A no-deal Brexit at the end of 2020 risks undoing efforts to get the auto industry back on track after the coronavirus of recent weeks, says the European car makers’ director general Eric-Mark Huitema. While Europe still grapples with the health, social and economic impacts of the coronavirus, and EU automobile manufacturers battle for survival, the second … [Read more...]
Finance News
Sunday drive: On the road & in the news 3 May
I’m still keeping calm and carrying on sifting through the latest automotive news items and press releases pinging into my Inbox, writes David Miles. Some are less ‘newsy’ than others and some press releases are just recycled items as PR operators seek to keep us informed by promoting their brands so here as some worthwhile snippets of news worth passing … [Read more...]
Speeders fines and lockdown after lockdown
As police forces report a dramatic rise in speeding on the UK’s deserted roads, GoCompare Car Insurance warns that in addition to posing a serious risk to other road users and increasing the pressure on emergency services, drivers caught speeding face much higher insurance premiums or a driving ban. Government advice to stay at home to combat the … [Read more...]
Hydrogen is just the ticket for bus business
Plans for a UK-built 3,000-strong hydrogen national bus fleet have been revealed by JCB heir Jo Bamford in a move he hopes can lead the nations’ economic recovery. Mr Bamford claims his plans are “an ideal option for a Government that needs to boost UK manufacturing at this critical time whilst radically reducing our carbon emissions and air pollution”, and … [Read more...]
Virus shutdown to cost UK automotive over £8B
The British car industry faces losing output worth more than £8 Billion due to the coronavirus outbreak. It suffered a production drop in March of a third and fell to its lowest level since 2009, said the Society of Motor Manufacturers and Traders thursday. Britain’s biggest exporter of goods which employs more than 800,000 people saw factories and … [Read more...]
Huge decrease in global car sales over a month
The outbreak of COVID-19 has already impacted the automotive industry significantly, according to JATO Dynamics, a leading provider of global automotive data and insight. Global vehicle sales totalled 5.55 million units in March 2020, down by 39% from March 2019. This represents the largest year-on-year monthly decrease since 1980, when JATO Dynamics … [Read more...]
More business to go digital
The lockdown is leading to a rapid expansion in the digitisation of fleet services, says the Association of Fleet Professionals. Co-chair Paul Hollick explained that the trend could be seen right across the spectrum of the industry, from service providers to how employers communicated with drivers. He said: “Much of this trend has been prompted by the … [Read more...]
Banks tardiness threatens coronavirus recovery
The Government must make lenders move faster to access the special loan scheme or businesses will fail, says the FTA. On 2 April, Chancellor Rishi Sunak MP announced changes to the government’s Corona Business Interruption Loan Scheme, vowing to take “all action necessary” to make sure government backed loans were benefitting businesses as planned. But … [Read more...]
Payment holiday reassurance for vehicle finance
The millions of drivers with car finance deals will be greatly reassured to know the FCA has their back, said James Fairclough, CEO of AA Cars retail arm. “In effect these guidelines mean that anyone who is worried about keeping up with their repayments because their income has been impacted by the Covid crisis will be entitled to a three-month payment … [Read more...]
Sunday drive: On the road and in the news 26 April
As the COVID-19 lock-down continues for another three weeks at least the motoring world needs to carry on, as does our service to supply interesting news items you may have overlooked. Here are a few I have selected for this week’s news briefing. Still ‘Moving the Metal’ via on-line virtual showrooms Numerous car brands are now operating virtual … [Read more...]
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