Friday, February 09, 2007
LDV wants solid export base in Europe in 18-months
GAZ-OWNED midlands van-maker, LDV, sees a rich market in Europe for its eye-catching Maxus range.
LDV's objective is to establish 75 European dealers during the next 18-months or so.
At least 12 of those will be appointed in Holland, this year, with 8 more in Belgium and Luxembourg.
DATED: 09.02.07
FEED: AW
LDV's objective is to establish 75 European dealers during the next 18-months or so.
At least 12 of those will be appointed in Holland, this year, with 8 more in Belgium and Luxembourg.
DATED: 09.02.07
FEED: AW
Sklaroff to be new head of
FLA STEPHEN SKLAROFF is to be the new director general of the Finance & Leasing Association.
He joins on May 21 and will replace Martin Hall who retires in the summer after 12-years at the helm.
Sklaroff has been deputy director general of the Association of British Insurers since 2000.
DATED: 09.02.07
FEED: AW
He joins on May 21 and will replace Martin Hall who retires in the summer after 12-years at the helm.
Sklaroff has been deputy director general of the Association of British Insurers since 2000.
DATED: 09.02.07
FEED: AW
Wales and N. Ireland registrations rose in January
FIGURES TODAY from the SMMT show that both Wales and N. Ireland enjoyed increased registrations in January.
Registrations in N. Ireland climbed 9.5% to 8,154 vehicles. Wales showed a similar percentage increase at 8.05% or 6,010 units.
In England, registrations dropped 5.99% (138,759 units) and in Scotland there was a 5% drop (11,313 units) which gave the final UK figure of a 5.39% drop to 164,236 units.
DATED: 09.02.07
FEED: AW
Registrations in N. Ireland climbed 9.5% to 8,154 vehicles. Wales showed a similar percentage increase at 8.05% or 6,010 units.
In England, registrations dropped 5.99% (138,759 units) and in Scotland there was a 5% drop (11,313 units) which gave the final UK figure of a 5.39% drop to 164,236 units.
DATED: 09.02.07
FEED: AW
The Car People extends reach to Sheffield folk
NORTHERN SUPERMARKET Group, The Car People, will locate its third outlet in Sheffield.
And the £10m development will be completed by September this year.
At 10.5-acres it will be larger than either of its existing outlets in Wakefield and Manchester, offering 1,200 cars and immediately creating 70 jobs.
The group said this morning that the anticipated growth of the Sheffield unit will see staff more than double within 2-years.
The development, close to junction 33 off the M1, will provide vehicle preparation, display and storage facilities.
The Car People Group, which is currently promoting its hassle-free customer experience on TV in the north of England, saw sales rise 16% last year, but did not put any numbers to the percentage.
"We are extending our reach throughout the north and will challenge the market in its approach to car retail," promised sales and marketing director, Jonathan Allbones and chief executive, Martyn Carnell
DATED: 09.02.07
FEED: AW
And the £10m development will be completed by September this year.
At 10.5-acres it will be larger than either of its existing outlets in Wakefield and Manchester, offering 1,200 cars and immediately creating 70 jobs.
The group said this morning that the anticipated growth of the Sheffield unit will see staff more than double within 2-years.
The development, close to junction 33 off the M1, will provide vehicle preparation, display and storage facilities.
The Car People Group, which is currently promoting its hassle-free customer experience on TV in the north of England, saw sales rise 16% last year, but did not put any numbers to the percentage.
"We are extending our reach throughout the north and will challenge the market in its approach to car retail," promised sales and marketing director, Jonathan Allbones and chief executive, Martyn Carnell
DATED: 09.02.07
FEED: AW
Peugeot chairman gives managers 100-days
NEW CHAIRMAN of the PSA Peugeot Citroën managing board, Christian Streiff, has prepared his 'to do list' to get the group back on stream.
And he has given 100 senior management 100-days to say how they will meet the challenges.
Growth in Europe has been flat and over the past three years, the Group has lost 1.5 points of market share.
The reasons have been clearly identified. They include the difficulty in managing quality levels at a time of fast growth, an aging model line-up, an increase in competitive pressures and a sharp fall in profitability due to a decline in capacity utilisation, over-staffing and raw materials prices.
DATED: 09.02.07
FEED: AW
And he has given 100 senior management 100-days to say how they will meet the challenges.
Growth in Europe has been flat and over the past three years, the Group has lost 1.5 points of market share.
The reasons have been clearly identified. They include the difficulty in managing quality levels at a time of fast growth, an aging model line-up, an increase in competitive pressures and a sharp fall in profitability due to a decline in capacity utilisation, over-staffing and raw materials prices.
DATED: 09.02.07
FEED: AW
Bank of England Maintains Bank Rate at 5.25%
Thursday, February 08, 2007
Green legislation to force new car price rises
The cost of a new car could rise by as much as £2,500 as car makers attempt to lower carbon emissions from vehicles in accordance with the new European Union recommendations. The SMMT has warned that consumers will be forced to pay higher prices as manufacturers implement new technology that helps produce cleaner vehicles. The trade body said the new directive posed a “huge threat” to employment and the economy.
DATED: 08.02.07
FEED: MT
DATED: 08.02.07
FEED: MT
Less chance of death or injury in 4x4
MPV TRANSPORT RESEARCH Laboratory's report on roadside safety barriers and 4x4s and MPVs has generated welcome news for the beleaguered vehicles.
The authors reviewed National Accident Statistics and DVLA data and conclude that drivers and passengers of 4x4s and MPVs are less likely to be killed or seriously injured than those in other types of car.
DATED: 08.02.07
FEED: AW
The authors reviewed National Accident Statistics and DVLA data and conclude that drivers and passengers of 4x4s and MPVs are less likely to be killed or seriously injured than those in other types of car.
DATED: 08.02.07
FEED: AW
LDV plans to increase Maxus output
VAN-MAKER, LDV, is carrying all before it as it notched-up its strongest January performance for 7-years with the Maxus range.
The midlands manufacturer saw sales of 553 vehicles in the month.
"January sales performance reflects the fact that demand for Maxus van and minibus products has been exceptionally strong in recent months, said sales and marketing director, Tony Lewis.
"We have had to increase our manufacturing line rates three times in the past six months to manage the inflow of customer sold orders."
He said the firm is now producing 235 vehicles per week compared to 150 when GAZ acquired the firm in August, last year.
"With rising demand and the introduction of 10, 12 and 17 seat minibuses in April we are planning to further increase our manufacturing output," he confirmed.
DATED: 08.02.07
FEED: AW
The midlands manufacturer saw sales of 553 vehicles in the month.
"January sales performance reflects the fact that demand for Maxus van and minibus products has been exceptionally strong in recent months, said sales and marketing director, Tony Lewis.
"We have had to increase our manufacturing line rates three times in the past six months to manage the inflow of customer sold orders."
He said the firm is now producing 235 vehicles per week compared to 150 when GAZ acquired the firm in August, last year.
"With rising demand and the introduction of 10, 12 and 17 seat minibuses in April we are planning to further increase our manufacturing output," he confirmed.
DATED: 08.02.07
FEED: AW
Streiff takes-over at PSA Peugeot Citroen
PSA Peugeot Citroën has expanded its managing board from three to five members which could lead to a further changes in the top management.
Christian Streiff takes over as CEO from Jean-Martin Folz who announced his early retirement in November.
The five managing board members, appointed for a 4-year term, are Christian Streiff, Chairman, Frédéric Saint-Geours, Peugeot Marque, Gilles Michel, Citroën Marque, Grégoire Olivier, Programs and Roland Vardanega, Operations.
DATED: 08.02.07
FEED: AW
Christian Streiff takes over as CEO from Jean-Martin Folz who announced his early retirement in November.
The five managing board members, appointed for a 4-year term, are Christian Streiff, Chairman, Frédéric Saint-Geours, Peugeot Marque, Gilles Michel, Citroën Marque, Grégoire Olivier, Programs and Roland Vardanega, Operations.
DATED: 08.02.07
FEED: AW
Used car prices differ by up to 14% across
UK SECOND-HAND cars command a higher asking price in the south east of England than anywhere else.
A new study by EurotaxGlass's of almost 200,000 used cars offered for sale throughout the UK via Auto Trader, has found that the average asking price of a second-hand car in the SE is £10,400. That is 14% more than in the north east, the area with the lowest recorded regional average, at £8,900. The study was carried-out in the final quarter of 2006.
Scotland commanded the second highest average used car price, at £10,000. The third highest ranking region fluctuated during the quarter between the north west, midlands and Wales, with the north west fractionally higher in most weeks. The average in the north west over the period was £9,700 - 7% lower than in the south east.
"Variations in average asking prices can partly be attributed to the uneven distribution of cars by market sector in different parts of the UK," said Adrian Rushmore, managing editor at EurotaxGlass's. "In the north east the proportion of smaller, more affordable vehicles such as superminis represents around 26% of the total in the region - higher than anywhere else in the country. At the other end of the price spectrum, higher-priced luxury saloons, sports cars and convertibles are available in proportionately much greater quantities within the south east."
DATED: 08.02.07
FEED: AW
A new study by EurotaxGlass's of almost 200,000 used cars offered for sale throughout the UK via Auto Trader, has found that the average asking price of a second-hand car in the SE is £10,400. That is 14% more than in the north east, the area with the lowest recorded regional average, at £8,900. The study was carried-out in the final quarter of 2006.
Scotland commanded the second highest average used car price, at £10,000. The third highest ranking region fluctuated during the quarter between the north west, midlands and Wales, with the north west fractionally higher in most weeks. The average in the north west over the period was £9,700 - 7% lower than in the south east.
"Variations in average asking prices can partly be attributed to the uneven distribution of cars by market sector in different parts of the UK," said Adrian Rushmore, managing editor at EurotaxGlass's. "In the north east the proportion of smaller, more affordable vehicles such as superminis represents around 26% of the total in the region - higher than anywhere else in the country. At the other end of the price spectrum, higher-priced luxury saloons, sports cars and convertibles are available in proportionately much greater quantities within the south east."
DATED: 08.02.07
FEED: AW
EC sets emissions target
THE EUROPEAN Commission said that the average new car in the European Union will have to emit no more than130g of carbon per kilometre by the year 2012.
That means a cut from 161g at present if the measures are approved by EU governments. But it is less than the 120g figure which environmentalists were hoping for.
Car-makers fear that stringent emissions enforcement will increase car prices and could cost jobs.
DATED: 08.02.07
FEED: AW
That means a cut from 161g at present if the measures are approved by EU governments. But it is less than the 120g figure which environmentalists were hoping for.
Car-makers fear that stringent emissions enforcement will increase car prices and could cost jobs.
DATED: 08.02.07
FEED: AW
'That's yer lot' fleet company tells auctions
WITH A fleet of 15,000 vehicles, Zenith Vehicle Contracts is testing online disposal as an alternative to auctions.
It has teamed-up with Autoquake and has been selling an average of 50 test cars a month on e-Bay via Autoquake.
So far, the results have been encouraging with sale prices fetching 4% to 5% above what they would have been at a traditional auction.
"In the past, all our cars have gone either direct to auction or have been sold to dealers," said Zenith finance director, Mark Phillips. "But we have been looking for ways to get a share of the retail margin.
DATED: 08.02.07
FEED: AW
It has teamed-up with Autoquake and has been selling an average of 50 test cars a month on e-Bay via Autoquake.
So far, the results have been encouraging with sale prices fetching 4% to 5% above what they would have been at a traditional auction.
"In the past, all our cars have gone either direct to auction or have been sold to dealers," said Zenith finance director, Mark Phillips. "But we have been looking for ways to get a share of the retail margin.
DATED: 08.02.07
FEED: AW
Scottish registrations drop 5%
NEW CAR registrations in Scotland in January dropped 5%, compared with January 2006, to 11313 units. "Not the start we would have liked for 2007 however, the decrease is small and we believe that the market is still strong," said the SMTA.
"There are so many great deals available from all SMTA members we are sure the next few months will show an increase.
DATED: 08.02.07
FEED: AW
"There are so many great deals available from all SMTA members we are sure the next few months will show an increase.
DATED: 08.02.07
FEED: AW
January LCV registrations show marginal increase
JANUARY registrations of LCVs in the UK totalled 21,698 units - a 1.2% increase on January 2005, the SMMT revealed this morning.
Truck registrations, however, show a 23.4% decrease in January, compared with 2005, at 2,945 units.
"Truck registration growth seen during 2005 and 2006 has returned to a more sustainable level, influenced by regulatory changes to truck mirrors and speed limiters, most recently in January," said Christopher Macgowan, SMMT chief executive.
DATED: 08.02.07
FEED: AW
Truck registrations, however, show a 23.4% decrease in January, compared with 2005, at 2,945 units.
"Truck registration growth seen during 2005 and 2006 has returned to a more sustainable level, influenced by regulatory changes to truck mirrors and speed limiters, most recently in January," said Christopher Macgowan, SMMT chief executive.
DATED: 08.02.07
FEED: AW
Business confidence surges despite rates rise
Business confidence in the UK economy surged during January despite the rise in interest rates. Over 50 per cent of companies reported an optimistic outlook about the wider economy during the month compared to a figure of 35 per cent in December. The latest Business Barometer from Lloyds TSB Corporate Markets also found that 62 per cent of businesses expect to increase business activity in the next 12 months, while just 6 per cent anticipate a decline.
DATED: 08.02.07
FEED: MT
DATED: 08.02.07
FEED: MT
Toyota Sales Soar
Toyota has reported a 7.3 per cent rise in profits for the third quarter ended 31 December. The world’s second-largest car maker saw group net profit rise to 426.8bn Yen (£1.83bn). Quarterly sales rose 15.2 per cent to 6.15tr Yen, leaving the Japanese company well placed to overtake General Motors and become the largest car company in the world. Toyota said profit and sales had reached an all time quarterly record.
DATED: 08.02.07
FEED: MT
DATED: 08.02.07
FEED: MT
US investor heads race for Aston Martin
An American investor has moved into pole position to snap up luxury marque Aston Martin. According to The Times, Nelson Peltz is leading the pack of bidders with Ford aiming to pick a preferred bidder by the end of February. Peltz is reported to be one of the most powerful activist investors in the US. Others on the shortlist include property tycoon Simon Halabi and British private equity group Doughty, Hanson and Co. A consortium headed by Australian media mogul James Packer and Magna, the Canadian parts manufacturer, are also in the running.
DATED: 08.02.07
FEED: MT
DATED: 08.02.07
FEED: MT
Change of the guard at EMH
The directors of European Motor Holdings have announced their resignation from the group’s board. CEO Richard Palmer and finance director Ann Wilson have resigned from their posts with immediate effect. At the same time, Inchcape managing director Spencer Lock has been appointed to the board, with Barbara Richmond, Connor McCormack and Katherine Milliken also being appointed as directors of EMH. The deadline for Inchape’s 480-pence-a-share offer for EMH closed 6 February.
DATED: -8.02.07
FEED: MT
DATED: -8.02.07
FEED: MT
Tuesday, February 06, 2007
MG Rover workers struggle to find work
Nearly two years on from the collapse of MG Rover in April 2005, almost a quarter of the car maker’s former workers are still unemployed. According to a survey by the Amicus union, 23 per cent of its members were still looking for work or on a training scheme. A further 11 per cent had retired or given up work. Of those who had found work, 20 per cent were on the minimum wage, while less than half of those with jobs were still working in the manufacturing sector.
DATED: 06.02.07
FEED: MT
DATED: 06.02.07
FEED: MT
Yes Car's outstanding loans up for auction
DRESDNER Kleinwort is running an auction of the outstanding loans on Yes Car Credit.
Provident Financial closed Yes Car more than a year ago.
It is estimated that Provident is still owed around £100m by consumers who bought cars through Yes Car. It was closed after heavy losses.
The group is also auctioning off its motor insurance business. The insurance division, which specialises in providing cover to women and older drivers, is expected to fetch around £200m.
DATED: 06.02.07
FEED: AW
Provident Financial closed Yes Car more than a year ago.
It is estimated that Provident is still owed around £100m by consumers who bought cars through Yes Car. It was closed after heavy losses.
The group is also auctioning off its motor insurance business. The insurance division, which specialises in providing cover to women and older drivers, is expected to fetch around £200m.
DATED: 06.02.07
FEED: AW
Hyundai head given 3-years jail for embezzlement
HYUNDAI CHAIRMAN, Chung Mong-koo, has been found guilty of embezzlement and other charges and sentenced to three years in jail.
Chung was charged with embezzling WON 69.3bn in order to bribe politicians and officials. He was also accused of causing WON 210bn in losses to the company.
DATED: 06.02.07
FEED: AW
Chung was charged with embezzling WON 69.3bn in order to bribe politicians and officials. He was also accused of causing WON 210bn in losses to the company.
DATED: 06.02.07
FEED: AW
Jaguar's US dealer boss critical of UK management
THE RUMOURS surrounding Jaguar's future within Ford has affected sales in the USA.
Ken Gorin, a Jaguar dealer and head of the British brand's Business Operations Council, says the uncertainty must have had an affect.
DATED: 06.02.07
FEED: AW
Ken Gorin, a Jaguar dealer and head of the British brand's Business Operations Council, says the uncertainty must have had an affect.
DATED: 06.02.07
FEED: AW
AA Warranty Gap
GIBRALTAR-based insurer, Zenith Insurance Plc, is to underwrite GAP Insurance for AA Warranty. The GAP insurance will be sold initially to AA Warranty customers and through dealerships exclusively under the AA Warranty brand
DATED: 06.02.07
FEED: AW
DATED: 06.02.07
FEED: AW
ANY QUESTIONS? Nanjing puts itself online
ENGLISH REPRESENTATIVES of Nanjing Automobile Corporation are to make themselves available for an online, 'Any Questions' session with MG enthusiasts.
The discussion will commence at 1100hrs on Thursday 8th February on www.MG-Rover.org - the world's largest MG & Rover enthusiasts' website.
Fielding questions from enthusiasts worldwide will be NAC's Stephen Cox in the United Kingdom and Paul Stowe in China.
Stowe is quality director with NAC in China, whilst Cox is Longbridge-based and responsible for sales and franchising within the United Kingdom, European Union and other selected MG markets, which will be serviced from NAC's UK base at Longbridge.
DATED: 06.02.07
FEED: AW
The discussion will commence at 1100hrs on Thursday 8th February on www.MG-Rover.org - the world's largest MG & Rover enthusiasts' website.
Fielding questions from enthusiasts worldwide will be NAC's Stephen Cox in the United Kingdom and Paul Stowe in China.
Stowe is quality director with NAC in China, whilst Cox is Longbridge-based and responsible for sales and franchising within the United Kingdom, European Union and other selected MG markets, which will be serviced from NAC's UK base at Longbridge.
DATED: 06.02.07
FEED: AW
Nissan warns of full-year profit decline
NISSAN CHIEF executive, Carlos Ghosn, reported that the car-maker needed additional action plans to meet mid-term goals.
Nissan reported a 23% slide in quarterly net profit for the October to December quarter. It blamed a sluggish recovery in US sales.
DATED: 06.02.07
FEED: AW
Nissan reported a 23% slide in quarterly net profit for the October to December quarter. It blamed a sluggish recovery in US sales.
DATED: 06.02.07
FEED: AW
New Kia MD to work with dealers to hit 100k mark
NEW MANAGING director of Kia UK, Paul Philpot (40) is determined that the Korean brand will become 'a desirable volume brand in the UK.
"I am looking forward to working with the team at Kia and its dealer network to achieve strong sales growth with profit over the coming years," he said.
Having joined Kia after 9-years at Toyota GB he describes his new job as 'a fantastic and exciting opportunity'.
DATED: 06.02.07
FEED: AW
"I am looking forward to working with the team at Kia and its dealer network to achieve strong sales growth with profit over the coming years," he said.
Having joined Kia after 9-years at Toyota GB he describes his new job as 'a fantastic and exciting opportunity'.
DATED: 06.02.07
FEED: AW
Bank rate biting according to auctioneers
BCA is seeing evidence that the recent Bank Base Rate increase has contributed to a softening of demand.
"Consumers are cautious and the market is accurately reflecting this reality," said sales director, Mark Hankey.
"Franchised and non-franchised retailers are telling us that retail demand is respectable, but not as strong as expected nor as strong as the same period last year. This means good quality stock is more likely to sell first time for higher prices, while poor quality stock will be picked over and bid what it is worth or left alone."
DATED: 06.02.07
FEED: AW
"Consumers are cautious and the market is accurately reflecting this reality," said sales director, Mark Hankey.
"Franchised and non-franchised retailers are telling us that retail demand is respectable, but not as strong as expected nor as strong as the same period last year. This means good quality stock is more likely to sell first time for higher prices, while poor quality stock will be picked over and bid what it is worth or left alone."
DATED: 06.02.07
FEED: AW
