Current Car Makers Premier Leage leaders Mazda are to raise prices on its Mazda6 and Mazda5 models by 2% in April in reaction to raw material costs and fluctuations in the yen exchange rates. … [Read more...]
Sharp practice – don’t get caught on the sharp end
March 16, 2009 By Leave a Comment
In these troubled economic times people are on a quest to save money and, no doubt on the hunt for bargains. This means businesses are under even greater pressure to keep the customers coming through the doors. Special offers … [Read more...]
Massive recall for GM in the US
March 15, 2009 By Leave a Comment
As if their problems weren't bad enough, Reuters reports that General Motors is recalling 276,729 passenger vehicles to correct a problem in certain cars that could cause them to roll when parked. The National Highway Traffic Safety Administration (NHTSA) said in a recall notice that a suspected flaw in the transmission cable system may not … [Read more...]
Follow MTI on Twitter
March 14, 2009 By Leave a Comment
Motor Trade Insider can now be followed via Twitter. Twitter is a social networking and micro-blogging service that enables its users to send and read other users' updates known as "tweets". Tweets are text-based posts … [Read more...]
Society of Motor Auctions says demand “exceptional”
March 14, 2009 By Leave a Comment
Used car auction prices have been higher in the early months of 2009 compared to the end of 2008, according to Retail Motor Industry’s Society of Motor Auctions (SMA). However, SMA chairman David Scarborough has warned that without an upswing in new car sales the auction boom is likely to come to an end. With used car demand up around 20% … [Read more...]
Customer service – for the good times as well as the bad
March 13, 2009 By Leave a Comment
When there is a downturn in the economy we always hear phrases like 'Value for money', “providing a great service”, “customer satisfaction”, ”great deals” etc regularly repeated. What strikes me however … [Read more...]
BMW profits down 90 percent
March 13, 2009 By Leave a Comment
BMW's net profits fell nearly 90% to 330m euros ($423m; £306m) last year, as the global economic downturn reduced demand for cars. Earnings were hit by 2.4bn euros of exceptional costs linked to bad debts, personnel costs and provisions to cover risks on used car markets. BMW also received a 400m euro loan from the European Investment Bank … [Read more...]
Help for UK motor industry “too slow”
March 12, 2009 By Leave a Comment
Business Secretary Lord Mandelson has said he wished talks with the Treasury and Bank of England on help for car financing schemes had "gone quicker". Discussions were making progress and went hand in hand with efforts to give the car industry a boost, he said. … [Read more...]
Talks begin over Government motor industry support package
March 11, 2009 By Leave a Comment
Motor industry representatives are due in London later for talks over the government's £2.3b support package. Carmakers and suppliers have yet to receive any funds from the Automotive Assistance Programme, which was announced in January. The scheme has now been approved by the European Commission and industry figures are due to find out how … [Read more...]
Toyota cut production and workers pay
March 11, 2009 By Leave a Comment
Carmaker Toyota is expected to announce cuts in production at its UK factories. Nearly 4,500 staff at its plants in Burnaston, near Derby, and Deeside, Flintshire, are expected to accept a 10% pay cut as the working week is cut. The half-day reduction comes just after the factories reopened following a two-week shutdown, with further … [Read more...]
Good news coming out of China
March 10, 2009 By Leave a Comment
It’s not all bad news if we are to take the figures coming out of China at face value. The China Passenger Car Association (CPCA) have stated that Chinese car sales in February grew by a whopping 33% year on year with a total of 607,984 passenger cars sold last month compared to the 456,901 sold in February 2008. The association put the widely … [Read more...]
Audi Predicts 2009 will be toughest ever year for motor industry
March 10, 2009 By Leave a Comment
Volkswagen's Audi brand expects to mark its centennial birthday with its first annual sales drop in 14 years as manufacturers grapple with an ever-deepening crisis in global car markets. In its annual report published today Audi stated that “2009 will probably be the most difficult year in the history of the automotive industry” … [Read more...]
Plans for new UK cutbacks by Toyota
March 9, 2009 By Leave a Comment
Toyota, the world's biggest carmaker, is finalising plans for fresh cutbacks in its UK factories. According to BBC News the options being discussed include further shutdowns at its plants in Derby and Deeside, north Wales, and cuts in the working week. The outcome of the discussions with employee representatives will be announced on … [Read more...]
US February car sales lowest for 27 years
March 9, 2009 By Leave a Comment
US February car sales fell to their lowest yearly rate in 27 years and car manufacturers are slashing production in a desperate attempt to control their inventories. In total car makers will produce 4.1 million vehicles in North America in the first six months of 2009 and whilst it still sounds like a lot it is down a staggering 41 percent from a … [Read more...]
Government ready to discuss helping out Vauxhall
March 8, 2009 By Leave a Comment
The UK government said it would discuss helping General Motors' British unit Vauxhall once it saw the U.S. automaker's European restructuring plans. "When the plan is shared with us, we will be able to sit down with GM to discuss how we can best continue to help Vauxhall," a spokeswoman for Britain's business ministry said. … [Read more...]
EU calls for crisis talks over GM
March 7, 2009 By Leave a Comment
BBC News reports that the European Commission has called for a crisis meeting among EU states hosting General Motors (GM) plants. EU Industry Commissioner Guenter Verheugen said that the way GM was "dealing with the issue of Europe is not acceptable". He may be of the opinion that GM will cut loose it European operations in a desperate attempt … [Read more...]
Opel should “consider insolvency”
March 6, 2009 By Leave a Comment
German carmaker Opel should consider entering insolvency, the country's interior minister has said. Modern insolvency law was "not set up for the destruction but for the preservation of economic assets", said Wolfgang Schaeuble. The comments came as executives from Opel and its parent General Motors (GM) met government officials and promised … [Read more...]
At least the motor industry is doing something
March 6, 2009 By Leave a Comment
If the news about the continuing surge in sales of used cars goes onwards and upwards, then the opposite can be said of new car sales. We have heard that Toyota plans a 10 % reduction in working hours … [Read more...]
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