The UK's number one car dealer group, Pendragon, said the UK car market was set to remain 'challenging' for the remainder of the year. At the company's annual general meeting, chairman Sir Nigel Rudd said sales of new cars had been in line with expectations for the first five months of 2009. … [Read more...]
26 dealers to get the boot in Peugeot shake-up
June 30, 2009 By Leave a Comment
Peugeot plans to cut its 266-strong network, with around 26 dealers being given notice of termination. Rod Philpott, director of network development, said Peugeot was looking to have 250 UK sites and with new dealerships and terminations, it would balance out to around that number. … [Read more...]
Scrappage party could soon be over
June 30, 2009 By Leave a Comment
The overwhelming popularity of the scrappage scheme may see the incentive finish sooner rather than later (February 28th 2010 is the official finish date) as the £300 million government funded pot starts to dry up … [Read more...]
Porsche turn down VW “rescue” deal
June 29, 2009 By Leave a Comment
German Press agency DPA reports that Porsche has turned down an offer from Volkswagen to help the cash-strapped sports car maker with its financial problems. “It is not a practicable way for us to sell 49.9 per cent of Porsche AG to VW,” a spokesman for Porsche told the agency. … [Read more...]
Japan’s car production in May down 41.4 percent on last year
June 29, 2009 By Leave a Comment
Japan's car production fell for the eighth straight month in May, plummeting 41.4 percent from a year earlier, as the nation's top industry continued to be hammered by the global slowdown. Japan produced 542,282 vehicles in May, the Japan Automobile Manufacturers Association said Monday in a monthly report. … [Read more...]
House prices fall, used car prices rise – what’s going on?
June 29, 2009 By Leave a Comment
It is well documented that at the tail end of 2008 the market panicked to such an extent that used car values were mostly obliterated. Customers and car dealers, instead of sitting tight, reacted like lemmings … [Read more...]
BMW workers sent home as French supplier dispute hits production
June 26, 2009 By Leave a Comment
Staff at BMW's Mini plant in Oxford have been sent home until Monday after production was halted for a second day by a strike involving French suppliers. BMW said a French firm which provides bearings for the cars' steering units is being hit by an industrial dispute. … [Read more...]
Further job cuts expected at JLR
June 26, 2009 By Leave a Comment
More job cuts may be made at Jaguar Land Rover, after the carmaker reported a £280m 10-month loss, owner Tata Motors has warned. Tata also said that further shutdowns were likely at Jaguar Land Rover's factories in Castle Bromwich, Coventry and Solihull. … [Read more...]
Chinese government to block Hummer purchase
June 26, 2009 By Leave a Comment
A Chinese firm's bid to buy the gas-guzzling Hummer car brand will be blocked on environmental grounds, according to Chinese state radio. Sichuan Tengzhong Heavy Industrial Machinery emerged as the surprise buyer for the brand earlier this year. But China National Radio said Hummer is at odds with the country's planning agency's attempts to … [Read more...]
Improved offers sought for GM Europe
June 25, 2009 By Leave a Comment
General Motors has invited several investors to hand in improved offers for its European operations, which include Vauxhall based in the UK. The aim is to tighten the screws on Magna International, which earlier this month became the front-runner in the race for GM Europe when it secured preferred bidder status. … [Read more...]
Shake-up at Toyota
June 25, 2009 By Leave a Comment
Lineup changes are predicted as Toyota reveals it is to review all of its products as the new president Akio Toyoda, the grandson of the company's founder, seeks to revive the world's biggest carmaker. The new president also predicted the next two years would remain tough as the recession has greatly reduced demand for new cars. Toyota in May … [Read more...]
UK Government announces electric car trial
June 24, 2009 By 1 Comment
The UK government has announced a £25 million project to run trials of electric vehicles that will help the country reduce carbon emissions from car transport. The government funding, won by eight consortia which are predominantly made up of car manufacturers, energy providers and universities, was announced by Science Minister Paul Drayson and … [Read more...]
Nissan banking on electric
June 24, 2009 By Leave a Comment
BBC Business News reports that Japanese carmaker Nissan plans to make 100,000 electric cars a year by 2012, and is aiming to become the first car firm to mass produce the vehicles. Nissan chief executive Carlos Ghosn said the company would unveil its first electric car in August of this year, with sales to begin in 2010. … [Read more...]
“counter-intuitive” Ford are at it again with more price rises
June 24, 2009 By Leave a Comment
Ford are to raise UK prices by an average of 4%, blaming, once again, the weakness of the pound against the euro for its decision. The list price of Ka, Fiesta, Focus and Mondeo models will rise by £600 to £650 while an S-Max will cost £700 more and a Galaxy will go up by £800 and the price rises will apply to orders received after 30 June. … [Read more...]
Cost-cutting and after-sales, the road back to profit
June 24, 2009 By Leave a Comment
With many car businesses having been totally re-structured this year, the word coming from many showrooms is that traditional demarcation lines have been scrapped in favour of 'an all hands to the pump' attitude. … [Read more...]
Toyota keeps it in the family
June 23, 2009 By Leave a Comment
Toyota has appointed the grandson of the company's founder as its new president, as the Japanese carmaker aims to turnaround its fortunes. Akio Toyoda, 53, faces a tough job, as like most global car firms, Toyota has seen its sales slump in the face of the continuing global recession. … [Read more...]
Dealer finance still most popular but figures drop
June 22, 2009 By Leave a Comment
The Finance and Leasing Association’s latest statistics show that the recent slowdown in new motor finance business has continued. Consumers purchased 32% fewer new cars with dealer finance through car showrooms in April 2009 compared with April 2008. In the first four months of 2009, the volume of sales was down by 28% compared to the same … [Read more...]
Hyundai and Ford leading the scrappage pack
June 21, 2009 By Leave a Comment
According to figures obtained by Reuters Hyundai and Ford are top of the list when it comes to new car orders obtained through the UK scrappage incentive. The government earlier in the week said the scrappage … [Read more...]
Mandelson receives reassurance over future of Vauxhall
June 20, 2009 By Leave a Comment
Business Secretary Lord Mandelson says the US government has given a "positive response" to his case for continued General Motors production in the UK. Lord Mandelson was in Washington for talks with US President Barack Obama's car industry bail-out team. Speaking to the BBC, Lord Mandelson said he was "reassured... that there is no deal that … [Read more...]
Porsche global sales down 28 percent
June 19, 2009 By Leave a Comment
Porsche has seen its nine-month unit sales slump by more than a quarter after demand for its cars was hit by the worldwide recession. Global sales at the German carmaker declined 28% to 53,635 vehicles between August 2008 and the end of April, compared with a year earlier. … [Read more...]
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