Specialist motor insurance loss adjuster Claims Management & Adjusting says new Office for National Statistics figures showing an 8% annual increase in vehicle thefts are shockingly unsurprising. According to the ONS’s latest Crime Survey for England and Wales instances of “theft or unauthorised taking of a motor vehicle” increased from 122,423 in the year October 2021 to September 2022, to … [Read more...]
Car makers urge UK Government to boost EV support
The drive is on to transform motor manufacturing in Britain. The UK automotive sector has urged all political parties to adopt five pledges and supercharge its competitiveness as part of a dedicated industrial strategy – with a £106 billion prize up for grabs from now until the end of the next parliament. A commitment to transforming automotive production, giving confidence for all drivers to go … [Read more...]
Chinese stake in Aston Martin Lagonda
Chinese backers have moved to take a share of the quintessentially British Aston Martin Lagonda brand. Geely, who are behind Volvo, Polestar and Lotus, have taken a 17% stake of £234M in the Gaydon and St Athan luxury car makers and may raise it to 22%. The move makes the Chinese giant the third-largest shareholder in Aston Martin, behind the Saudi Arabian Public Investment Fund (18% holding) … [Read more...]
Newslines 27 January: Ford to make big job cuts
A massive jobs cull in Germany and other European countries is expected by the union representing Ford workers. Some positions are expected to be axed in the UK as well while the US car maker transitions towards a fully electric range from 2025, initially slashing over 3,200 jobs in Ford of Europe, and realigning with R&D in America. Bentley Motors announced a recruitment drive creating 200 … [Read more...]
Newslines 28 March
Almost half of electric vehicle (EV) drivers could be missing out on cheaper off-peak electricity costs at home while inflation reaches a new 30 year-high, a survey by Smart Home Charge, the UK’s leading home charging retailer and installer has revealed. The results show that 88 per cent of those polled own an EV, with 46 per cent of all respondents confirming they are using a standard … [Read more...]
Tradelines 27 January
Bucking the UK trend in falling sales, the UK’s fastest-growing car brand shows no signs of slowing down as MG Motor gears up to increase its network to at least 130 dealers by the end of 2021. With a range now encompassing six models and a rapidly growing reputation for offering affordable EVs for everyone, the brand has seen 28 new sites join its network in the past 12 months. Bentley … [Read more...]
Volvo’s new horizons
Volvo Cars has its eyes firmly set on the future as it celebrated the 10-year anniversary of its acquisition by Zhejiang Geely Holding on 28 March. The company has seen a complete transformation of its business under Geely ownership, changing from a purely European firm to a truly global and strong player in the premium car market, racking up record sales, revenues and profits along the way. As … [Read more...]
Tradelines 13 November
Nissan profits have collapsed by 70% in three months. It made $278M to the end of September with retail sales down 7.5% globally, European registrations slid 23% but sales showed a steadying picture in America. JLR is looking for partners to share new technology and other costs, say media reports. BMW and Zhejiang Geely are mentioned but others may be approached to assist market improvements in … [Read more...]
Volvo and Geely to merge combustion engine operations
Volvo Cars and Geely intend to merge their existing combustion engine operations into a stand-alone business in order to establish a new global supplier that will seek to develop next-generation combustion engines and hybrid powertrains. The proposed new business would clear the way for Volvo Cars to focus on the development of its all-electric range of premium cars. Volvo Cars is building an … [Read more...]
Newslines 11 September
Jaguar Land Rover could be hit by £80 Billion of costs if Britain does not secure a good Brexit deal, said CEO Ralf Speth. Extra costs and parts delays threaten to cut profits by £1.2 Billion annually but slowing sales due to diesel and business fuel taxes are also weighing on the business which reported a £210 Million loss in Q2. Jaguar Land Rover Classic has introduced a new infotainment … [Read more...]