With up to 75% of the value of vehicle components made in Europe, the continent’s automotive supply industry generates substantial economic value and supports hundreds of thousands of jobs, but it's under serious threat. Yet Europe’s automotive suppliers are issuing a stark warning based on a recent study of European value creation: without urgent and … [Read more...]
Car makers call for help over smaller models
Europe's car makers want new rules created to favour small cars being manufactured as the industry struggles to sell more expensive bigger models. Renault CEO Luca de Meo and Stellantis chairman John Elkann have urged the European Union to implement more favourable rules for small cars as the declining profitability of these cars could lead to plant … [Read more...]
Brands’ boycott looming after tariffs take hold
A majority of Brits say they will boycott brands from a country imposing tariffs on UK models. Almost six out of 10 people (59%) say they are less likely to buy a car from a country imposing tariffs on UK-made models. While the UK imports comparatively low numbers of US made models, there could be reaction to brands with US links, such as Tesla (shown … [Read more...]
Newslines 4 February
New import tariffs imposed by the US Trump administration are due today. They include 25% tariffs on goods from Mexico and Canada that would include automotive components and vehicles while goods imported from China would attract a 10% tariff and experts say it could cut US car sales by a million units over 12 months. Motorists are being urged to "love … [Read more...]
Newslines 29 November
Rail passengers across the South Wales Metro can now access a new Pay As You Go system. Transport for Wales is the first train operator outside of London and the South East of England to introduce tap and catch paying system at 95 stations including all Valleys lines and on routes to Bridgend, Maesteg, the Vale of Glamorgan, Abergavenny and … [Read more...]
Outlook for EV sales is worsening, say car makers
New evidence of worsening outlook for electric vehicle market reinforces need for urgent action, said Continental car makers. New data from S&P Global reveals a worsening outlook for the EU battery-electric vehicle (BEV) market amid shifting economic conditions. Between the first and second halves of 2024 market expectations significantly evolved, … [Read more...]
Tradelines 14 August
The new car finance sector saw new business by value drop by 6% year on year to £1.545m, with the number of cars financed down 12% at 55,097 in June, according to the Finance and Leasing Association. The used car finance sector didn’t fare any better, with new business value down by 13% on June 2023 at £1.67m and the number of cars financed down 10% at … [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...]
EU car makers holding breath over China duties
Car makers are closely watching developments after the EC decided to impose provisional duties on imports of electric cars manufactured in China, based on initial findings of an anti-subsidy investigation initiated last year. ACEA has consistently affirmed that free and fair trade is essential in creating a globally competitive European automotive … [Read more...]
UK car making slips
UK car manufacturing output fell by -7.0% in April, down to 61,820 units, according to the Society of Motor Manufacturers and Traders. It was the second consecutive monthly decline, reflecting factory adjustments in preparation for next generation models and their electrified powertrains. Output for the UK – at 14,021 units – rose 19.8% but failed to … [Read more...]
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