Friday, September 22, 2006
Lancaster considers HR Owen takeover
Nick Lancaster, the chief executive of HR Owen, could be on the verge of mounting a takeover bid for the luxury car dealer group.
An announcement from the HR Owen board to the London stock exchange said that increased press speculation over the future of the company and fluctuation in its share price had forced it to clarify its position in accordance with the Takeover Code.
“The board confirms that it has been informed that Nicholas Lancaster is considering making a proposal. No proposal has yet been received,” the statement said.
DATED: 22.09.06
FEED: MT
An announcement from the HR Owen board to the London stock exchange said that increased press speculation over the future of the company and fluctuation in its share price had forced it to clarify its position in accordance with the Takeover Code.
“The board confirms that it has been informed that Nicholas Lancaster is considering making a proposal. No proposal has yet been received,” the statement said.
DATED: 22.09.06
FEED: MT
Williamson Motors in administration
The slowdown in new car sales took its toll last week as Williamson Motors was forced into administration.
The group, ranked 200 in the Motor Trader Top 200, represented Kia, Renault, Citroen and Peugeot with sites across the north east in Darlington, Spennymoor and Hartlepool.
Administrators Grant Thornton were called in and immediately closed the Kia showroom in Hartlepool and the Peugeot outlet in Spennymoor.
Around 60 workers are believed to have lost their jobs as a result of the closures. Grant Thornton said it was looking to sell the remaining two sites in Darlington as going concerns.
DATED: 22.09.06
FEED: MT
The group, ranked 200 in the Motor Trader Top 200, represented Kia, Renault, Citroen and Peugeot with sites across the north east in Darlington, Spennymoor and Hartlepool.
Administrators Grant Thornton were called in and immediately closed the Kia showroom in Hartlepool and the Peugeot outlet in Spennymoor.
Around 60 workers are believed to have lost their jobs as a result of the closures. Grant Thornton said it was looking to sell the remaining two sites in Darlington as going concerns.
DATED: 22.09.06
FEED: MT
Aston Martin named world's coolest brand
Aston Martin has been named as the world’s coolest brand.
The luxury carmaker topped the superbrands survey ahead of designer Alexander McQueen and the iPod.
Other brands to feature in the top 20 included Bentley, which was 17th overall, online search engine Google and the Tate Modern.
DATED: 22.09.06
FEED: MT
The luxury carmaker topped the superbrands survey ahead of designer Alexander McQueen and the iPod.
Other brands to feature in the top 20 included Bentley, which was 17th overall, online search engine Google and the Tate Modern.
DATED: 22.09.06
FEED: MT
New models set for Paris debut
Next week’s Paris Motor Show sees the launch of several new models which will be entering UK dealerships over the coming months.
The most high profile debut will be the new generation Ford Mondeo, due to reach UK dealerships in May, which will only be shown in estate form.
Volkswagen will be showing new versions of the Touareg and Touran as well as the Iroc concept which could be a future replacement for the Scirocco model.
Citroen will unveil its new C4 Picasso which will sit between the Xsara Picasso and C8 models in its expanding lineup.
Mini will be showing its second generation model and the forthcoming Cooper derivative.
DATED: 22.09.06
FEED: MT
The most high profile debut will be the new generation Ford Mondeo, due to reach UK dealerships in May, which will only be shown in estate form.
Volkswagen will be showing new versions of the Touareg and Touran as well as the Iroc concept which could be a future replacement for the Scirocco model.
Citroen will unveil its new C4 Picasso which will sit between the Xsara Picasso and C8 models in its expanding lineup.
Mini will be showing its second generation model and the forthcoming Cooper derivative.
DATED: 22.09.06
FEED: MT
Thursday, September 21, 2006
Lotus plans massive workforce cuts
More than 200 workers could be axed at Lotus as part of its new proposed five-year strategic business plan.
The Norwich-based group said it plans to “right-size” its workforce and intends shedding the jobs by the end of the year.
The announcement came as the group revealed plans to launch two additional models over the next three years.
The company said its new business plan involved expanding in new markets, joint ventures and strategic alliances.
Lotus recently responded to the general economic downturn by reducing production of its Elise and Exige models.
DATED: 21.09.06
FEED: MT
The Norwich-based group said it plans to “right-size” its workforce and intends shedding the jobs by the end of the year.
The announcement came as the group revealed plans to launch two additional models over the next three years.
The company said its new business plan involved expanding in new markets, joint ventures and strategic alliances.
Lotus recently responded to the general economic downturn by reducing production of its Elise and Exige models.
DATED: 21.09.06
FEED: MT
TVR abandons factory relocation
Sports car manufacturer TVR has abandoned plans to move to a new temporary factory in Lancashire.
Production was set to transfer to an interim facility in Squires Gate, Blackpool, but the move has been scrapped after the site failed to meet health and safety standards.
TVR said it would now stay at its site in Bispham until the new factory in Blackpool Business Park opens in 2008.
DATED: 21.09.06
FEED: MT
Production was set to transfer to an interim facility in Squires Gate, Blackpool, but the move has been scrapped after the site failed to meet health and safety standards.
TVR said it would now stay at its site in Bispham until the new factory in Blackpool Business Park opens in 2008.
DATED: 21.09.06
FEED: MT
BCA goes under the hammer
UK auction giant British Car Auctions has been snapped up by a leading private equity house in a multi-million pound deal.
Montagu Private Equity has made an agreed offer to acquire all of BCA’s shares and is likely to complete the deal by the end of October. BCA operates out of 40 sites in 11 countries and generates proceeds of over £3bn from its auctions.
Montagu director, Wiet Stokhuyzen, said: “We look forward to investing in further growth, particularly in Europe where BCA has developed a strong position.” BCA’s senior management team is to remain on board with the firm.
DATED: 21.09.06
FEED: MT
Montagu Private Equity has made an agreed offer to acquire all of BCA’s shares and is likely to complete the deal by the end of October. BCA operates out of 40 sites in 11 countries and generates proceeds of over £3bn from its auctions.
Montagu director, Wiet Stokhuyzen, said: “We look forward to investing in further growth, particularly in Europe where BCA has developed a strong position.” BCA’s senior management team is to remain on board with the firm.
DATED: 21.09.06
FEED: MT
Toyota brings forward European sales target
Toyota is now aiming to reach 1.2 million sales by 2008 - two years ahead of schedule.
The Japanese brand said steady growth in western Europe would be accompanied by accelerated growth in eastern Europe and in Russia, allowing it to revise the previous 2010 target.
Toyota has set itself a global sales target of 9.8 million units in 2008.
DATED: 21.09.06
FEED: MT
The Japanese brand said steady growth in western Europe would be accompanied by accelerated growth in eastern Europe and in Russia, allowing it to revise the previous 2010 target.
Toyota has set itself a global sales target of 9.8 million units in 2008.
DATED: 21.09.06
FEED: MT
Monday, September 18, 2006
Car sales down in Europe
New car sales across Europe fell 1.4 per cent to 886,824 units in August, according to the car makers’ association Acea.
This followed a decrease of 4.5 per cent to just over 1.2 million registrations in July. Acea said the decline was triggered by economic uncertainty in many countries as well as rising fuel prices and interest rates.
All of the five main markets, Germany, the UK, Italy, France and Spain declined in July and only France, with a marginal upturn, bucked the trend in August.
DATED: 18.09.06
FEED: MT
This followed a decrease of 4.5 per cent to just over 1.2 million registrations in July. Acea said the decline was triggered by economic uncertainty in many countries as well as rising fuel prices and interest rates.
All of the five main markets, Germany, the UK, Italy, France and Spain declined in July and only France, with a marginal upturn, bucked the trend in August.
DATED: 18.09.06
FEED: MT
DCX slashes profit forecast
DaimlerChrysler has been forced to slash its operating profit forecast for 2006 by around 1bn euro (£673m) after mounting losses at its US Chrysler division finally took their toll.
The carmaker warned that losses at Chrysler were worse than expected and could amount to 1.2bn euro in the third quarter.
The company's shares fell 8.3 percent on the news and DCX now expects operating profit of around 5bn euros this year.
DATED: 18.09.06
FEED: MT
The carmaker warned that losses at Chrysler were worse than expected and could amount to 1.2bn euro in the third quarter.
The company's shares fell 8.3 percent on the news and DCX now expects operating profit of around 5bn euros this year.
DATED: 18.09.06
FEED: MT
Proton and Peugeot plan partnership
PSA Peugeot Citroen has signed an agreement with Proton to look at forming a strategic alliance.
Peugeot chief executive Jean-Martin Folz and Proton managing director Syed Zainal Abidin Bin Syed Mohamed Tahir have signed a letter of intent in Paris to study possible cooperation between the two brands.
The study will focus on product development, manufacturing, quality initiatives, contract assembly and distribution. The aim is for the study to bring benefits to both parties in the south east Asian market.
DATED: 18.09.06
FEED: MT
Peugeot chief executive Jean-Martin Folz and Proton managing director Syed Zainal Abidin Bin Syed Mohamed Tahir have signed a letter of intent in Paris to study possible cooperation between the two brands.
The study will focus on product development, manufacturing, quality initiatives, contract assembly and distribution. The aim is for the study to bring benefits to both parties in the south east Asian market.
DATED: 18.09.06
FEED: MT
Lex wins £14m RAC contract
Lex has won a new £14m-a-year outsourcing contract with the RAC.
The four-year deal will see Lex manage the breakdown recovery company’s 3,350 cars and vans and take full control of running the fleet.
Debbie Hewitt, RAC managing director, said: “Everyone in the Lex team continues to demonstrate they understand our business. Their breadth of knowledge of this industry continues to bring significant benefit to RAC.”
DATED: 18.09.06
FEED: MT
The four-year deal will see Lex manage the breakdown recovery company’s 3,350 cars and vans and take full control of running the fleet.
Debbie Hewitt, RAC managing director, said: “Everyone in the Lex team continues to demonstrate they understand our business. Their breadth of knowledge of this industry continues to bring significant benefit to RAC.”
DATED: 18.09.06
FEED: MT
Sunday, September 17, 2006
Mini ramps up UK production
 | |
| The BMW Group has confirmed a £200m investment in its Mini plant in Oxford that will see a 20 per cent hike in production capacity to 240,000 cars a year and the creation of 450 jobs. The manufacturer has now created a Mini production triangle linking factories in Oxford, Swindon and Birmingham. It claimed this had resulted in external supplier investment of £40m and the creation of 750 jobs in the UK automotive supply base. UK produced content of the new Mini has risen from 40 per cent to 60 per cent for the new model. |
GM agrees dealer management contract
Global retail network consulting firm, Urban Science, and UK business management solutions provider ASE are to provide dealer business management services for approximately 4,500 Vauxhall/Opel, Saab and Chevrolet dealers across 36 European countries.
The system will enable General Motors to monitor and help improve the performance of individual dealers and the overall sales network. It is expected to be in full operation early in 2007.
DATED: 17.09.06
FEED: MT
The system will enable General Motors to monitor and help improve the performance of individual dealers and the overall sales network. It is expected to be in full operation early in 2007.
DATED: 17.09.06
FEED: MT
Buyers fail to spot used car faults
Britons are spending over £238m a year to fix faulty used car purchases.
Almost a third of used car buyers are failing to spot problems on the forecourt, leaving them with a lighter wallet and a financial headache. According to research by RAC Vehicle Examinations, the faults on vehicles are often obvious with nearly a quarter of buyers who experience difficulties reporting mechanical problems within a month of ownership.
The survey also found that despite a lack of technical knowledge, only 29 per cent of car buyers paid for a professional vehicle examination and almost half of buyers spent less than half-an-hour carrying out checks on their potential purchase.
DATED: 17.09.06
FEED: MT
Almost a third of used car buyers are failing to spot problems on the forecourt, leaving them with a lighter wallet and a financial headache. According to research by RAC Vehicle Examinations, the faults on vehicles are often obvious with nearly a quarter of buyers who experience difficulties reporting mechanical problems within a month of ownership.
The survey also found that despite a lack of technical knowledge, only 29 per cent of car buyers paid for a professional vehicle examination and almost half of buyers spent less than half-an-hour carrying out checks on their potential purchase.
DATED: 17.09.06
FEED: MT
Mini voted Britain's best used car
BMW's Mini is the UK’s best all-round used car package, according to a new survey of the nation’s motoring press.
Automotive warranty firm, Warranty Direct, canvassed the opinions of journalists on a shortlist of the 40 most reliable models in the market.
The poll looked at eight segments in total with the Mini topping its respective category and being voted the nation’s best used car buy. Mazda’s MX-5 took second place while BMW’s 5-Series came third.
DATED: 17.09.06
FEED: MT
Automotive warranty firm, Warranty Direct, canvassed the opinions of journalists on a shortlist of the 40 most reliable models in the market.
The poll looked at eight segments in total with the Mini topping its respective category and being voted the nation’s best used car buy. Mazda’s MX-5 took second place while BMW’s 5-Series came third.
DATED: 17.09.06
FEED: MT
Ex-MG Rover workers taken on at BMW plant
A number of ex-MG Rover car plant workers have taken up jobs with the BMW engine plant near Birmingham this week.
This 15 workers completed the Automotive Academy's re-employment training programme and were awarded their skills passport earlier this year. According to Alan Begg, chief executive of the Automotive Academy, the programme’s aim was to raise the skills of workers seeking re-employment and retain essential expertise within the industry.
He said: “That so many candidates have already returned to employment shows the commitment by the industry to programmes such as this.”
DATED: 17.09.06
FEED: MT
This 15 workers completed the Automotive Academy's re-employment training programme and were awarded their skills passport earlier this year. According to Alan Begg, chief executive of the Automotive Academy, the programme’s aim was to raise the skills of workers seeking re-employment and retain essential expertise within the industry.
He said: “That so many candidates have already returned to employment shows the commitment by the industry to programmes such as this.”
DATED: 17.09.06
FEED: MT
Manufacturers cleaning up their act
Vehicle manufacturers are claiming to have halved the amount of energy use, waste and CO2 emissions they produced in the last four years.
According to the SMMT’s latest sustainability report, average energy use per vehicle has been cut from 6.2 to 3.2 MWh per vehicle, while corresponding CO2 figures per vehicle are down to 0.6 tonnes, from 1.3 tonnes.
“We have embraced our responsibility and delivered a clear, clean message; the motor industry is willing, capable and open about being part of the solution to the issue of sustainable motoring”, said Christopher Macgowan, SMMT chief executive.
DATED: 17.09.06
FEED: MT
According to the SMMT’s latest sustainability report, average energy use per vehicle has been cut from 6.2 to 3.2 MWh per vehicle, while corresponding CO2 figures per vehicle are down to 0.6 tonnes, from 1.3 tonnes.
“We have embraced our responsibility and delivered a clear, clean message; the motor industry is willing, capable and open about being part of the solution to the issue of sustainable motoring”, said Christopher Macgowan, SMMT chief executive.
DATED: 17.09.06
FEED: MT
