Volvo will limit the top speed of its models to 112mph (180kph) from 2020. It’s also considering electronically reducing speed around schools and hospitals without the driver intervening. Three consecutive months of price reductions on the UK’s forecourts came to a crashing halt in February as both petrol and diesel went up. Data from RAC Fuel Watch shows the UK average price of a litre … [Read more...]
Government changes are pushing automotive change
With 2018 consigned to the history books it is important to remember that the industry learnt some interesting lessons during the course of the year. With new car registrations down by 6.8%, almost exactly in line with Cazana’s predictions, and used car sales down by 2.1% it is no surprise that for some the full year results were not as expected and the trading conditions flexed in an … [Read more...]
Exchange rate hits UK pcp costs
Car finance costs have increased by as much as 49% since Britain voted to leave the European Union because of exchange rates worsening. The tumbling pound has left UK drivers out of pocket by as much as £98 per month, or £4,606 over the course of the full contract. Sterling has tumbled in value from more than 1.3 euros to the pound in May 2016 to barely 1.1 euros in February 2019. This … [Read more...]
Industry criticises Government for ’emissions tax’ rises
The Vehicle Remarketing Association has added its support to the British Vehicle Rental and Leasing Association’s response to the current Government’s WLTP consultation. Sam Watkins, chair at the VRA, said that her organisation shared the BVRLA’s concern about how the potential, negative impact on the company car sector could have widespread repercussions. She explained, “The Government’s … [Read more...]
Newslines 12 February
The along awaited Audi e-tron electric models will go into showrooms in April. There will be two versions from £71,490 after the ev plug in allowance and it will be a their version of the VW Golf sized I D Neo hatchback. The next generation Vauxhall Corsa range will include a plug-in battery-electric model. It will also have the intelligent LED headlights first seen on Insignia and … [Read more...]
JLR sustains big losses in three months
Massive losses have been recorded by JLR. It has reported a £3.4B quarterly loss after writing down the value of its cars and plants. Last month it announced a 10% cut in its 42,500 employees, mostly in the UK. It is the third consecutive quarterly loss after it was hit by U.S.-China trade tensions, low demand for diesel cars in Europe and Brexit concerns and some of the automaker's newest … [Read more...]
Auto-businesses growing despite scares
More automotive businesses have reported turnover growth than any other sector, according to a new Business Census of business leaders’ expectations for the year ahead. The survey, conducted by global credit company Creditsafe and completed by 755 business leaders, revealed that 92% of surveyed automotive businesses grew in terms of turnover in 2018. Speaking of the results, Creditsafe’s UK … [Read more...]
Dealers doubts over stocking pile up
Findings from the Close Brothers Motor Finance’s Dealer Satisfaction Survey reveal 95% are confident about business prospects in the market for 2019, up from 93% last year. Of these, six in ten (60%) are ‘very confident’ about the business outlook for the year ahead. However, while the broad picture is one of confidence, there were some issues that have become more prominent in the last … [Read more...]
Newslines 25 January
Jaguar Land Rover will take a week-long pause in production in April due to potential disruption from Brexit which would affect all three of its UK car plants and its engine plant. The automaker has previously warned about the impact of Brexit and cut production due to slowing demand in China last autumn. Ford faces a bill of up to $1 billion if Britain leaves the European Union without a … [Read more...]
Sunday drives: Unsettling ride for motor industry
Seated at my keyboard responding to a request to write a review of the year from the 100 or so new or updated cars we have tried and tested this year, it’s difficult to know where to begin, says David Miles. 2018 started on a poor note with the fallout from the Volkswagen Group emissions scandal still continuing and it seems other brands were guilty as well. This has dampened customer … [Read more...]