Massive losses have been recorded by JLR. It has reported a £3.4B quarterly loss after writing down the value of its cars and plants. Last month it announced a 10% cut in its 42,500 employees, mostly in the UK. It is the third consecutive quarterly loss after it was hit by U.S.-China trade tensions, low demand for diesel cars in Europe and Brexit concerns and some of the automaker's newest … [Read more...]
Auto-businesses growing despite scares
More automotive businesses have reported turnover growth than any other sector, according to a new Business Census of business leaders’ expectations for the year ahead. The survey, conducted by global credit company Creditsafe and completed by 755 business leaders, revealed that 92% of surveyed automotive businesses grew in terms of turnover in 2018. Speaking of the results, Creditsafe’s UK … [Read more...]
Dealers doubts over stocking pile up
Findings from the Close Brothers Motor Finance’s Dealer Satisfaction Survey reveal 95% are confident about business prospects in the market for 2019, up from 93% last year. Of these, six in ten (60%) are ‘very confident’ about the business outlook for the year ahead. However, while the broad picture is one of confidence, there were some issues that have become more prominent in the last … [Read more...]
Newslines 25 January
Jaguar Land Rover will take a week-long pause in production in April due to potential disruption from Brexit which would affect all three of its UK car plants and its engine plant. The automaker has previously warned about the impact of Brexit and cut production due to slowing demand in China last autumn. Ford faces a bill of up to $1 billion if Britain leaves the European Union without a … [Read more...]
Sunday drives: Unsettling ride for motor industry
Seated at my keyboard responding to a request to write a review of the year from the 100 or so new or updated cars we have tried and tested this year, it’s difficult to know where to begin, says David Miles. 2018 started on a poor note with the fallout from the Volkswagen Group emissions scandal still continuing and it seems other brands were guilty as well. This has dampened customer … [Read more...]
Medium-term rental drive by Meridian
A new business drive into the corporate fleet market is being planned in 2019 by medium-term rental specialist Meridian Vehicle Solutions. So far, the company has worked almost entirely through leasing and fleet management companies as intermediaries, white labelling their product for more well-known brands. Phil Jerome, managing director, explained, “While we expect that working these … [Read more...]
Skills and stability needed to build on ‘can-do’ Britain
Urgent action is needed to address skills shortages and restore necessary political conditions to maintain competitiveness and attract future investment in Britain's automotive industry, says the Automotive Council. Britain’s automotive talent is among the world’s most adaptable, with the industry’s long history of engineering excellence and strong labour relations the envy of competing … [Read more...]
Used car sales steady after new cars collapse
Britain’s used car market remained near recent record highs in the third quarter of 2018, according to the Society of Motor Manufacturers and Traders. Despite a sales dip of -2.1% compared with the same period in 2017, there were 2,057,457 used transactions in Q3, with August the quarter’s best-selling month and the Ford Fiesta was most popular with 93,260 sold. Buyers continued flocking to … [Read more...]
Newslines 16 November
Cardiff Council is expected to get tough on illegally parked or untaxed vehicles abandoned on the streets, and it could be removing 20 a week. It already has powers to clamp and remove illegally parked vehicles but does not always use them and the additional powers would see them taking over duties from the DVLA with abandoned cars early in 2019. Wales First Minister intends to decide on the … [Read more...]
Tradelines 31 October
An additional £7.5m to help Welsh businesses including the automotive sector build resilience in order to cope with the challenges of Brexit was announced by Economy Secretary, Ken Skates. The £7.5m, which is part of the Welsh Government’s £50m EU Transition Fund, will be used over the next three years to help companies develop the new expertise and processes they will need in order to thrive, … [Read more...]
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