Skoda have a certainly coma a long way since the dark old days when they were the butt of a lot of jokes. The brands steady resurgence since its 1991 acquisition by Volkswagen has been impressive and while … [Read more...]
Germany will not extend scrappage scheme
August 28, 2009 By Leave a Comment
The German government has ruled out extending their successful scrappage incentive that has boosted new-car sales and said it was not planning an alternative scheme. Under the German scrappage scheme owners, who trade-in cars that are older than 9 years for new more fuel-efficient models, receive a 2,500 euros bonus. … [Read more...]
Toyota pulls out of US production plant
August 28, 2009 By Leave a Comment
Toyota is pulling out of a production plant in the US it jointly owns with General Motors (GM), the first time it has abandoned a factory. The world's largest carmaker will stop production at the Fremont, California-based New United Motor Manufacturing plant in March 2010. … [Read more...]
US motor industry analysts predict bad scrappage hangover
August 27, 2009 By Leave a Comment
The US 'cash for clunkers' party is now over with the $3bn taxpayer-funded incentive having drawn to a close. The government says it accounted for about 690,000 sales, and, according to American motor trade analysts from Edmunds.com the US car industry is likely to experience a painful hangover. It anticipates a steep decline in sales in the coming … [Read more...]
Experian reveal Q2 used car sales drop
August 27, 2009 By Leave a Comment
Used car sales fell by 6.6 per cent during April to June this year, according to the latest statistics from Experian. Compared to the same period last year, this was the greatest decline in used car sales volumes seen by the industry this decade. In comparison to January to March this year, used car sales fell by 1.1 per cent - representing the … [Read more...]
Nissan and Chrysler abandon tie-up plan
August 27, 2009 By Leave a Comment
Carmakers Nissan and Chrysler have abandoned a plan to supply vehicles to each other because of the turmoil in the industry caused by the downturn. The two firms agreed the swap deal last year, which would have seen Nissan supplying Chrysler with compact cars for global markets from next year. In turn, Chrysler would have supplied Nissan with a … [Read more...]
‘One in five’ young drivers uninsured
August 26, 2009 By Leave a Comment
A fifth of young drivers are on the roads without car insurance, a new report from the Motor Insurance Bureau has revealed today. The report finds that around 243,000 young drivers are uninsured. A far greater proportion of young drivers are uninsured compared to the average driver, which is one in 20. Given that young drivers are more … [Read more...]
Dealers association requests government scrappage meeting
August 26, 2009 By Leave a Comment
The National Franchised Dealers Association (NFDA) has requested a meeting with Government to discuss an extension of the Motor Vehicle Scrappage Incentive Scheme. 'To say the scheme has been successful since its introduction would be a mass understatement' says Paul Williams, NFDA Chairman, 'but with the retail economic climate still fragile … [Read more...]
Toyota to suspend production line
August 26, 2009 By Leave a Comment
Toyota is planning to suspend production for more than a year at one of its production lines in Japan. It will be the first time it has made a long-term suspension at one of its domestic plants and the closure at the plant in Aichi prefecture will reduce output by 220,000 vehicles. … [Read more...]
SMA urges dealers to set realistic auction prices
August 26, 2009 By Leave a Comment
Vehicle dealers and fleet operators selling stock at auction in the next few weeks should make sure that they set realistic reserve prices that take into account the fact that market conditions may soften, according to the RMI's Society of Motor Auctions (SMA). The SMA, which represents the majority of the UK's motor auctions sector, believes … [Read more...]
New uncertainty over Opel deal
August 25, 2009 By Leave a Comment
US carmaker General Motors could be set to reverse its decision to sell its struggling European car firm Opel, according to media reports. Last week, the German government said it would lend Opel 4.5bn euros ($6.4bn; £3.9bn) if its favoured suitor, Magna, was chosen to take it over. … [Read more...]
Opel decision delayed
August 24, 2009 By Leave a Comment
The board of US carmaker General Motors has postponed making a decision on who should buy its Opel division, which includes Vauxhall in the UK. An assessment on whether to start exclusive talks to buy German-based Opel had been expected at the weekend but the Detroit-based firm said "no decision was taken" when directors met on Friday to … [Read more...]
Toyota recalls 690,000 Chinese made cars
August 24, 2009 By Leave a Comment
Toyota, the world's biggest carmaker, is recalling almost 690,000 cars made in China because of faulty electrical window switches. The recall affects the company's Camry, Corolla, Vios and Yaris models made at two joint ventures in China - Guangzhou Auto and Tianjin FAW. … [Read more...]
Car makers use blue to get their green message accross
August 23, 2009 By Leave a Comment
In the future all cars will have to be kind to the environment and meet increasingly stringent emission targets. Thankfully car technology is so much at the forefront of change and innovation it puts many other … [Read more...]
Still no decision on GM Europe bidder
August 22, 2009 By Leave a Comment
GM revealed on Friday that its board has still not picked a winning bidder for Opel after convening to discuss the options. Chief Executive Fritz Henderson and fellow executives are reportedly backing the consortium led by Magna, the Canadian car parts manufacturer, however, according to the Wall Street Journal, GM's board said a competing offer … [Read more...]
US scrappage scheme hits the buffers
August 21, 2009 By Leave a Comment
The US government says that a $3bn (£1.8bn) car scrappage scheme will end next week after funds ran out. The Car Allowance Rebate System (Cars), dubbed the "cash for clunkers" plan, has been seen as an industry life-line. … [Read more...]
Arnold Clark in jobs boost
August 21, 2009 By Leave a Comment
Scottish-based car retailer Arnold Clark is to create 700 new jobs across the UK by early next year. The firm said it would create 500 new sales jobs, as well as recruiting 120 modern apprentice places and 80 people for supporting roles. The boost was partly down to the "stabilisation" of the car market because of the government's scrappage scheme, … [Read more...]
18 percent drop in car manufacturing but smallest so far this year
August 21, 2009 By Leave a Comment
The number of new cars made in the UK fell 17.9% in July from the same month a year earlier, the Society of Motor Manufacturers and Traders (SMMT) said. But the drop, to 107,635 cars, was the smallest of the year so far. The SMMT said that reflected the impact of scrappage schemes throughout Europe. … [Read more...]
Porsche offices raided by German prosecutors
August 20, 2009 By Leave a Comment
The offices of German luxury carmaker Porsche have been raided by federal prosecutors probing the alleged market manipulation of Volkswagen shares. The investigation centres on former chief executive Wendelin Wiedeking and finance chief Holger Haerter, both of whom resigned last month. The carmaker had built up a stake of 51% in VW in an … [Read more...]
German government pledges loan to successful Opel bidder
August 20, 2009 By Leave a Comment
Germany has said it would be prepared to give a 4.5bn euros ($6.4bn: £3.9bn) loan to carmaker Opel if its favoured suitor is chosen to take over the firm. Berlin is offering the money if Opel's US owner, General Motors (GM), sells the German-based business to Canadian car assembly and parts group Magna. … [Read more...]
We are always looking for experienced writers who can write good original quality posts on motor-trade-insider.com. Please 