The newly announced bankruptcy of Chinese car maker Hi Phi shows that fleets must 'tread carefully' when it comes to buying vehicles from the new wave of manufacturers arriving in the UK, said FleetCheck. Peter Golding, managing director at the fleet software specialist, pointed out that the top-end car maker was due to begin sales in Europe this year and … [Read more...]
Financial boost to go green with specialist vehicles
Endurance Vehicle Solutions, a leading provider in specialist vehicle hire and fleet management, will significantly expand its operations with a new £5 million asset finance credit line. This funding, secured through a continued partnership with Shawbrook, marks a major milestone in Endurance's growth journey across South Wales and the West Country. Since … [Read more...]
Retail buyers need help to go electric, say dealers
Grants or loans to support the used electric vehicle market is the number one action dealers would like to see from the new Labour government to encourage private buyers to make the transition from petrol and diesel models. August’s Startline Used Car Tracker shows 56% of traders would back the move - followed by 50% who want cheaper electricity for EV … [Read more...]
Britain & EU losing components business
The European Union’s automotive trade balance is at a critical juncture, with the potential to become a net importer of automotive components for the first time ever in 2024. Despite significant investments in research and development (R&D), the EU’s manufacturing of innovative automotive technologies is increasingly moving abroad. In 2023, … [Read more...]
New expanding brands now supplying service data
Data company epyx is reporting a large influx of new motor manufacturers to its core service, maintenance and repair platform. Their 1link Service Network is used by fleets totalling more than four million cars, vans and trucks to manage their SMR processes, working with thousands of franchise dealers, independent garages and fast fits. Greg Tucker, head … [Read more...]
On-line car sales have limited appeal, trade believes
Limited potential for online-only motor sales was the top reason for the recent collapse of Cazoo, say dealers. Research from July’s Startline Used Car Tracker shows half of dealers surveyed said this was a problem, followed by 37% who said investors overestimated efficiencies that could be accessed through technology, and 35% that they failed to recognise … [Read more...]
Labour Welsh Government spent £14M on failed car bid
An attempt to bring TVR sports cars to Wales ended in failure and a bill of £14M, according to official documents released today. Legendary two-seater high performance TVRs were to be built at Rassau Industrial Estate after the manufacturer was bought by a business from the previous owners who saw it collapse in its native Blackpool plant. Originally, the … [Read more...]
Prioritise EVs and motor industry investment, says trade
A focus on electrification and investment in the UK motor industry should be among the priorities of the new Labour government, says the Vehicle Remarketing Association. Philip Nothard, chair at the trade body, said that while it was clear that the administration wouldn’t have large sums of money to spend, it should be concentrated in areas that produce the … [Read more...]
Newslines 8 July
BYD Auto plans to build a US$1bn electric vehicle assembly plant in Turkey to target the domestic and European markets and circumvent EU proposed tariffs which would have pushed up prices by nearly half. The Chinese car maker has already announced a factory it will build in Hungary as it pushes expansion outside its home country and both investments will … [Read more...]
Wish list to put the wheels under UK economy
Following last week's General Election, the automotive sector has written its wish-list for the new Labour Government and what it sees as priorities to boost sales and the economy on wheels. The RAC is calling for the new Labour Government to urgently tackle the most pressing concerns of the UK’s 40m motorists in its new transport policy. The poor state … [Read more...]
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