May 24, 2013

Porsche hits the jackpot!

Porsche has announced a massive increase in profits in the six months to the end of January despite a 25% drop in car sales. Their net profits for the period were 5.5bn euros (£5.1bn; $7.3bn), four times higher than a year earlier. It wasn’t a bucking of the motor trade recession that did it but in many ways it profited because of it, as the … [Read more...]

Crazy discounts miss the point

At MTI we are as keen as anyone to ensure that all customers, when in the process of buying a car, experience great service, professional advice crystal clear communication, honest hard working sales and service staff and … [Read more...]

PSA Peugeot Citroen sack their boss too

France's biggest carmaker PSA Peugeot Citroen has sacked its chairman Christian Streiff after a little over two years in the post and will replace him with Philippe Varin who is the current chief executive of the Anglo-Dutch steel group Corus. He will take over on the 1st June. … [Read more...]

Prices on the up but nearly new still good value

Some analysts have stopped wondering why the used car market has spat in the face of recession, and have started to predict when it might end instead! So far this year we have seen massive bargains at the beginning … [Read more...]

GM boss forced out by Obama

The chief executive of struggling US car company General Motors - Rick Wagoner - has agreed to step down. He will leave his post immediately at the request of the White House, a government official confirmed. President Barack Obama is preparing to outline terms for offering more help to GM and fellow car giant, Chrysler. The two firms have … [Read more...]

Motor Trade Apprentice

Welcome to “The Motor Trade Apprentice”. Sir Alan sets a task for our young apprentices; they are given £100,000 to spend on 10 used cars across the whole range of subtypes and the challenge is they have … [Read more...]

Smoking can damage retail sales

An article published on cardealermagazine.co.uk recently reported advice from BCA on the pitfalls of purchasing a car used by a smoker and the problems that can occur when attempting to move the vehicle on. It’s an … [Read more...]

7500 GM workers to leave by April

US carmaker General Motors has said 7,500 union workers have accepted its offer of incentives to leave the firm. All of the hourly members of the United Auto Workers union working for GM have been offered a voucher for a new car and $20,000 in cash to leave. GM, which has received at least $13bn (£9bn) in US government loans, is trying to … [Read more...]

Government “insider” pours cold water on scrappage hopes

The Government has denied reports ministers are warming to the idea of a scrappage scheme to boost new car sales and is instead insisting the industry buy into its £2.3 billion aid package. A national newspaper claimed the Department for Business Enterprise and Regulatory Reform (BERR) is backing a plan to offer motorists up to £2,500 in … [Read more...]

Nissan offer help to dealers – we think

Now’s not the time for corporate nonsense. Nissan have announced in a press release that they are “implementing a programme to support its dealer network through the economic downturn” (full article here). … [Read more...]

The fall of the independents – dispatch from the front-line

The days of the independent retail car showroom are numbered and have been way before the appearance of the brown shoots of this recession. Though it’s not the only reason, the starting point for most people looking … [Read more...]

Nissan global production down 50 percent

Nissan have announced that its global production in January decreased 54% year-on-year to 145,286 units. Specifically, Production in Japan decreased 59% to 47,477 units and production outside of Japan decreased 51.2% to 97,809 units. In addition it was reported that Nissan's global sales decreased 26.6% to 227,769 units from the previous yearly … [Read more...]

Databases, analysis and snapshots but no predictions

Analysis by Experian Automotive shows that Greater London is the country’s MPV hotspot as the area grew by 19.0 per cent during the last three months of 2008. In addition,sales of used 4WD’s in Greater London … [Read more...]

Tata give government ultimatum on Jaguar Land-Rover jobs

The chairman of Jaguar Land Rover owner Tata Motors told Sky News in an interview on Tuesday that the company could cut jobs in the UK if the Government did not guarantee multimillion pounds of loans to the company. "If funds are not available a company will not be able to run so layoffs will take place, redundancies will take place," Ratan Tata … [Read more...]

Recession uniting the UK and US motor trade

It’s interesting to note that, as we cautiously tiptoe our way through this recession, the set of circumstances occurring here in the UK seem to be playing out almost identically in the US. Sales of new cars are at a record low … [Read more...]

Ford confirms talks on Volvo sale

Ford has confirmed it is in talks with "a number of parties" regarding the sale of its Swedish subsidiary Volvo. The US giant said it was pleased with both the number and "quality" of those who had expressed an interest, but did not reveal any names. Ford is seeking to offload loss-making Volvo as it continues efforts to turnaround its own … [Read more...]

If it appreciates buy it, if it depreciates rent it

If it appreciates buy it if it depreciates rent it! That has been the golden rule with financing cars over the last few years, but with house prices falling and car prices rising maybe it’s time for a re-think! Check PCP deals you could get a car you only dreamed about! … [Read more...]

Ford UK boss defends price rises

The boss of Ford UK has defended the company's announcement of across-the-board price rises from 1 April by claiming that the firm is in a "battle of survival." Nigel Sharp, Ford of Britain's Managing Director, said "the decline in the value of the pound has probably had as much impact on our business as the decline of the overall car industry." … [Read more...]

Kia raise prices!

Hot on the heels of the announcement by Ford UK yesterday "car maker of the year" kia has revealed they will raise its UK prices by 3% from April 1, once again blaming "exchange rates". The increase will apply across the Kia range with the exception of the recently launched Soul and Magentis models. Paul Philpott, managing director Kia Motors … [Read more...]

Forget high street lenders, check out dealer finance first

I was asked recently to assist a family member in the purchase of their next car and going with my usual policy of not advising on any particular model unless I am completely against it, we set about … [Read more...]

Japan car makers report plunging sales

Toyota Motor said Tuesday that its global production had plunged by nearly half in February from a year earlier, while Honda and Nissan reported similarly grim figures highlighting the troubles facing Japanese automakers. … [Read more...]

CBI in favour of UK car scrappage scheme

Another supporter of a UK car scrappage scheme has raised their head above the parapets. This time the Confederation of British Industry (CBI) has come out in favour of such a scheme and in its press release entitled “CBI CALLS FOR BUDGET TO BUILD CONFIDENCE AND COMPETITIVENESS” has called on the chancellor to introduce ”.. temporary measures … [Read more...]

Ford raise prices!

Just as MTI are reporting that the gap between new and nearly new prices is still too wide to encourage people to look more closely at brand new cars Ford have announced that it will be raising the prices of its model range from April by an average of 3.75% due to the “continued weakness of the pound against the euro”. … [Read more...]

Motor shows in recession but only London misses out

Next year’s British motor show axed? No surprise there, really. Back in October I put the London event on Deathwatch knowing full well that the Society of Motor Manufacturers and Traders (SMMT) would drop it all … [Read more...]

Honda staff face 5% pay cut

The 3,500 staff at Honda in Swindon are facing a pay cut, and the company is keeping its associate release programme, where staff wishing to leave can receive a cash payment, open until next week. In Japan the company is forecasting a consolidated £320m loss, the first in its history, and workers there have been given a 10 per cent salary … [Read more...]