McLaren Automotive is celebrating the beginning of full production of the new 720S supercar, with the completion of the ‘Job#1’ car. The move to full production marks the beginning of a new chapter in the McLaren Automotive story, as the second generation of the Super Series – codenamed ‘P14’ – replaces the first generation, ‘P11’ model family … [Read more...]
Newslines 10 April
A Swedish court acquitted former top managers at Saab of tax evasion and fraud charges relating to their failed attempts to save the Swedish automotive brand, which went bust in 2011. Former Saab CEOs, Victor Muller and Jan Ake Jonsson, were accused along with five other people of forging documents to secure funding from Russian tycoon Vladimir Antonov … [Read more...]
Per Aston ad astra
The largest ever gathering of Aston Martin models and their owners in Wales converged on St Athan yesterday to mark the official “move in” by the car maker. Historic and European models were assembled in the enormous ex-RAF hanger, which is being converted to an assembly hall for the new sports cars, as part of their Spring Concourse. There was a … [Read more...]
Welsh firms can apply for £60M Aston Martin contracts
Aston Martin contracts worth over £60million are up for grabs to businesses across Wales. It comes as a result of Welsh Government’s decision to open up its Sell2Wales procurement channel to the luxury car maker, said First Minister Carwyn Jones. It is the first time that private sector contracts have been advertised on Sell2Wales and will … [Read more...]
Brakes going on Wales car sales
March car sales in Wales were 19,885, just 2.1% up on 12-months earlier and the lowest increase in Britain, said the SMMT. With a new plate being introduced, March is traditionally the highest month for registrations and across the UK and they were 8.4% up nationally to 562,337, the highest on record. The jump was largely due to the rise in VED rates … [Read more...]
Newslines 7 April
The Western European passenger car market is said to have grown by 10.3% y/y during March, according to IHS Markit forecasts. The different timing of Easter between 2016 and 2017 has been a big driver to the growth during March, but other factors in key markets have also come into play and IHS Markit is forecasting a slowdown and a consolidation of … [Read more...]
Special feature: UK Automotive opportunities & challenges
Britain’s exit from the EU raises questions on the competitiveness of UK auto manufacturing in the long run given the intertwined nature of both the outbound and inbound logistics supporting the UK automotive industry. With the UK triggering Article 50, IHS Markit Supplier Solutions team has completed an assessment of the impact on OEM sourcing … [Read more...]
Majority business motorists thinking of EVs
Venson Automotive Solutions says 85% of motorists would now consider buying an electric vehicle or choosing one as their company car. However, concern over a lack of charging points is a significant ownership hurdle for those surveyed (69%). People living in the South East of England (88%) were more concerned about the availability of charging points … [Read more...]
Fiat emissions probe intensifies as VW payout
German investigators say they have found a new "defeat device" in a Fiat car during emissions tests. The ministry declined to give details but said it would send the results to the European Commission, which has reviewed a previous emissions case involving Fiat. Fiat has always denied its cars were equipped with an illegal emissions test cheating … [Read more...]
Aston Martin refinancing to fund exciting new models
Aston Martin is refinancing its investments as a new model programme rolls out with the new plant in South Wales coming on stream over the next two years. The luxury car-maker needs to refinance almost $600 M in debt coming due next year and it's seeking to replace it with £ 530 M in new dollar and sterling-denominated bonds. Research firm CreditSights … [Read more...]
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