Ferrari earnings have skidded because of supply chain and coronavirus pandemic issues. Earnings fell 60% to £111,680,000 in Q2 but the full year sales are expected to dramatically pick up by spring 2021 and be at the lower end of their original forecast or about £30 Billion. Fuel price rises recorded by the RAC this week will wipe out savings from cheaper insurance premiums as a result of the … [Read more...]
Finance
UK needs major rethink for EV charging network
Solving the infrastructure challenge is one of the final pieces of the electric vehicles puzzle, said Dan Hutson, head of motor insurance with comparethemarket.com. Ofgem’s focus on building capacity for 11 million electric cars in the UK will be welcome news to many who want an electric car but are concerned about the volume of charging points. He said, “Improving the electrical infrastructure … [Read more...]
Hyundai charge into the ev lead on cost
ChooseMyCar has taken a look at how much it costs to charge each EV currently on the market, as well as their electric range in miles to calculate which EV’s are the cheapest to drive and charge. Taking the top spot for the cheapest car to drive is the Hyundai IONIQ Electric, which has a range of 155 miles on a fully charged 40.4 kWh battery, which works out at a cost of £5.81 for a full charge … [Read more...]
Newslines 31 July
The cost of insuring a car has decreased by £80 over the past six months, according to new data from comparethemarket.com. It now costs an average of £1,182 to insure a car for those aged between 17-24 and while premiums have historically fluctuated throughout the year, average premiums remain significantly lower than the same time last year and are now at their lowest levels since 2015 for the … [Read more...]
Car dealers are optimistic of recovery
The UK motor industry has been hit hard by Covid-19, but car dealers are optimistic about the future of the sector. New research from the Britain Under the Bonnet report, from Close Brothers Motor Finance, reveals that short term confidence plummeted during April, but medium to long term optimism has begun to improve. At the beginning of 2020, 98% of car dealers were confident about business … [Read more...]
Pininfarina creates Welsh factory design
A company which has styled Ferrari cars and some of the world’s most iconic automobiles has been commissioned to build the Britishvolt battery gigaplant at St Athan. Pininfarina has more than 90 years at the forefront of innovative automotive design, and more recently an expansion into the field of architecture. After decades of working with top brands such as Ferrari, Alfa Romeo and Peugeot – … [Read more...]
Tradelines 29 July
Sixty apartments costing up to £1.65M will be built overlooking the Silverstone GP racing track and come complete with a clubhouse and leisure facilities. The leasehold apartments with balconies will be fully managed and can be rented out when not in use by their owner who will benefit from access to all major meetings from May 2022. The UK’s Financial Conduct Authority will ban … [Read more...]
End of the road for Mitsubishi cars in UK
Mitsubishi cars will stop being sold in the UK and Europe. Importers Colt Cars, of Cirencester has written to over 100 UK franchise dealers saying the news was unexpected from Japan and meant no new generation models would be coming through the system but they can sell current models. Colt Cars is working to ensure as many retailers as possible are retained to support customers with parts and … [Read more...]
Now learners return to school of mum & dad
The gradual easing of the coronavirus lockdown has seen more new drivers than ever opting to learn with another family member, suggests analysis of RAC Learner Driver Insurance data. With driving instructors unable to start giving tuition again until 4 July as a result of the pandemic, figures show just how eager new drivers were to get behind the wheel with RAC Insurance recording its … [Read more...]
EV charging needs revising to protect grid
Adaptive pricing is needed to ensure grid stability as demand for Electric Vehicles increases, according to research by the University of Cologne. The pricing scheme, created by Professor Wolf Ketter and his co-authors Konstantina Valogianni, John Collins and Dmitry Zhdanov, is based on mathematic modelling and real-world data, which adapts to customer responses and market conditions was … [Read more...]
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