Brexit is ‘threat’ to UK car factories says parent firm of Vauxhall, Citroen, Peugeot and Fiat Brexit threat One of the world’s largest carmakers has said it will be unable to keep their commitment to make electric vehicles in the UK without changes to the Brexit deal. Stellantis – the parent company of Vauxhall, Citroen, Peugeot and Fiat – which employs more than 5,000 people in the UK – told a Commons inquiry [...]
New car market increased 18 per cent last month to mark release of new number plates The UK’s new car market has grown for eight consecutive months, figures show. Some 287,825 new cars were registered last month, up 18.2 per cent on March 2022, the Society of Motor Manufacturers and Traders (SMMT) said. The increase was attributed to an easing of global supply chain shortages. Large fleets, which include vehicles owned [...]
Ease in semiconductor shortage helps car production increase by 8,000 as UK shipments to EU up 6.5 per cent On the road to recovery Car production has increased following an easing of a two-year long shortage of semiconductors, figures show. The number of cars built in UK factories reached 69,707 last month, over 8,000 more than the same month a year ago, said the Society of Motor Manufacturers and Traders (SMMT). The report noted an improvement in supply chain [...]
Ford admits it’s losing billions as heavy investment in electric puts brakes on profit March 23, 2023 Ford’s electric vehicle business has lost three billion US dollars (£2.44 billion) before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released on Thursday as Ford rolled out a new way of reporting financial results. The new [...]
Bentley drivers shrug off cost of living crisis as luxury carmaker reports best ever year of sales March 16, 2023 Bentley saw its profits soar to a record £623.7m in 2022 in what has been described as a “milestone” year for the British luxury car brand. The operating profit announced on Thursday was an 82 per cent increase of £281m on its 2021 figure of £342.5m. The firm also turned over £2.98bn in 2022 – [...]
BMW invests £500m in Oxford Mini plant with car maker expected to receive £75m UK taxpayer grant March 8, 2023 Hundreds of jobs could be created from a £500m investment in Oxford by BMW, as it looks build electric models of its Mini in Britain. The German car-maker is reportedly preparing to unveil a major injection of cash – including £75m of government-approved funding – as first reported by Sky News’ Mark Kleinman. The investment [...]
Motor boss warns against ‘protectionism’ as electric vehicle production accelerates 50 per cent February 24, 2023 Car production in Britain fell slightly in January as thousands continued the shift towards electric vehicles which experienced a near 50 per cent increase. Despite global economic instability, car production fell just 0.3 per cent last month, which was welcomed by the industry as a sign of market stability. The Society of Motor Manufacturers and [...]
Worth the cost? Driving groups issue safety concerns as govt floats year delay of MOT testing to save £100m January 18, 2023 MOT testing could be delayed by a year under current plans, but driving groups say they are “totally” opposed on safety grounds. Motoring groups the AA and RAC have warned ministers that “drivers don’t agree” with plans to delay testing and “believe it’s dangerous”, with more cars unfit for road use. This comes after the [...]
Crypto cash makes more Brits drive luxury cars despite raging cost of living crisis October 24, 2022 Luxury car owners have increased by 9.2 per cent over the past year, according to data published today. Figures from accountancy group UHY Hacker Young show that the number of luxury car owners has gone up from 221,124 in 2020 to 241,391 a year later. According to UHY Hacker Young’s partner David Kendrick, sales were [...]
Hedin Group approaches Pendragon with new £400m takeover bid September 26, 2022 Pendragon has confirmed it has received a new takeover approach from its largest shareholder, Hedin Group.