As the COVID-19 lock-down continues for another three weeks at least the motoring world needs to carry on, as does our service to supply interesting news items you may have overlooked. Here are a few I have selected for this week’s news briefing. Still ‘Moving the Metal’ via on-line virtual showrooms Numerous car brands are now operating virtual … [Read more...]
Car makers’ mounting concerns over challenges
Forecasting the first downturn in EU car sales in seven years this year, the European Automobile Manufacturers’ Association today outlined the major challenges as it embarks on the transition to carbon-neutral transport. “One of the biggest drivers of change for our sector is the need to address environmental concerns,” stated Michael Manley, ACEA President … [Read more...]
Newslines 21 January
UK car buyers choose grey as the most popular colour with 60.7% of new registrations, said the Society of Motor Manufacturers and Traders. It took the top spot in 2018 and black and white were the next most popular in 2019. Taxis will trial inductive charging in Nottingham. If the scheme is a success with a £3.4M scheme for five plates outside the city’s … [Read more...]
Call for clarity on “auto-renewed” policies
The Financial Conduct Authority has provided a further update on the work it is undertaking to tackle the ‘loyalty penalty’ faced by millions of financial services customers and other issues raised by the Citizens Advice super-complaint to the Competition and Markets Authority in 2018. GoCompare has been involved in the consultation and Lee … [Read more...]
Newslines 16 December
Aston Martin wants to build “longer term relationships” with investors which may or may not involve an equity investment, as part of a funding review, Reuters has reported in media. Aston Martin reported a third quarter loss but is pinning hopes of a revival with the launch next year of its DBX SUV being made in St Athan, near Cardiff and unveiled last … [Read more...]
Tradelines 13 November
Nissan profits have collapsed by 70% in three months. It made $278M to the end of September with retail sales down 7.5% globally, European registrations slid 23% but sales showed a steadying picture in America. JLR is looking for partners to share new technology and other costs, say media reports. BMW and Zhejiang Geely are mentioned but others may be … [Read more...]
Newslines 12 November
Volkswagen is breaking new ground with a concept for an electric estate car to be shown at the Los Angeles motor show the end of this week. The ID Space Vizzion is their latest proposal for a new model after a future EV hatchback was unveiled in the autumn. Jaguar Land Rover’s decision to shut down assembly plants last week to ease any Brexit issues with … [Read more...]
Massive merger of European brands on the cards
Talks have started to merge Peugeot-Citroen-Vauxhall and Fiat-Chrysler-Jeep operations around the world. The new business would be the fourth biggest in the automotive sector and have implications for all their current manufacturing plants building 8.7 Million vehicles annually and turning in a €170 Billion revenue and €11 Billion profit. The deal will … [Read more...]
Dealers to be banned from some car finance
The Financial Conduct Authority plans to ban the way in which some car retailers and brokers in the motor finance sector receive commission. Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay. The broker can set that rate and the FCA found that the widespread use of this type of commission … [Read more...]
Newslines 1 October
The Volkswagen Group is taking a fresh look at its brands as they face future challenges and opportunities. It may mean uplifting Seat models while Skoda will scale down premium extras in future models and focus more on previously neglected markets, especially in eastern Europe against Hyundai, Kia and Dacia and all brands will have to reduce overlaps and … [Read more...]
