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The International Energy Agency (IEA) has called for a global ban on the sale of petrol and diesel cars by 2035. In a report published today, the intergovernmental agency said that global progress on the transition to net-zero transport is falling short of Paris Agreement targets. The study revealed that electric vehicles need to increase [...]
New figures show this morning that months of decline in the new car market has come to a halt. Registrations of new cars increased by 1.2 per cent last month compared with August 2021, according to the Society of Motor Manufacturers and Traders (SMMT). Some 68,858 new cars were registered in the first monthly growth [...]
Registrations of new cars fell by around 24 per cent last month compared with June 2021, according to preliminary figures from the Society of Motor Manufacturers and Traders (SMMT) this morning. This means the UK automotive industry suffered its worst June for new car sales since 1996. In fact, only around 800,000 new cars were [...]
British car makers face a 50 per cent increase in energy costs this year, an industry body warned this a.m. Analysis by the Society of Motor Manufacturers and Traders (SMMT) stated that the sector’s annual energy bill – which is already £50m more than its European Union rivals – will rise by £90m in 2022. [...]
French insurer Axa has called on the government to offer greater clarity around autonomous vehicles to support the rollout of self-driving cars. The French insurance firm called on the government to put in place laws that enable the deployment of self-driving vehicles, as it said lawmakers should work with the insurance sector to “pave the [...]
There is widespread shock and surprise in the car industry this morning as the DfT said all grants for new EVs have been scrapped.
AB Dynamics, manufacturer of driving robots and simulators used by the Alfa Romeo Formula 1 team, had £37m in revenue in the six months up to February, more than £10m more than the previous year. The company had £5.7m in operating profit, a 63 per cent increase on 2021, while net cash was down 16 [...]
The UK’s automotive production in March fell to the lowest since 1998 as markets continued to feel the supply chain squeeze. According to data from the Society of Motor Manufacturers and Traders (SMMT), new car registrations fell by 14.3 per cent to 243,479 units while overall the first quarter of 2021 reported a 1.9 per [...]
Automotive giant Stellantis said today it will be forced to close its Russian van plant following a shortage of parts. Operating only for the local market, the facility is situated in the western city of Kaluga and was run in partnership with Mitsubish. The world’s fourth-largest car maker didn’t specify whether it would write down [...]
The second biggest automotive retailer in the UK, Pendragon, increased its underlying pre-tax profit by ten-fold in 2021. The Nottingham-based firm increased its revenue by 18 per cent from the pandemic year, making £61.5m in profit after 2020’s near-£25m loss. It also had £83m in underlying profit before tax, a major improvement from 2020 which [...]
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