Workers at Opel's factory in Spain have announced four days of strikes starting next week after failing to reach an agreement with Magna on job cuts. Staff at the plant at Figueruelas near Zaragoza will walk out on 28 and 30 October, as well as 3 and 5 November. Magna, the proposed new owners of Opel, declined to comment. It wants to cut … [Read more...]
VW to buy half of Porsche by 2010
October 20, 2009 By Leave a Comment
Europe's largest carmaker, Volkswagen, has said it is to buy 49.9% of sports car maker Porsche by the end of 2009 for about 3.9bn euros (£3.54bn;$5.8bn). In August VW and Porsche agreed the details by which VW will merge with its German compatriot by 2011. VW had initially been set to buy a 42% stake in Porsche by the end of this year for … [Read more...]
RMI works to support independent garage sector
October 20, 2009 By Leave a Comment
'The scrappage scheme has had an extremely positive impact on the motor industry as a whole; the priority for The Retail Motor Industry Federation (RMI) must now be to work with the independent garages to ensure they are properly equipped to benefit from the longer term results of the scheme,' said Jonas Zambakides, IGA Chairman. 'The RMI is … [Read more...]
China car output ‘breaks record’
October 20, 2009 By Leave a Comment
Chinese annual car production has topped 10 million for the first time as carmakers boost output to meet growing demand, state media has said. The 10 millionth car produced this year rolled off the First Automobile Works Group assembly line in Changchun, the official Xinhua News Agency reported. Despite the downturn and falling sales at most … [Read more...]
The future for car dealer marketing?
October 20, 2009 By 2 Comments
One recurring theme, constantly reverberating throughout the trade at present, is the growth of the internet. We know that 80% of car buyers use a search engine to investigate a potential purchase. We also know that customers are 10 times more likely to look at a car advertised with at least one image and we know that an even larger percentage of … [Read more...]
Oil price hits new high for 2009
October 19, 2009 By Leave a Comment
The price of oil has reached a new high for 2009, continuing its recent rise on the back of the weak US dollar and strong US company results. US crude rose 52 cents to $79.05 a barrel in early trading, before slipping back to $78.78, up 25 cents on Friday's close. London Brent also traded higher, up 22 cents at $77.11 a barrel. Oil prices … [Read more...]
BMW X1 review
October 18, 2009 By 4 Comments
The mid-size SUV market is growing steadily and the "soft-roaders" are becoming more popular so we asked "Serman" to carry out a BMW X1 review. Will BMW's new model be different enough to its larger stablemates the X3 and the X5 to warrant its existence? Serman had one for a week and here's his report. BMW X1 review - What is it This is … [Read more...]
Germany defends Opel deal
October 18, 2009 By Leave a Comment
Germany says EU concerns about the sale of carmaker Opel to Canada's Magna do not put the deal at risk. Economy Minister Karl-Theodor zu Guttenberg said the deal was "on track" and ministers could address EU doubts. The European Commission warned on Friday that planned state aid for Opel might breach competition rules. Brussels said there … [Read more...]
Vauxhall workers back union deal
October 16, 2009 By Leave a Comment
Workers at the Vauxhall car plant in Ellesmere Port have voted to accept a deal agreed between unions and the proposed new owner, Magna. Unite leaders agreed to a two-year pay freeze and other cost-savings in return for having no compulsory redundancies. About 2,100 workers attended the vote during a mass meeting at the factory … [Read more...]
Motorpoint named one of UK’s top privately-owned firms
October 16, 2009 By Leave a Comment
Motorpoint has been named among the top privately-owned mid-market firms in the UK. The car supermarket giant, which has sites in Burnley, Derby, Glasgow, Newport and Peterborough, was ranked one of the best performing car dealers of 2009 by Fast Track, the organisation behind the listings, in the latest Sunday Times Top Track 250. The Top … [Read more...]
Germany is hopeful the UK will provide financial aid for Opel
October 15, 2009 By Leave a Comment
German Economy Minister Karl-Theodor zu Guttenberg said on Wednesday that the Berlin government was hopeful that Britain was close to giving a commitment on financial aid for Opel. "We're still waiting for the respective commitments," Guttenberg told reporters in Berlin. "However, from what I hear, the situation in Britain on this has got a lot … [Read more...]
Scrappage schemes boost European car sales by 6.3% in September
October 15, 2009 By Leave a Comment
Europe new-car registrations rose 6.3 percent to 1,388,136 in September thanks largely to incentives-driven double-digit increases in four of the five European major markets. Germany had the biggest sales rise, by percent, in the region while the UK outsold Germany in the month. Last month's German registrations were up 21 percent to 316,166, … [Read more...]
Car finance refusals still hampering sales growth
October 15, 2009 By 1 Comment
Although many car dealers are forecasting recession busting numbers in terms of point of sale finance penetration, others are saying that the lack of choice and flexibility from lenders is hampering growth and hitting profitability. Customers who were a fairly safe bet for competitive finance rates last year are now considered a much higher risk … [Read more...]
Motor finance sales show first increase in more than a year
October 14, 2009 By Leave a Comment
Sales of new cars bought by consumers using dealer finance have grown for the first time since July 2008, according to figures published today by the Finance & Leasing Association (FLA). In August, the number of new cars sold with dealer finance to consumers increased by 4% compared with the same month last year. While this is welcome, a … [Read more...]
Business is looking good down at the coalface
October 14, 2009 By Leave a Comment
I found myself in the unusual position of spending a couple of days on the front line recently by helping a colleague who was short staffed in his showroom. Having not actually sold cars for many years I concluded that it couldn’t have changed that much since I was last at the coalface. How wrong I was! I met up with the sales team for the … [Read more...]
‘Deal done’ to save Vauxhall jobs says union
October 13, 2009 By Leave a Comment
The Unite union says it has reached a deal with Magna, the proposed new owners of Vauxhall, to protect jobs at Ellesmere Port and Luton. Magna declined to comment on the union's announcement. The union said it had agreed to a two-year pay freeze and other cost-saving measures in return for no compulsory redundancies. There was concern … [Read more...]
PSA Peugeot Citroen turn to natural materials for car components
October 13, 2009 By Leave a Comment
PSA Peugeot Citroen has started to use components made from natural materials - radiator caps and side mirror mountings that contain hemp instead of glass-fibre; parcel shelves that are moulded in a plastic made from wood chippings; and inner door panels that are 50 per cent flax. The components are the fruits of PSA's Green Materials Plan, set … [Read more...]
The McLaren MP4-12C tears up the supercar rule book
October 13, 2009 By 2 Comments
There's no doubt, McLaren Automotive are about to turn the performance car market on its head. Ground-breaking technology and advanced design has allowed the new MP4-12C to claim the ultimate status some 18 months before it hits the streets. It represents the unprecedented transfer of F1 construction, technology and development from track to road … [Read more...]
CO2 output falls thanks to scrappage scheme
October 13, 2009 By Leave a Comment
Toyota is first manufacturer* to meet EU target figure. Average new car CO2 fell by 5.5% in the first nine months of 2009 The average for the Year to Date is 150.6 g/km; that's a record 8.8 g/km less than a year ago. The current rate of improvement would enable the car industry to meet the EU target of 130 g/km of CO2 by 2012. In fact one … [Read more...]
Tata raises cash to pay off debts
October 12, 2009 By Leave a Comment
Tata Motors has raised $750m (£469m) from investors and says it will use the funds to repay debt from the purchase of Jaguar Land Rover. The company said it had received an enthusiastic response to the sale of shares and bonds that may be converted into shares. But the news caused the company's stock to fall by 6.7%, which was the biggest … [Read more...]
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