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...]
Retailers driving job opportunities
A recruitment drive is underway in motor dealerships around Britain. The retail side of the automotive industry employs nearly 600,000 people and is one of the biggest and most varied sectors. There are automotive dealerships all over the UK and your local one might have the right opportunity for you to kick-start and develop your professional career. Drive My Career, powered by The National … [Read more...]
Banks must finance more EV deals
Almost six out of 10 dealers (58%) believe that more support is needed from their motor finance providers to retail electric vehicles, shows new research. May’s Startline Used Car Tracker reports that 41% say their lenders are less keen to finance EVs, 10% want higher deposits from buyers and 5% charge higher interest rates. A further 5% say their lenders simply won’t touch EVs at all. Just … [Read more...]
Tradelines 17 May
Chinese emerging car maker BYD grew production by an astonishing 211% last year to overtake Tesla and is well placed to begin European assembly, reports StockApps. com. As the car maker prepares to build over 2M EVs this year, StockApps financial analyst Edith Reads said, “BYD’s success is attributed to several factors, including China’s increasing focus on electric vehicles, the company’s … [Read more...]
Struggle to decarbonise needs Government push
If the logistics sector is to effectively decarbonise in line with the government’s 2050 net zero deadline more support will be needed to enable operators to do so, according to a new report by business group Logistics UK. The organisation’s Electric Vehicle Report 2023 demonstrates that factors including a lack of fiscal support and an inadequate public charging network are having a significant … [Read more...]
Newslines 16 May
Here are the first views of the next generation MINI family, with Oliver Heilmer, Head of MINI Design. Each new MINI model gains its own strong individual character that is expressed in distinctive design features, while exuding individuality with a clear brand affiliation and sustainable materials are another essential part of the new design language. Another Chinese manufacturer will be … [Read more...]
Newslines 15 May
Supercar club Auto Vivendi has added 12 new models to its collection in a week. Among the newcomers are Ferrari SF90, McLaren Artura (above), Lamborghini Urus Performante and Morgan Super 3, with more Ferraris and a Maserati MC20 Cielo coming soon. Over 27 million British drivers experience road rage at least once a month, mostly on the morning commute, reports iCompario business comparison … [Read more...]
Car makers push fleet & business sales
The UK new car market recorded its ninth successive month of growth in April, with an 11.6% increase to reach 132,990 registrations, according to the latest figures from the Society of Motor Manufacturers and Traders. The performance marks the best April since 2021’s 141,583 units but remains -17.4% down on 2019 volumes. Large fleet registrations grew by a third (33.1%) to 68,537 units as the … [Read more...]
Newslines 21 April
At the Shanghai Auto Show this week, HiPhi of China revealed the third member of its advanced model line-up, alongside its initial plans for global expansion. The new HiPhi Y will join the dual flagship models, X and Z, with plans for the first HiPhi customer cars on European roads within 2023, to be followed by the Middle East soon thereafter. Jaguar Land Rover will increase its investments … [Read more...]
Tradelines 19 April
The all-electric British designed MG Cyberster sports car will come to UK in 2024, but may be sold outside the usual dealer network. MG has previously said it believes having a showroom network has been behind its success in recent years, but the first sports model in over a decade may be see another sales avenue created. A swathe of car dealer suppliers are at loggerheads with one of the … [Read more...]