As General Motors tries to hammer out a deal to sell its long-struggling Europe business to PSA Group, how the companies will manage an underfunded pension plan for retirees remains to be sorted. GM’s pension plan for Opel and Vauxhall retirees is underfunded by about $9 billion, according to Bloomberg News. PSA would like GM to keep a big chunk of that responsibility, … [Read more...]
Newslines 21 February: Vauxhall pensions mountain
The pensions deficit at Vauxhall stands at about £1 Billion, Reuters has been told. Peugeot is considering taking over GM's European divisions Vauxhall and Opel, and many multinational companies including Tata Steel have had to deal with increased pension spending, and it could be a factor which influences Peugeot in where to make any possible cuts following a deal being reached after talks … [Read more...]
Newslines 18 February
Councils want part of the fuel duty ring-fenced to pay for pothole repairs, which they have blamed on the rise in larger lorries. The RAC has been campaigning for this for several years but disputes the LGA assumption the damage is due to bigger vehicles and says it's an historic problem and the alternative would be smaller but more lorries leading to further congestion and pollution. Audi … [Read more...]
UK concerns over Vauxhall plants
Britain has contacted the president of General Motors to express concerns after the American firm opened talks to sell its European operations, including the Vauxhall plants in England, to France's PSA Group. The Department for Business said the government remained in close contact with GM and was monitoring the situation after the two companies said on tuesday that they were in talks over a … [Read more...]
Vauxhall face PSA merger deal to cut costs for firms
Vauxhall is facing the prospect of a merger with French vehicle maker PSA Peugeot Citroen. The British company’s parent and co-owner of Opel, General Motors, wants to divest itself of its two European operations. Vauxhall Opel and PSA have for five years collaborated on SUV and LCV projects but now their tie up could become more extensive and would create Europe’s second biggest automotive … [Read more...]
Best-buy 4x4s listed
With severe snow warnings in place for most of the UK, many motorists may consider buying a 4x4 for the winter months. Automotive data expert hpi has put together a list of this season's best buys with Tim Bearder, Black Book Editor at hpi. Tim said, “This all depends on your budget of course if you are thinking of spending £40-£60,000 then three cars that spring to mind is the Porsche … [Read more...]
Car market is thermometer of UK economy
It has been a year of ups and downs for the economy. The first half of 2016 was dominated by uncertainty in the lead up to the EU Referendum, which caused many businesses to halt investing and hiring until the result of the vote was known. Once the result for Brexit was confirmed, this understandably shook the economy and caused several industries to dip amongst further uncertainty of our … [Read more...]
UK automotive and engine production hit records
Car, engine, van, lorry and bus making is soaring in Britain. The falling value of the pound has helped exports because our vehicles have become cheaper to buy abroad and if manufacturers buy more component parts here they will cut import costs, exchange rate charges and make more money. UK car manufacturing output reached its highest level since 1999 in November, with almost 170,000 … [Read more...]
Tradelines 21 December
Richard Roberts is the new Fleet Marketing and Motability Manager at Vauxhall. He brings a wealth of experience gained from working across the Vauxhall and GM mutli-brand business ranging from regional retail sales and aftersales operations, to central forecast and business planning and was recently the Fleet National Contract Hire and Leasing Manager responsible for managing the relationship … [Read more...]
“Right” & “wrong” cars curb house sales
If you're browsing the Sunday papers housing pages today, you could be a victim of a little appreciated fact that over a third of Brits would be put off a property by the cars parked outside. School catchment areas and transport links often come high on the list of factors when choosing a property, but new research shows that over a third (36%) of us would be but put off renting or buying a … [Read more...]