MotorTrader.com reports that the trade used car price guide Glass’s believe that the scrappage scheme announced in yesterday's Budget is unlikely to have a "significant" impact on used cars' residual values. Glass’s were countering speculation that the prices being asked for nearly-new cars would appear prohibitively high next to the price … [Read more...]
Trade guide Glass’s believe scrappage scheme wont impact residual values
April 23, 2009 By Leave a Comment
VW closing gap – Toyota global sales down 27 percent
April 23, 2009 By Leave a Comment
Toyota have revealed its group-wide sales fell 27 percent to 1.767 million vehicles in the first quarter of 2009, keeping it ahead of Volkswagen group as the world's top-selling carmaker. … [Read more...]
Peugeot Citroen sales drop by 25%
April 22, 2009 By 2 Comments
BBC News reports that Peugeot Citroen, France's biggest carmaker, has reported a 25% drop in sales in the first three months of the year, from a year earlier. The fall "illustrates the full extent of the crisis being experienced by the automotive industry worldwide," the carmaker said. The company also confirmed that it expects to make a loss … [Read more...]
UK will get scrappage scheme starting in May
April 22, 2009 By 3 Comments
The Chancellor Alistair Darling has announced in his budget speech that the the UK will introduce a "car scrappage scheme". The scheme, which will start in May and run until March 2010, will offer a £2,000 incentive to drivers of vehicles over 10 years old to get them into newer, more efficient, less poluting vehicles. It is hoped that this will … [Read more...]
Banks ‘in bid for Chrysler stake’
April 22, 2009 By Leave a Comment
BBC News reveals that lenders owed billions of dollars by troubled carmaker Chrysler are prepared to swap this debt for a stake in the company. The banks and investors, owed $7bn (£4.8bn), have offered to write off about $2.5bn in exchange for more than a third of the company, reports say. The offer was criticised by a US government official … [Read more...]
Henry Ford’s grandson tells it like it is
April 21, 2009 By Leave a Comment
As Britain braces itself for the budget tomorrow and the car business holds its collective breath for some much needed assistance from this calamitous government, over in the states whilst all about him are losing … [Read more...]
General Motors and Chrysler receive more government cash
April 21, 2009 By Leave a Comment
BBC news reports that General Motors (GM) and Chrysler are to get more loans from the US treasury as the troubled carmakers work on plans to try and make themselves viable. The two Detroit, Michigan-based giants are seeking to stave off bankruptcy and GM will receive a further 60-day, $5bn loan while Chrysler is to get $500m. … [Read more...]
Used prices for larger-engined cars slowest to recover
April 21, 2009 By Leave a Comment
Autowired reports that while the residual values of most used cars have experienced an unprecedented rise over recent months, new analysis from Glass's suggests that some vehicles with higher-capacity petrol engines have made a more modest recovery. … [Read more...]
Opel ‘talks to private investors’
April 20, 2009 By Leave a Comment
BBC News reports General Motors (GM) confirming it is in talks with a number of potential third party investors about them taking a stake in its German carmaker Opel. A spokesman said that Fritz Henderson, the GM president and chief operating officer "has been quoted as saying we are talking to six interested parties". … [Read more...]
RAC report reveals that car ownership is up but mileage falls
April 20, 2009 By Leave a Comment
BBC News reports on a RAC Foundation "The Car in British Society" report which reveals that the rapid growth in the use of cars over the last century appears to have halted, although the UK remains "car-reliant". While the number of cars being bought continues to grow, and is widening to new groups, the number and length of car trips fell in the … [Read more...]
SMMT otlines budget wish-list
April 20, 2009 By Leave a Comment
The SMMT believes the Budget will be a decisive moment for the automotive sector going forward in the UK and has outlined what it wants to see in the Budget: … [Read more...]
Volkswagen first quarter sales may overtake Toyota
April 19, 2009 By Leave a Comment
Automotive news Europe reports that Volkswagen may have overtaken Toyota to become the world's top-selling carmaker in the first quarter of 2009, thanks to government incentives that fuelled demand in VW's major markets. … [Read more...]
Dealers may be tempted to overplay the green card
April 17, 2009 By 5 Comments
With the latest announcements on £5,000 incentives for buying electric cars due to kick in 2011 and the, much anticipated, car scrappage scheme seemingly days away from being given the green … [Read more...]
European car sales still in decline
April 17, 2009 By Leave a Comment
BBC news reports that sales of new cars across Europe fell by 9% in March 2009 compared with a year ago, according to the European Automobile Manufacturers' Association. It is the 11th month in a row that the sector has seen sales fall, but the figures were slightly better than expected, the association said. It said government handouts … [Read more...]
It’s still not over at MG Rover
April 17, 2009 By Leave a Comment
You have to wonder sometimes how we British keep our heads when surely sometimes it would be far more satisfying to completely lose them and blame the people responsible. At a timewhen the car business in the UK … [Read more...]
Skoda wins best manufacturer in Auto Express poll
April 16, 2009 By Leave a Comment
The Daily Telegraph reports that the much-maligned Czech manufacturer has topped a poll of more than 20,000 drivers. It found that the car company had the country's happiest and most satisfied owners. The drivers were asked to rate their own cars on everything from reliability to build quality and running costs. Skoda won the award for best … [Read more...]
Fiat threatens to walk away from Chrylser partnership
April 16, 2009 By Leave a Comment
BBC News reports that Sergio Marchionne, the boss of Italian carmaker Fiat, has threatened to walk away from an alliance with US carmaker Chrysler if unions do not make concessions. "Absolutely we are prepared to walk. There is no doubt in my mind," Marchionne warned. Chrysler needs to find a partner in order to secure more government funds to … [Read more...]
Green car subsidy plan unveiled
April 16, 2009 By Leave a Comment
Motorists will be offered subsidies of up to £5,000 to encourage them to buy electric and hybrid cars under plans announced by the government reports BBC News. It is part of the government's £250m plan to promote low carbon transport over the next five years. But ministers do not expect the cars to hit the showrooms until 2011. Full … [Read more...]
General Motors and Chrysler must make ‘unpopular choices’
April 15, 2009 By Leave a Comment
Detroit News reports quotes US President Barack Obama, saying it is his "fervent hope" that General Motors Corp. and Chrysler LLC will meet government-imposed deadlines to restructure and survive, warning the effort "will involve difficult and sometimes unpopular choices." … [Read more...]
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