Thursday, March 08, 2007
Ford closes in on Aston Martin sale
Ford is reportedly close to selling Aston Martin after identifying the consortium headed by motor racing company Pro Drive as its preferred bidder. Ford values the luxury marque at up to £500m and it is understood the British-based consortium is close to matching the US carmaker’s valuation. Pro Drive is set to become Formula 1’s 12th racing team next season and already runs Aston Martin’s sports car racing programme, which may have swayed Ford’s decision.
DATED: 08.03.07
FEED: MT
DATED: 08.03.07
FEED: MT
Oil burner to drive up Subaru sales
08 Mar 2007
Subaru expects the introduction of a diesel model to its range to help drive up UK sales to 15,000 annually by 2010. Lawrance Good, who became Subaru’s executive director of sales and marketing last month, said the Boxer turbo diesel unit would be launched in the Legacy and Outback models early next year before being rolled out throughout the line-up. He expects the brand to add 10 more dealerships to its 85-strong network to cope with the extra volume. Subaru sold 7,200 new cars in the UK last year.
DATED: 08.03.07
FEED: MT
Subaru expects the introduction of a diesel model to its range to help drive up UK sales to 15,000 annually by 2010. Lawrance Good, who became Subaru’s executive director of sales and marketing last month, said the Boxer turbo diesel unit would be launched in the Legacy and Outback models early next year before being rolled out throughout the line-up. He expects the brand to add 10 more dealerships to its 85-strong network to cope with the extra volume. Subaru sold 7,200 new cars in the UK last year.
DATED: 08.03.07
FEED: MT
Used car buyers shun expensive optional extras
Expensive optional extras that are available with prestige cars are failing to entice used car consumers, EurotaxGlass’s has warned. Options such as radio-controlled cruise control and premium audio systems are retaining only a fraction of their original list price on the second-hand car market. “These hi-tech options play an important role in seducing buyers of new cars but weak residual values suggests that used car buyers remain unconvinced,” said Richard Crosthwaite, prestige car editor.
DATED: 08.03.07
FEED: MT
DATED: 08.03.07
FEED: MT
New Corsa makes fine debut in Used Car market
GM and BCA combined to launch the New Corsa into the used car market in a special invitation sale staged at BCA Nottingham, last week.
Over 80 registered buyers attended with a further 22 online. They were bidding on 173 vehicles from across the Vauxhall range with 10 New Corsas and 4 New Astra vans taking pride of place.
DATED: 08.03.07
FEED: AW
Over 80 registered buyers attended with a further 22 online. They were bidding on 173 vehicles from across the Vauxhall range with 10 New Corsas and 4 New Astra vans taking pride of place.
DATED: 08.03.07
FEED: AW
Brilliance checks-in to Europe, but no RHD version
ALTHOUGH Chinese car-maker, Brilliance, plans to sell 15,000 cars in Europe this year, it will have to do it without the help of the UK.
Right-hand drive production of the cars is not scheduled until after 2010.
DATED: 08.03.07
FEED: AW
Right-hand drive production of the cars is not scheduled until after 2010.
DATED: 08.03.07
FEED: AW
Wednesday, March 07, 2007
Car Shop Megastore closes in Manchester
The Car Shop Megastore Manchester closed today.
Directors were on site refusing entry to Customers and Visitors
Security Guards posted at gates were telling visitors that the business had ceased
trading and contact would be made regarding all exisitng orders in due course
from another Car Shop location.
DATED: 07.03.07
FEED: AT
Directors were on site refusing entry to Customers and Visitors
Security Guards posted at gates were telling visitors that the business had ceased
trading and contact would be made regarding all exisitng orders in due course
from another Car Shop location.
DATED: 07.03.07
FEED: AT
Cherished plate transfers to be simplified
Buying and keeping a cherished number plate for a vehicle could soon be made easier and safer for consumers and dealers. A bill which aims to simplify the process and provide more protection is currently passing through Parliament. Along with the Cherished Number Dealers Association - part of the RMIF – the bill also has support from government and the DVLA. MP Richard Ottaway, who presented the bill, said: “These changes would give consumers more confidence in the process, and allow dealers to reassure their customers.” The bill gets its second reading on 23 March 2007.
DATED: 07.03.07
FEED: MT
DATED: 07.03.07
FEED: MT
Car supermarket announces expansion plans
Car Shop Megastore has announced expansion plans that will see the car supermarket firm double in size by the end of 2008. The company already operates sites in Manchester, Cardiff and Northampton and will soon open an additional site in Swindon. Car Shop Megastore claimed the Swindon branch would be the biggest indoor car showroom in the country at 123,000sqft.
DATED: 07.03.07
FEED: MT
DATED: 07.03.07
FEED: MT
Carshock problems leaves charity all at sea
PLANS BY the Hartlepool charity, the Mission For Seafarers, to buy a people carrier, have been sunk by the troubles at Carshock supermarket group.
The small charity spent 2-years raising £16,500 in order to buy the vehicle but, along with several hundred other Carshock customers, is now wondering if it will get its money back as the supermarket group is unable to fulfil orders.
DATED: 07.03.07
FEED: AW
The small charity spent 2-years raising £16,500 in order to buy the vehicle but, along with several hundred other Carshock customers, is now wondering if it will get its money back as the supermarket group is unable to fulfil orders.
DATED: 07.03.07
FEED: AW
Administrators appointed at Carshock
BDO STOY Hayward has been appointed joint administrators at the Carshock supermarket group.
Toby Underwood, business restructuring partner at BDO Stoy Hayward, said it was carrying out an immediate business review of the company.
"Over recent years, the motor vehicle sector has become increasingly competitive and, as a result, margins have tightened which has a knock-on effect on companies like Carshock.
A total of 50 staff have been made redundant and stock from the seven sites across the North towed away.
DATED: 07.03.07
FEED: AW
Toby Underwood, business restructuring partner at BDO Stoy Hayward, said it was carrying out an immediate business review of the company.
"Over recent years, the motor vehicle sector has become increasingly competitive and, as a result, margins have tightened which has a knock-on effect on companies like Carshock.
A total of 50 staff have been made redundant and stock from the seven sites across the North towed away.
DATED: 07.03.07
FEED: AW
Private car buyers were missing in February
WHILST THE February market in the UK declined 3.2%, year-to-date, registrations are still showing a 2.5% increase over this time in 2006.
Private sales in February declined 8.7% to 24,238 and business sales plummeted 20% to just 3,178 units. Fleet sales held-up at 46,170 a modest 1.5% increase.
DATED: 07.03.07
FEED: AW
Private sales in February declined 8.7% to 24,238 and business sales plummeted 20% to just 3,178 units. Fleet sales held-up at 46,170 a modest 1.5% increase.
DATED: 07.03.07
FEED: AW
Tuesday, March 06, 2007
British businesses confident of buoyant year
British Businesses are confident about their prospects for growth in the upcoming year, according to the latest Business Barometer from Lloyds TSB Corporate Markets. Over two-thirds of the companies surveyed said they believed their business activity would rise during the next twelve months. "UK businesses have good reason to be optimistic. Over the coming year we can expect to see the economy gaining strength, with the possibility that GDP could rise by around three per cent," Trevor Williams, chief economist, Lloyds TSB Corporate Markets, said.
DATED: 06.03.07
FEED: MT
DATED: 06.03.07
FEED: MT
Subaru Secures Fleet Deal
Subaru UK has secured a multi-million pound fleet deal with car insurance firm the Helphire Group. The £2m contract - Subaru’s biggest ever - will see Helphire take on 50 Legacy, Tourer and Outback models, which will be hired through the group’s network of 28 UK locations across the country. Subaru said that at showroom prices the 50 models would normally retail at £2.15m
DATED: 06.03.07
FEED: MT
DATED: 06.03.07
FEED: MT
PSA drops alliance talks with Proton
PSA Peugeot Citroen has terminated discussions with Proton over a possible cooperative venture. The talks, which began in September last year, focused on co-producing Peugeot and Citroen cars in Malaysia with a view to it serving as a production base for the brands’ sales operations in the south east Asian region. PSA said an in-depth study of the market concluded that the project would not be successful.
DATED: 06.03.07
FEED: MT
DATED: 06.03.07
FEED: MT
Blackstone looks over Chrysler's books
DaimlerChrysler has been approached by the world’s biggest buyout firm with a possible £13.6bn bid. According to reports, Blackstone, which has just acquired the owner of Madame Tussauds for £1bn, has been allowed access to the Chrysler books and is now believed to be mulling over a multi-million pound approach for the ailing carmaker. Cerberus, the hedge fund, is also thought to be in the running and General Motors is continuing the takeover talks it began in December.
DATED: 06.03.07
FEED: MT
DATED: 06.03.07
FEED: MT
Perrys acquires four Vauxhall sites
Perrys has expanded its footprint in Lancashire with the acquisition of four new Vauxhall dealerships. The deal will see sites in Bury, Burnley, Colne and Clitheroe transfer from the Vantage Group for an undisclosed sum. Perrys now operates 14 Vauxhall dealerships making it one of the largest Vauxhall dealer groups in the country. All 125 staff will be retained
DATED: 06.03.07
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DATED: 06.03.07
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Inchcape announces major overhaul
Inchcape Retail is to dispose of up to 47 sites across the UK and its logistics arm as it looks to focus on the premium segment. Inchcape said it planned to dispose of non core franchises, including luxury brands Bentley, Ferrari, Maserati as well as volume franchises like Renault, Vauxhall, Ford and Kia. The group also plans to shed its Inchcape Automotive UK operation. The announcement came as the UK’s second largest dealer group produced a strong set of preliminary results, achieving an 11.7 per cent growth in sales to £1.7bn for the year ended 31 December 2006. The group delivered trading profit improvement of 57 per cent to £45.9m – a record level for the group.
DATED: 06.03.07
FEED: MT
DATED: 06.03.07
FEED: MT
