tanfield dives after profits warning July 2, 2008 Electric vehicle maker Tanfield crashed more than 80 per cent after warning its profits would be drastically hit by the economic slowdown. Stunned City investors questioned the management’s credibility after the Tyne and Wear-based company gave no hint of what was to come in a statement issued on Friday in response to its share price [...]
Dial M to turn the wheels November 2, 2005 The new BMW looks fabulous, goes like a dream and costs £80k, but you need a computing degree to drive it. There are few cars that cook tarmac as well as those engineered in BMW’s “M” division, and the new £80,000 M6 is no exception. With a 500bhp V10 stuffed under the bonnet it’s been [...]
Show Stoppers November 2, 2005 Bored and want somewhere to go, then vroom along to these car events There is plenty to quench the thirst of parched petrol heads this week, whether their tonic be car, motorbike or truck. First up is the International Motorcycle and Scooter Show which will involve a trip out of the capital and up to [...]
GM and SAIC to build ‘green’ cars November 1, 2005 American carmaker General Motors and China’s SAIC have signed an agreement to collaborate on manufacturing fuel-efficient hybrid cars for the Chinese market. GM chairman and chief executive Rick Wagoner and SAIC chairman Hu Maoyuan signed a memorandum of understanding yesterday in Shanghai that will see the two firms working together to develop a range of [...]
Honda profit accelerates October 28, 2005 Japanese car and motorcycle maker Honda reported an industry-beating increase of just over 1 per cent in its first-half profits to 244.4bn yen (£1.2bn), buoyed by higher global vehicle sales. Turnover grew by 10 per cent to a record 4.6trn yen, as global vehicle sales rose 6.9 per cent to 1.6m units. The increase in [...]