Motor dealers are reporting increasing difficulty in sourcing good quality used cars, but are still able to rely on motor auctions, according to the RMI's Society of Motor Auctions (SMA). '2009 has seen a booming used car market, but this is at risk of becoming a victim of its own success,' according to Louise Wallis, Head of the SMA. … [Read more...]
US scrappage scheme victim of its own success
July 31, 2009 By Leave a Comment
Car buyers in America have exhausted the $1bn cash allocation for the “cash for clunkers” scrappage programme just one week after the imitative was launched. Car dealers across the country have been overrun as US buyer’s clamber to sign up for the scheme. In total 16,000 car dealers have signed up for the scheme which provides buyers with … [Read more...]
Consumer mag accuses car makers of cashing in on scrappage
July 31, 2009 By Leave a Comment
Figures published by Consumer magazine Which? show several manufacturers have increased their prices during the past 12 months and point out that buying a car under the scrappage scheme could leave car buyers potentially no better off than they would have been in 2008. … [Read more...]
Inchcape results ‘solid’ in a ‘challenging’ market
July 30, 2009 By Leave a Comment
A 'solid' set of financial results for the first six months of 2009 has been delivered by UK-based international automotive retailer Inchcape. Despite what the company called 'extremely challenging trading conditions', chief executive André Lacroix said the company "delivered a resilient financial performance" for the six months ending June 30. … [Read more...]
Renault report massive half year loss
July 30, 2009 By Leave a Comment
Renault has reported a first-half net loss of 2.71 billion euros ($3.8 billion) as the recession caused deliveries to drop and buyers to chose less-profitable models, this compared with a profit of 1.58 billion euros a year earlier. … [Read more...]
Decline in Spanish new car sales slows as scrappage takes effect
July 30, 2009 By Leave a Comment
The rate of decline of new-car sales in Spain eased in July to a fall of 9 percent from a year earlier compared with a 15.8 percent drop in June as their own scrappage incentive took effect. Car sales to July 29 were 91,623 units and could rise to above 100,000 by the end of the month, Spanish car maker group ANFAC said on Thursday. … [Read more...]
VW in very strong position as profits better than expected
July 30, 2009 By Leave a Comment
Volkswagen's cash pile has continued to grow since December and second-quarter operating profit easily beat expectations, Europe's largest carmaker said on Thursday. "Retaining our ability to act financially has the highest priority," Chief Financial Officer Hans Dieter Poetsch said in a statement. … [Read more...]
Trade guides agree as used car prices continue upward trend
July 29, 2009 By Leave a Comment
Despite an unprecedented 25 per cent rise this year in prices of cars up to one year old, industry car valuation guide Glass's is urging would-be car buyers to buy now. As MTI have been reporting for a while now used car stocks have dwindled to an all-time low, prices may go still higher, and the choice of vehicles is likely to become even more … [Read more...]
Big losses reported by Daimler and Nissan
July 29, 2009 By Leave a Comment
Carmakers Daimler and Nissan have reported big losses in the face of continuing declines in global vehicles sales. Daimler, the owner of Mercedes-Benz, made a net loss of 1bn euros in the April to June quarter. eanwhile, Nissan's quarterly loss totalled 16.5bn yen ($170m; £104m). … [Read more...]
Massive loss for Peugeot Citroen in first 6 months of 2009
July 29, 2009 By Leave a Comment
France's biggest carmaker, PSA Peugeot Citroen, has reported a six-month loss after its sales fell by more than a fifth compared with a year earlier. The firm made a net loss of 962m euros ($1.4bn; £830m) between January and June, compared with a profit of 733m euros for the same period in 2008. … [Read more...]
BSM dumps Vauxhall Corsa in favour of Fiat 500
July 28, 2009 By Leave a Comment
BSM, the UK's biggest driving school, is to replace its basic vehicle for learners - the Vauxhall Corsa - after signing a deal with Fiat. The Italian firm will provide BSM with 14,000 cars over four years - mainly its Fiat 500. … [Read more...]
Tata profits up despite drop in sales
July 28, 2009 By Leave a Comment
Tata Motors has announced a 58% rise in net profits as lower steel costs helped outweigh a fall in vehicle sales. Tata made a net profit of 5.14bn rupees ($107m; £65m) in the April to June quarter, compared with 3.26bn rupees in the same period a year ago. … [Read more...]
Used cars top Consumer Direct complaints list
July 27, 2009 By Leave a Comment
Cars, mobile phones and televisions remain high on the list of complaints from consumers in the UK in 2009. Secondhand cars bought from independent traders comfortably topped the list of gripes received by advice line Consumer Direct, with 24,672 complaints made. … [Read more...]
Jaguar Land Rover report massive loss for 2008
July 27, 2009 By Leave a Comment
Jaguar Land Rover reported a loss for 2008 in the U.K. but will receive a guarantee for a bridge loan from the British government, the Financial Times reported on Sunday. The report said the core British operations of Jaguar Land Rover, which India's Tata Motors bought from Ford last year, suffered a net loss of 673.4 million pounds last year … [Read more...]
VW Tiguan – The People’s Reviewer – Week three
July 27, 2009 By Leave a Comment
The third and final group for the Volkswagen Tiguan People's Reviewer took the keys this week and they are already out on the streets. They are Kaela Marshall is an expectant mum from the Manchester area … [Read more...]
Gear stick Mick and the Cortina of doom
July 26, 2009 By Leave a Comment
Road rage is all the rage. As the UK’s roads clog up with summer holiday traffic jams tempers will inevitably flare. Road rage is not a new phenomenon however and has effected most generations since the … [Read more...]
US scrappage scheme unveiled
July 25, 2009 By Leave a Comment
The US government has unveiled details of its car scrappage scheme, aimed at persuading owners of "gas-guzzling" cars to exchange them for greener ones. The $1bn programme, which runs until 1 November, offers vouchers worth up to $4,500 for people scrapping vehicles that do fewer than 18 miles per gallon. … [Read more...]
Drivers “don’t trust” road taxes
July 24, 2009 By Leave a Comment
Motoring taxes have been handled so badly that drivers no longer trust what ministers say the charges pay for, an MPs' report says. Inconsistency over justification for green taxes "tarnished their image", according to the transport committee. … [Read more...]
Decline in car manufacturing slowing
July 24, 2009 By Leave a Comment
The number of new cars made in the UK fell 30.2% in June from the same month a year earlier, the Society of Motor Manufacturers and Traders (SMMT) said. But the drop, to 91,718 cars, was the smallest of the year so far. … [Read more...]
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