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...]
Retail News
Newslines 3 August
A bidder on Car & Classic Auction has secured a rare Mk1 Volkswagen Golf GTI for £21,500 - some £1,230 more than they could have bought a brand new 20-plate Golf. The 1983 Golf GTI was listed on Car & Classic Auction for seven days and by day three had already exceeded its estimate of £11,500 to £13,500, although it’s no ordinary Golf GTI, it’s a genuine Pirelli edition Golf GTI that has … [Read more...]
£2 Billion cycle-plan ignores vital deliveries
London’s protected cycleways will be rolled out to other English cities in a £2 Billion programme, but it’s already raised concerns in the logistics sector. In response to the government’s package of announcements made 28 July 2020 on urban road use, Natalie Chapman, Head of Urban Policy at Logistics UK, formerly FTA, said, “The government’s plans present an opportunity to make cycling a more … [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...]
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...]
Welcome to the home-office on wheels
Working from your home on wheels could become a regular part of business life. With social distancing set to be in place for the foreseeable future, a new trend is emerging amongst British workers in need of ways to manage remote working and travel for work, according to new research. A survey of 2,000 British adults commissioned by the UK’s largest digital marketplace for new and used … [Read more...]
Sunday drive: BMW M340i xDrive Touring
BMW has a vast array of model ranges, writes David Miles. There are Saloons, Touring estates, Active and Gran Tourer MPVs, Coupes and Gran Coupes to start with. Then we have Convertibles, Sports Cars, SUV X models and an increasing number of current and future ‘I’ all-electric models. Backing up this formidable array of body types of course are multiple trim and spec options, including the … [Read more...]