Friday, December 15, 2006
Inchcape makes £263m bid for EMH
Inchcape has agreed to acquire European Motor Holdings in a cash deal that values the company at £262.9m.
The offer of 480p a share from Inchcape represents a premium of 18.5 per cent on the closing price of EMH shares on 4 December - the day before the group said it was in discussions with interested parties.
Inchcape said the acquisition of 52 additional sites would greatly expand its presence in the north of England.
DATED: 15.12.06
FEED: MT
The offer of 480p a share from Inchcape represents a premium of 18.5 per cent on the closing price of EMH shares on 4 December - the day before the group said it was in discussions with interested parties.
Inchcape said the acquisition of 52 additional sites would greatly expand its presence in the north of England.
DATED: 15.12.06
FEED: MT
Colin Appleyard strengthens board
Yorkshire-based Suzuki dealer Colin Appleyard has promoted the directors of its respective motorcycle and car divisions, Stuart Feeny and Robin Luscombe, to its board as senior directors. In addition , Nigel Smith and David Hughes have been appointed full directors. Chairman Colin Appleyard said the moves reflected the company’s policy of promoting from within.
DATED: 15.12.06
FEED: MT
DATED: 15.12.06
FEED: MT
Diesel prices set to rise
New air quality limits in forthcoming Euro 5 and 6 emissions standards could see diesel car prices shoot up significantly.
Experts in Europe have warned that prices for oil burners could go up by £600, making them less attractive to buyers. This, in turn, has repercussions for CO2 emissions. SMMT chief executive, Christopher Macgowan said: “The dark side of Euro 5 and 6 limits is the impact on CO2 reduction targets. We should therefore re-affirm the importance of proper impact assessments on all new legislation.”
DATED: 15.12.06
FEED: MT
Experts in Europe have warned that prices for oil burners could go up by £600, making them less attractive to buyers. This, in turn, has repercussions for CO2 emissions. SMMT chief executive, Christopher Macgowan said: “The dark side of Euro 5 and 6 limits is the impact on CO2 reduction targets. We should therefore re-affirm the importance of proper impact assessments on all new legislation.”
DATED: 15.12.06
FEED: MT
GM gives thumbs up to Ellesmere Port
Vauxhall’s Ellesmere Port factory is back on track and competitive with GM’s other plants around Europe, according to one of GM’s top-ranking executives.
According to Vauxhall chairman and GM Europe marketing chief Jon Browning, improved quality and productivity at the plant has significantly boosted its chances of securing further investment.
The future of Ellesmere Port is tied to a decision in mid-2007 as to which plants will get the next generation Astra. Ellesmere Port is in competition with Bochum in Germany and Antwerp in Belgium.
DATED: 15.12.06
FEED: MT
According to Vauxhall chairman and GM Europe marketing chief Jon Browning, improved quality and productivity at the plant has significantly boosted its chances of securing further investment.
The future of Ellesmere Port is tied to a decision in mid-2007 as to which plants will get the next generation Astra. Ellesmere Port is in competition with Bochum in Germany and Antwerp in Belgium.
DATED: 15.12.06
FEED: MT
Wednesday, December 13, 2006
New UK car price rise outstrips Europe
The average price of a new car in the UK increased by 1.3 per cent during the 12 months to September 2006.
According to the latest study by Roadtodata. The price rise outstripped Europe where the average cost of a new car increased by just 0.9 per cent during the same period.
New car prices in the UK are now 3 per cent higher than the average price of new cars in the euro currency zone.
DATED: 13.12.06
FEED: MT
According to the latest study by Roadtodata. The price rise outstripped Europe where the average cost of a new car increased by just 0.9 per cent during the same period.
New car prices in the UK are now 3 per cent higher than the average price of new cars in the euro currency zone.
DATED: 13.12.06
FEED: MT
Congestion charge praised
London’s congestion charge has been singled out for praise by the European Commission.
It was one of the successes picked out from a report on economic reforms in Britain.
The EC praised Britain for reforms including energy market opening and increased investment in transport. It also praised the introduction of road charging policies.
DATED: 13.12.06
FEED: MT
It was one of the successes picked out from a report on economic reforms in Britain.
The EC praised Britain for reforms including energy market opening and increased investment in transport. It also praised the introduction of road charging policies.
DATED: 13.12.06
FEED: MT
Car crashes cost economy £1bn a year
Car accidents in the UK cost the British economy around £1bn in lost working hours each year, a new study has claimed.
Research by Accident Exchange found that motorists spend an average of 3.5 days dealing with the aftermath of a crash. There are an average of 10,000 crashes a day in the UK, resulting in the loss of 12.4 million working days, and the average loss of an employee each day is £75.
Accident Exchange said the loss of such a large number of days was the equivalent to a combined annual total of £926m.
DATED: 13.12.06
FEED: MT
Research by Accident Exchange found that motorists spend an average of 3.5 days dealing with the aftermath of a crash. There are an average of 10,000 crashes a day in the UK, resulting in the loss of 12.4 million working days, and the average loss of an employee each day is £75.
Accident Exchange said the loss of such a large number of days was the equivalent to a combined annual total of £926m.
DATED: 13.12.06
FEED: MT
School run puts motorists in a jam
Congestion caused by parents driving children to school during term time can increase motorists’ journey times threefold, according to satellite navigation provider, Trafficmaster.
It said the worst affected areas were in Bradford, Cheltenham and Newbury.
DATED: 13.12.06
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It said the worst affected areas were in Bradford, Cheltenham and Newbury.
DATED: 13.12.06
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Economic concerns drive UK buying habits
Fuel economy and running costs are the main priorities for UK new car buyers, according to research by Gilbran, the automotive real estate company.
After purchase price, 18 per cent of drivers cited fuel economy and running costs as the most important considerations in choosing a car, compared to 12 per cent who named design and style and 10 per cent each who opted for reliability and brand image.
Just 7 per cent of drivers said performance was their prime consideration.
DATED: 13.12.06
FEED: MT
After purchase price, 18 per cent of drivers cited fuel economy and running costs as the most important considerations in choosing a car, compared to 12 per cent who named design and style and 10 per cent each who opted for reliability and brand image.
Just 7 per cent of drivers said performance was their prime consideration.
DATED: 13.12.06
FEED: MT
THE WARRANTY Co.com
THE WARRANTY Co.com, having successfully held its first golf day, says it has plans to develop its corporate entertainment activity as a way of raising its profile and thanking clients.
This year's golf day raised a donation for BEN
DATED: 13.12.06
FEED: AW
This year's golf day raised a donation for BEN
DATED: 13.12.06
FEED: AW
IMI on target for 2,500 new members
THE INSTITUTE of the Motor Industry is on track to exceed its target of 2,500 new members during the year ending March 200, following a record November.
A record 1,100 individuals applied for membership, last month, the highest received in a single month in the IMI's 86-year history.
More than 600 of the applicants came as a result of the Institute throwing-open its doors to the National Union of Students.
A further 500 applications from across the industry.
So far this financial year, the IMI has elected 1,900 members.
DATED: 13.12.06
FEED: AW
A record 1,100 individuals applied for membership, last month, the highest received in a single month in the IMI's 86-year history.
More than 600 of the applicants came as a result of the Institute throwing-open its doors to the National Union of Students.
A further 500 applications from across the industry.
So far this financial year, the IMI has elected 1,900 members.
DATED: 13.12.06
FEED: AW
LDV begins to carry it off
MIDLANDS VAN-maker, LDV, saw a 160% sales increase in November.
The Russian-owned manufacturer registered 735 Maxus vans in November, beating last year's total by 454.
The figures include 135 new Maxus vans for the Royal Mail.
Over the year we are running 57% ahead of the corresponding period of 2005," said marketing director, Steve Miller.
DATED: 13.12.06
FEED: AW
The Russian-owned manufacturer registered 735 Maxus vans in November, beating last year's total by 454.
The figures include 135 new Maxus vans for the Royal Mail.
Over the year we are running 57% ahead of the corresponding period of 2005," said marketing director, Steve Miller.
DATED: 13.12.06
FEED: AW
Tuesday, December 12, 2006
New Year finance offer from Vauxhall
Vauxhall is to launch a New Year offer to cover the first year’s finance on Meriva, Astra, Zafira Energy and Vectra Exclusiv models.
The car maker said savings of up to £3,250 would be available and insisted the arrangement was not a buy now pay later scheme where the balance of any loan was deferred for 12 months.
Based on Vauxhall’s Choices payments plan, buyers pay a 25 per cent deposit, or trade in their old car, and Vauxhall will cover the first 12 repayments. Subsequently, customers can pay for their vehicle over a further 30 months at a rate of 9.9 per cent APR.
DATED: 12.12.06
FEED: MT
The car maker said savings of up to £3,250 would be available and insisted the arrangement was not a buy now pay later scheme where the balance of any loan was deferred for 12 months.
Based on Vauxhall’s Choices payments plan, buyers pay a 25 per cent deposit, or trade in their old car, and Vauxhall will cover the first 12 repayments. Subsequently, customers can pay for their vehicle over a further 30 months at a rate of 9.9 per cent APR.
DATED: 12.12.06
FEED: MT
Nissan to join hybrid revolution
Nissan has announced it is to launch a hybrid car by 2010 marking a significant U-turn for its president Carlos Ghosn.
The Nissan boss has previously described such cars as niche and a poor business proposition but Japan’s second largest carmaker said it would develop its own hybrid technology as part of a plan to improve its green credentials.
Reports suggest the Altima sedan will be launched in the US in 2007.
DATED: 12.12.06
FEED: MT
The Nissan boss has previously described such cars as niche and a poor business proposition but Japan’s second largest carmaker said it would develop its own hybrid technology as part of a plan to improve its green credentials.
Reports suggest the Altima sedan will be launched in the US in 2007.
DATED: 12.12.06
FEED: MT
Mazda launches free crash repair service
Mazda is launching a new free crash repair service
The Mazda Accident Management Service will help Mazda owners repair vehicles which require collision repairs anywhere in Europe.
The service includes vehicle recovery, repair at a Mazda Approved Accident Repair Centre, and immediate alternative transport for at least 48 hours.
DATED: 12.12.06
FEED: MT
The Mazda Accident Management Service will help Mazda owners repair vehicles which require collision repairs anywhere in Europe.
The service includes vehicle recovery, repair at a Mazda Approved Accident Repair Centre, and immediate alternative transport for at least 48 hours.
DATED: 12.12.06
FEED: MT
Motorpoint rapped by advertising watchdog
Car supermarket Motorpoint has been rapped by an advertising watchdog for its latest ad campaign.
The Advertising Standards Authority said that the company’s national press adverts had “exaggerated significantly” the price savings on the cars advertised and were likely confuse consumers.
The ASA ruled that the adverts were misleading and should be made clearer before being used again.
DATED: 12.12.06
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The Advertising Standards Authority said that the company’s national press adverts had “exaggerated significantly” the price savings on the cars advertised and were likely confuse consumers.
The ASA ruled that the adverts were misleading and should be made clearer before being used again.
DATED: 12.12.06
FEED: MT
Monday, December 11, 2006
Will Insignia replace the Vectra name?
GM EUROPE'S president, Carl-Peter Forster, is reported as saying that the Vectra name will disappear when the replacement arrives in summer 2008.
He said the all-new car would be a radical departure from the current model and that the Vectra name would be dropped to reflect this change.
Insignia seems to be the favourite to replace the Vectra name but GM is making no comment.
Meanwhile, production of the Vectra and the Astra will be cut by about 9% next year as the Vectra begins its run-out and the new Corsa wins sales from the Astra.
DATED: 11.12.06
FEED: AW
He said the all-new car would be a radical departure from the current model and that the Vectra name would be dropped to reflect this change.
Insignia seems to be the favourite to replace the Vectra name but GM is making no comment.
Meanwhile, production of the Vectra and the Astra will be cut by about 9% next year as the Vectra begins its run-out and the new Corsa wins sales from the Astra.
DATED: 11.12.06
FEED: AW
Audi unveils ambitious expansion plans
Audi is to invest around 12bn Euro from 2006 to 2011 as part of a plan that will see its range double to 40 models by 2015.
The lprestige brand said total investment would reach 11.8bn Euro (£8bn) by the end of 2011 with investment averaging 2bn euro a year starting from next year.
Audi currently has a 22-strong model range.
DATED: 11.12.06
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The lprestige brand said total investment would reach 11.8bn Euro (£8bn) by the end of 2011 with investment averaging 2bn euro a year starting from next year.
Audi currently has a 22-strong model range.
DATED: 11.12.06
FEED: MT
Fleet values rise in 2006
Values of three-year-old fleet cars sold at auction during the year to 30 November were £369 higher on average than in the same period last year, according to BCA.
BCA said every month in 2006 outperformed the corresponding month in 2005 with an average sale price for the first 11 months of £6,593. Average fleet prices in November were down £57 to £6,524 compared to October but remained £162 higher than the same month last year.
DATED: 11.12.06
FEED: MT
BCA said every month in 2006 outperformed the corresponding month in 2005 with an average sale price for the first 11 months of £6,593. Average fleet prices in November were down £57 to £6,524 compared to October but remained £162 higher than the same month last year.
DATED: 11.12.06
FEED: MT
Dispute over MG name in Europe
Nanjing Automobile’s plans to sell MG badged cars in Europe may have been thwarted by a dispute over the ownership of the MG name.
According to a report in the Financial Times the administrator of MG Rover Nederland has claimed that the insolvent company still owned several MG trademarks in Europe and Nanjing would need to acquire them before it could use the name.
Nanjing acquired the assets of MG Rover last year following the collapse of the British car maker.
DATED: 11.12.06
FEED: MT
According to a report in the Financial Times the administrator of MG Rover Nederland has claimed that the insolvent company still owned several MG trademarks in Europe and Nanjing would need to acquire them before it could use the name.
Nanjing acquired the assets of MG Rover last year following the collapse of the British car maker.
DATED: 11.12.06
FEED: MT
CVC slashes stake in Halfords
CVC Capital Partners, the private equity firm, has sold £41m worth of shares in Halfords.
Four years after it bought into the business, CVC has sold nearly 5 per cent of its stake, equivalent to 11.6 million shares.
It is the equity firm’s second share sale this year and leaves it with 5.1 million shares.
DATED: 11.12.06
FEED: MT
Four years after it bought into the business, CVC has sold nearly 5 per cent of its stake, equivalent to 11.6 million shares.
It is the equity firm’s second share sale this year and leaves it with 5.1 million shares.
DATED: 11.12.06
FEED: MT
Jaguar voted tops online
Jaguar has taken pole position in a website usability poll, according to research from Trader Media Group.
The big cat’s website received the highest accolade in the research, with nearly 80 per cent of researchers commenting that they would recommend the website to their friends and family.
It was followed by BMW (70 per cent), Toyota (60 per cent) and Land Rover (58 per cent).
DATED: 11.12.06
FEED: MT
The big cat’s website received the highest accolade in the research, with nearly 80 per cent of researchers commenting that they would recommend the website to their friends and family.
It was followed by BMW (70 per cent), Toyota (60 per cent) and Land Rover (58 per cent).
DATED: 11.12.06
FEED: MT
Chrysler boss resigns
Joe Eberhardt, Chrysler Group’s embattled executive vice president of global sales, marketing and service, has resigned from the company.
Falling US sales and problems with over-production had made Eberhardt unpopular with the dealer network and may have contributed to his departure.
He leaves to head up his own Mercedes-Benz dealership. Chrysler Group president and chief executive Tom LaSorda said: “Being back in the retail world is something he has talked about for some time now, and having a proven track record in that arena, makes it a natural move.” Chrysler is yet to name Eberhardt’s successor.
DATED: 11.12.06
FEED: MT
Falling US sales and problems with over-production had made Eberhardt unpopular with the dealer network and may have contributed to his departure.
He leaves to head up his own Mercedes-Benz dealership. Chrysler Group president and chief executive Tom LaSorda said: “Being back in the retail world is something he has talked about for some time now, and having a proven track record in that arena, makes it a natural move.” Chrysler is yet to name Eberhardt’s successor.
DATED: 11.12.06
FEED: MT
Dealers face last chance for VAT claims
Dealers are being urged to put in their claims for overpaid VAT on demonstrators as the door is likely to close for good in 2007.
Campbell Dallas Chartered Accountants warned that while some dealers may have submitted uncapped claims, these could be substantially lower than those made by competitors.
Nigel Roberts, head of VAT, said: “For these dealers, there is now a one-and-for-all opportunity to submit a revised claim and maximise the level of repayment.” Roberts also warned dealers to expect increased attention from VAT inspectors as they seek to recoup some of this tax.
DATED: 11.12.06
FEED: MT
Campbell Dallas Chartered Accountants warned that while some dealers may have submitted uncapped claims, these could be substantially lower than those made by competitors.
Nigel Roberts, head of VAT, said: “For these dealers, there is now a one-and-for-all opportunity to submit a revised claim and maximise the level of repayment.” Roberts also warned dealers to expect increased attention from VAT inspectors as they seek to recoup some of this tax.
DATED: 11.12.06
FEED: MT
