Friday, September 01, 2006
Ford could offload Aston Martin
Ford is considering offloading Aston Martin, an icon of British sports car making, as part of its cost-cutting plans.
Ford claimed it has already received a number of approaches from parties interested in buying the marque.
The car maker took a 75 per cent stake in Aston martin in 1987 before taking complete ownership in 1994.
Last month speculation was rife in the industry that Ford was engineering a sale of fellow Premier Automotive Group brand, Jaguar.
Ford has admitted that PAG will not make a profit this year.
DATED: 01.09.06
FEED: MT
Ford claimed it has already received a number of approaches from parties interested in buying the marque.
The car maker took a 75 per cent stake in Aston martin in 1987 before taking complete ownership in 1994.
Last month speculation was rife in the industry that Ford was engineering a sale of fellow Premier Automotive Group brand, Jaguar.
Ford has admitted that PAG will not make a profit this year.
DATED: 01.09.06
FEED: MT
UK sales lag behind in Europe
The European new car market grew by 1.7 per cent to just under 8.5 million units in the first six months of the year but sales in the UK slumped by 4.2 per cent in the same period.
According to Jato Dynamics, diesel sales increased 1.2 per cent year-on-year to take a 49.6 per cent share of the total European market.
Volkswagen was the biggest selling brand ahead of Renault, Opel/Vauxhall and Ford. Fiat grew sales by 23 per cent.
DATED: 01.09.06
FEED: MT
According to Jato Dynamics, diesel sales increased 1.2 per cent year-on-year to take a 49.6 per cent share of the total European market.
Volkswagen was the biggest selling brand ahead of Renault, Opel/Vauxhall and Ford. Fiat grew sales by 23 per cent.
DATED: 01.09.06
FEED: MT
Car insurance prices set to rise
Car insurance prices look set to rise after Norwich Union, the UK’s second largest car insurer, hiked up its prices.
The company has raised premiums by an average of 16 per cent, claiming that rising claim costs had forced the increase. Prices will rise significantly for riskier customers – premiums for young men will leap by up to 40 per cent.
Industry speculation suggests that other insurance companies will now follow Norwich Union’s lead.
DATED: 01.09.06
FED: MT
The company has raised premiums by an average of 16 per cent, claiming that rising claim costs had forced the increase. Prices will rise significantly for riskier customers – premiums for young men will leap by up to 40 per cent.
Industry speculation suggests that other insurance companies will now follow Norwich Union’s lead.
DATED: 01.09.06
FED: MT
Ryton workers target plate change
Peugeot workers from Ryton will be aiming to affect new car registrations with a demonstration on Friday 1 September at George Heath Motors in Birmingham as they continues to urge motorists to boycott the company.
The Ryton workers will follow that demonstration up with an event on Saturday 2 September in the Coventry city centre, where they will distribute leaflets explaining the Peugeot boycott campaign.
T&G convenor at the Ryton plant Jim O'Boyle said: “We’re reminding Peugeot Citroen that sales in the UK will be hit if the company abandons Coventry and the UK.”
DATED: 01.09.06
FEED: MT
The Ryton workers will follow that demonstration up with an event on Saturday 2 September in the Coventry city centre, where they will distribute leaflets explaining the Peugeot boycott campaign.
T&G convenor at the Ryton plant Jim O'Boyle said: “We’re reminding Peugeot Citroen that sales in the UK will be hit if the company abandons Coventry and the UK.”
DATED: 01.09.06
FEED: MT
Thursday, August 31, 2006
Stark choice for illegal Japanese car importer
A woman involved in a plot to import cars illegally has been told she must pay a £147,000 confiscation order or go to prison for 27 months.
Cherry Gunyon, 60, of Burnham Road, Dartford, had previously pleaded guilty before Maidstone Crown Court to deception charges and had received a 200-hour community service order.
The court heard that with her late partner Keith Chapman she had imported Japanese cars claiming they were for personal use when really they were for resale. At a later hearing Gunyon was handed the additional penalty of the £147,000 confiscation order.
DATED: 31.08.06
FEED: MT
Cherry Gunyon, 60, of Burnham Road, Dartford, had previously pleaded guilty before Maidstone Crown Court to deception charges and had received a 200-hour community service order.
The court heard that with her late partner Keith Chapman she had imported Japanese cars claiming they were for personal use when really they were for resale. At a later hearing Gunyon was handed the additional penalty of the £147,000 confiscation order.
DATED: 31.08.06
FEED: MT
Land Rover site snapped up in Prestons Group MBO
One of the largest Land Rover dealerships in the UK has undergone a management buyout following the former owner’s decision to focus on other business interests.
The management team of Prestons Group, which includes Lee Collins, John Kerr, Ian Chadwick and Dennis Smith, snapped up Lancashire based Hillendale Land Rover for a seven figure sum from former boss Richard Preston.
The dealership has been a licensed supplier of new and second hand Land Rovers since 1997and also provides vehicle repairs and servicing facilities at its in-house workshop
DATED: 31.08.06
FEED: MT
The management team of Prestons Group, which includes Lee Collins, John Kerr, Ian Chadwick and Dennis Smith, snapped up Lancashire based Hillendale Land Rover for a seven figure sum from former boss Richard Preston.
The dealership has been a licensed supplier of new and second hand Land Rovers since 1997and also provides vehicle repairs and servicing facilities at its in-house workshop
DATED: 31.08.06
FEED: MT
HR Owen confirms site disposals
Prestige dealer group HR Owen has formally approved the sale of its Jeep, Lexus, Mercedes-Benz, Smart and Land Rover businesses.
In an announcement following the group’s extraordinary meeting yesterday, HR Owen said it had passed a resolution confirming the sale of the dealerships.
The bulk of the businesses were snapped up by Lookers in a deal that could rise to £25m.
DATED: 31.08.06
FEED: MT
In an announcement following the group’s extraordinary meeting yesterday, HR Owen said it had passed a resolution confirming the sale of the dealerships.
The bulk of the businesses were snapped up by Lookers in a deal that could rise to £25m.
DATED: 31.08.06
FEED: MT
Legislation threat looms on emissions
New European legislation could be introduced to force car makers to speed up cuts to greenhouse emissions if voluntary targets continue not to be met.
Carbon dioxide emissions from new cars sold in the 15 original members of the European Union have fallen by 12 per cent since 1995, according to new figures from European, Japanese and Korean car manufacturer associations but this falls well short of the 25 per cent the manufacturers have promised to achieve by 2009.
Gunter Verheugen, the European Commission’s industry commissioner said the situation was not satisfactory and that laws forcing car makers to meet targets could be introduced.
DATED: 31.08.06
FEED: MT
Carbon dioxide emissions from new cars sold in the 15 original members of the European Union have fallen by 12 per cent since 1995, according to new figures from European, Japanese and Korean car manufacturer associations but this falls well short of the 25 per cent the manufacturers have promised to achieve by 2009.
Gunter Verheugen, the European Commission’s industry commissioner said the situation was not satisfactory and that laws forcing car makers to meet targets could be introduced.
DATED: 31.08.06
FEED: MT
West Yorkshire car business raided over clocking charges
A West Yorkshire car business has been raided by police and Trading Standards Officers following a series of complaints from the public.
Two men were arrested at the Cars R Us premises in Windhill, Shipley, following the raid and a quantity of documents were removed.
Chief TSO for West Yorkshire David Lodge said the business had been raided primarily over the charge of clocking cars. “The investigation involved complaints made about 40 vehicles over an 18-month period principally over the altering of mileage,” he said.
DATED: 31.08.06
FEED: MT
Two men were arrested at the Cars R Us premises in Windhill, Shipley, following the raid and a quantity of documents were removed.
Chief TSO for West Yorkshire David Lodge said the business had been raided primarily over the charge of clocking cars. “The investigation involved complaints made about 40 vehicles over an 18-month period principally over the altering of mileage,” he said.
DATED: 31.08.06
FEED: MT
Inchcape drives further into Russia
Inchcape has expanded further into the Russian market by acquiring a majority stake in the Axel Car Toyota and Lexus retail and service business in St Petersburg.
A new Russian company will be established to purchase the goodwill and assets of Axel Car's business with over 75 per cent to be owned by Inchcape.
Earlier this year the group entered into partnership with Russian independent car retail group Independence for the selling and servicing of the Toyota brand in Moscow. Andre Lacroix, group chief executive of Inchcape, said the group now had two strong anchor points in Russia from which to build a profitable scale business.
DATED: 31.08.06
FEED: MT
A new Russian company will be established to purchase the goodwill and assets of Axel Car's business with over 75 per cent to be owned by Inchcape.
Earlier this year the group entered into partnership with Russian independent car retail group Independence for the selling and servicing of the Toyota brand in Moscow. Andre Lacroix, group chief executive of Inchcape, said the group now had two strong anchor points in Russia from which to build a profitable scale business.
DATED: 31.08.06
FEED: MT
SMTA unveils new president
Sandy Burgess has been appointed as the new president of the Scottish Motor Trade Association.
He replaces Adrian Smith, owner of Adrian Smith Motors in Aberdeen, in the role and will now serve a two-year term.
Burgess has extensive experience of the industry, having previously established his own dealer group as well as serving on the Peugeot national dealer council.
DATED: 31.08.06
FEED: MT
He replaces Adrian Smith, owner of Adrian Smith Motors in Aberdeen, in the role and will now serve a two-year term.
Burgess has extensive experience of the industry, having previously established his own dealer group as well as serving on the Peugeot national dealer council.
DATED: 31.08.06
FEED: MT
