Magna International's takeover of Vauxhall/Opel could be threatened amid mounting criticism from across Europe, according to sources close to the negotiations. The agreement with General Motors needs heavy financing from European governments, especially Germany, as well as union support, and legal rubber-stamping. … [Read more...]
SMMT positive reaction to scrappage extension
September 29, 2009 By Leave a Comment
Commenting on the Department for Business Innovation and Skills' announcement of an extension to the vehicle scrappage scheme, SMMT chief executive Paul Everitt said, "Lord Mandelson's announcement of an extension to the car scrappage scheme is an extremely important decision that will inspire consumer and business confidence. It will help to … [Read more...]
UK scrappage scheme to be extended
September 28, 2009 By Leave a Comment
Business Secretary Lord Mandelson has has revealed, in his speech to Labour's conference, that the government is to extend the car scrappage scheme. He said the scheme, which started in May and gives consumers £2,000 off a new car if they trade in one at least 10 years old, was running out of money. He said "we cannot do everything but that … [Read more...]
EEF join calls for scrappage extension
September 28, 2009 By Leave a Comment
Manufacturers' body EEF (Engineering Employers Federation) has called for the UK government to continue its car scrappage scheme. The EEF said in a letter to Chancellor Alistair Darling that the scheme had helped to save manufacturing jobs. The scrappage scheme is currently due to end in February, or when the £300m the government has … [Read more...]
Car output falls 31.5% in August
September 25, 2009 By Leave a Comment
The number of new cars made in the UK fell 31.5% in August from the same month a year earlier, industry figures have shown. There were 56,737 cars made last month, the Society of Motor Manufacturers and Traders (SMMT) said. But the number of cars built for the UK market reached a near five-year high as the car scrappage scheme boosted sales. … [Read more...]
Trade guide claims used car prices have stabilised
September 25, 2009 By 1 Comment
Prices for used cars have stabilised, and there is now the prospect of falls in values during the final quarter of the year, according to the valuation team at Glass's. Tighter margins, the influx of September 'plate-change' trade-ins, and the onset of a quieter sales period have contributed to the halt in trade price rises, following an increase … [Read more...]
JLR to shut one of it’s West Midlands plants by 2014
September 24, 2009 By Leave a Comment
Jaguar Land Rover has said it will close one of its plants in the West Midlands after 2014. The firm is considering the closure of either its Castle Bromwich plant in Birmingham or its factory in Solihull. There will be no job losses in the short term because of an agreement between unions and the company, which is owned by Indian giant … [Read more...]
Lada manufacturer Avtovaz to cut 27,600 jobs
September 24, 2009 By Leave a Comment
Russia's largest carmaker, Avtovaz, is to cut up to 27,600 jobs as it tries to cope with the global slump in demand. The job cuts are more than a quarter of the 102,000-strong workforce at Avtovaz, which makes Lada cars. Reports had suggested that 36,000 job losses were considered, but the company said that it managed to "significantly lower … [Read more...]
UK questions viability of Opel Magna bid
September 24, 2009 By Leave a Comment
UK Business Secretary Lord Mandelson has said he does not believe Magna International's plan for Opel is "commercially the most viable". In a letter to the European Competition Commissioner Neelie Kroes, Lord Mandelson said Magna's plan was more expensive than that of a rival bidder. Canadian car parts maker Magna was chosen by General Motors … [Read more...]
Decline in new car CO2 emissions
September 22, 2009 By Leave a Comment
The widespread take-up of low-emission cars in fleets, and the impact of the scrappage scheme for private motorists, has seen average new car CO2 emissions in the UK plummet over the past 19 months. Figures from the Society of Motor Manufacturers and Traders show that the average CO2 emissions of new cars registered in July was 148.4 g/km - a … [Read more...]
GM plans share offering next year
September 22, 2009 By Leave a Comment
General Motors is planning an initial public offering (IPO) next year and is confident it can repay some of its more than $50 billion of US government bail-out loans early. Chief executive Fritz Henderson says that his job could be at risk is he fails to deliver on promises to turn round GM made to the US government, the 'new' Detroit carmaker's … [Read more...]
1,100 jobs could go at Vauxhall
September 22, 2009 By Leave a Comment
Some 1,100 Vauxhall jobs could be lost as part of Canadian parts maker Magna's restructuring of Opel, a source close to the talks has told BBC News. Any job cuts could be shared between the plants at Luton and Ellesmere Port, the source said. Earlier, a German newspaper said almost 1,400 jobs would be lost in the UK as part of 11,000 job cuts … [Read more...]
Harriet wins final vote and is named “The People’s Reviewer”
September 22, 2009 By Leave a Comment
Harriet Gore has been crowned the first-ever Volkswagen Tiguan People's Reviewer. The 33-year-old children's charity worker from Preston edged out rivals Johnny Hindle and Eric Banton to claim the title … [Read more...]
Average price of car repairs up
September 22, 2009 By Leave a Comment
UK garages have increased the average price they charge to repair vehicles in the past year, despite the economic downturn, a survey has suggested. The average price per hour of a mechanic's time rose from £75.17 to £75.85, said insurer Warranty Direct. There was an almost 5% fall in labour rates charged by franchised dealers, however … [Read more...]
Government “doing all it can” to support car industry
September 21, 2009 By Leave a Comment
Government is doing all it can to support the car industry helping it to adapt and survive so it can emerge stronger and better able to deal with future challenges, Business Minister Ian Lucas said today (21st September). Mr Lucas made the comments as he published the Department for Business Innovation and Skills (BIS) response to the Business & … [Read more...]
Holiday car rentals – the good, the bad and the ugly
September 19, 2009 By Leave a Comment
My first memory of a holiday hire car was at the tender age of five when the family trip our villa in Menorca ended up with all of us piling into a Fiat 126, after a hot flight in an Iberia Tri-Star for four hours. I distinctly … [Read more...]
SMMT urge government to extend scrappage scheme
September 19, 2009 By Leave a Comment
The Society of Motor Manufacturers and Traders has written to business secretary Lord Mandelson urging government to extend the successful scrappage incentive scheme which has helped boost consumer spending and secure UK jobs in the motor industry. … [Read more...]
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