There will be severe repercussions for the European motor industry if there is no free trade agreement Britain before the end of the year and motorists will have to pay more for models. That's the stark warning this week from the car makers' body, ACEA, which includes the Society of Motor Manufacturers in Britain, who warned a disorderly future could cost over £101 Billion by 2025. In a … [Read more...]
A plan for saving automotive jobs in Wales
Welsh Government and councils must prioritise supporting Tata Steel Port Talbot and Toyota Deeside, according to a far reaching report prepared for the Welsh Automotive Forum. The report by Ian Henry, head of Autoanalysis, follows similar studies he has carried out for WAF in recent years but his final conclusions have been published against a background of a global economic … [Read more...]
Ford secure loan guarantees for Dagenham engine plant
As Ford prepare to close their Bridgend Engine Plant this year with the loss of about 1,200 jobs, the company has secured a UK Government underwritten £500M loan to support its Dagenham engine plant. The guarantee covers 80 percent of a £625M loan from commercial banks to support the automaker’s substantial exports of engines and transmissions from Britain. The guarantee will help Ford to … [Read more...]
EC wasting € Millions on ‘outdated’ truck stops – warning
The ongoing European Commission initiative to develop new standards for safe and secure truck parking areas in Europe is highly relevant to ensure safe and good resting conditions for European truck drivers but does not meet future low carbon transport needs, say vehicle makers. Welcoming the trucking initiative, ACEA said that in the context of the European Green Deal and given the … [Read more...]
168,000 automotive jobs under threat say SMMT
One in six jobs are at risk of redundancy without help from the government in restarting production of the automotive sectors, said the Society of Motor Manufacturers and Traders. The SMMT wants emergency funding, permanent short-time working, business rate holidays, and VAT cuts to stem the flow of job losses as showroom reopen and production lines are restarting, it said. About 168,000 people … [Read more...]
Coronavirus planning risk to no-deal Brexit, warn ACEA
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 round of negotiations on the future … [Read more...]
Dealers more confident than before Brexit
Research from Close Brothers Motor Finance reveals that nearly all UK car dealers (98%) are confident about the business outlook for their dealership, whilst almost two thirds (63%) are ‘very confident’. Despite a difficult 2019 for the motor industry, the findings paint a picture of business optimism. In the aftermath of Britain’s exit from the EU, a third of dealers (35%) see Brexit as the … [Read more...]
Brexit’s been good for some in automotive sector
The UK transport industry has seen earnings on its investments in the EU rocket by more than 400% since the Brexit vote, the latest Office of National Statistics has revealed. UK transport trade earnings from investments in the EU rose from £177 million in 2015 to £1billion three years later – up 476% compared with before the vote. Firms involved in transportation had £3.6 billion invested in … [Read more...]
Newslines 7 February
Production of the three-year-old Mercedes-Benz X-class pickup is ending in June. Based on the Nissan Navara, it has failed to reach anticipated sales figures but it will remain available to order until 11 February, it has told media. Pump prices are falling at last. RAC fuel spokesman Simon Williams said, “Drivers should be relieved the supermarkets are cutting fuel prices after weeks of … [Read more...]
Dealers confidence stronger now for 2020
Exclusive findings from Close Brothers Motor Finance’s Dealer Satisfaction Survey reveal that most motor dealers (96%) are confident about business prospects in the market going into 2020, with almost six in 10 (58%) ‘very confident’. At a time when the new government and the Brexit extension offer a potential end in sight for the political turbulence, the research found that ‘maintaining … [Read more...]
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