Vertu exceeds market expectations in six-month results Vertu exceeds market expectations in six-month results 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 Vehicles are the UK's most valuable export as revenues reach £27bn 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 [...]
Exclusive: ‘Petrol anxiety’ fuels interest in electric cars, says Auto Trader exec Since panic buying of fuel started at the end of last week, there has been a significant increase in interest in electric vehicles. Searches for used EVs increased by over 60 per cent versus the previous weekend, according to Auto Trader, by far the UK’s largest automotive marketplace. “The events of the past few days [...]
Glencore invests in Britishvolt’s electric battery gigafactory plans August 17, 2021 Mining giant Glencore is investing in the battery start-up Britishvolt and its construction of a gigafactory to support the UK’s car industry transition to electrical vehicles. As part of the partnership, Glencore will also supply cobalt, one of the key raw materials used in electric batteries, the Financial Times reported. As the biggest producer of [...]
Motorways and A-roads to benefit from £200m injection amid staycation boom August 9, 2021 The government is set to inject £200m into improving motorways and major A-roads in the southwest of England, so Brits can have smoother rides to see long-missed families. Now domestic travel restrictions have eased, Brits are well on their way to seeing the family and friends they had missed over the previous 15 months of [...]
UK shoppers sticking with online shops despite restrictions relaxing June 29, 2021 Online e-commerce sales continued to grow in April, despite the reopening of non-essential retail across the UK. Demand for e-commerce packaging, a barometer for industry and sector performance, grew 11.7 per cent in April, despite brick-and-mortar shops reopening in the same month. This followed a 35.6 per cent increase in demand in the year up [...]
European car sales soar 250 per cent after lockdown May 19, 2021 European car sales soared back from lockdown lows last month, new figures from continental auto body ACEA showed today. Sales across the EU, EFTA, and UK rose 256 per cent altogether, rising from just over 292,000 cars last April to nearly 1.1m a year on. The massive rise is down to the fact that a year [...]
Europe car sales pick up speed in March to erase early-year declines April 16, 2021 Europe’s monthly car sales leaped 63 per cent in March as markets overcame Covid restrictions to recover from a pandemic crash, according to new data. Registrations in the EU, EFTA and UK markets rose to 1.39 million year-on-year, data from industry association ACEA showed on Friday. The resurgence erased an early-year decline to shoot sales [...]
New car sales sunk in November, but more UK drivers buying electric and hybrid vehicles December 4, 2020 New car sales sunk in November, but more UK drivers choosing electric and hybrid vehicles
UK car sales sink 35 per cent in June despite post-lockdown restart July 6, 2020 UK new car sales plunged a third in June despite the easing of lockdown measures, new data showed today, after worse falls in April and May. New car registrations sank 34.9 per cent in June year on year, according to the Society of Motor Manufacturers and Traders (SMMT). But that marked what the body called [...]