Friday, March 23, 2007
European Carmakers Profitability down
European carmakers’ struggle for profitability will worsen this year.
New car market is flooded
A report by Standards & Poor’s, the credit rating agency, reveals that saturated demand for new cars and production overcapacity will see profitability levels stagnate.
Margins will remain at between 1 to 3 per cent - equivalent to less than £340 profit per vehicle for most volume manufacturers - with no signs of improvement.
DATED: 23.03.07
FEED: MT
New car market is flooded
A report by Standards & Poor’s, the credit rating agency, reveals that saturated demand for new cars and production overcapacity will see profitability levels stagnate.
Margins will remain at between 1 to 3 per cent - equivalent to less than £340 profit per vehicle for most volume manufacturers - with no signs of improvement.
DATED: 23.03.07
FEED: MT
SAAB Criticises Budget
Saab has criticised the government for not doing more to aid the development of biofuels in Wednesday’s (21 March) budget.
Nash: UK is falling behind Europe
UK managing director Jonathan Nash said he was disappointed the revised Vehicle Excise Duty ignored the contribution that biofuel-powered cars could make to reducing emissions.
“My fear is that the UK continues to fall behind other European countries where a more generous package of incentives is encouraging consumers to embrace this technology now,” said Nash.
Vehicles that run on bioethanol typically reduce CO2 emissions by 50-70 per cent.
DATED: 23.03.07
FEED: MT
Nash: UK is falling behind Europe
UK managing director Jonathan Nash said he was disappointed the revised Vehicle Excise Duty ignored the contribution that biofuel-powered cars could make to reducing emissions.
“My fear is that the UK continues to fall behind other European countries where a more generous package of incentives is encouraging consumers to embrace this technology now,” said Nash.
Vehicles that run on bioethanol typically reduce CO2 emissions by 50-70 per cent.
DATED: 23.03.07
FEED: MT
BMW announce Used Car sales Programme
BMW aims to increase used car sales volumes across its network with a new dealer incentive programme which will reward dealers with bonuses for each unit they sell.
Used car sales scheme
The bonus package will see dealers rewarded with £300 on sales of cars up to two years old and £600 for older models.
According to Jim O'Donnell, UK managing director, the initiative will transform the fortunes of many sites in the 158-strong UK network.
He claimed the used car scheme will give BMW an advantage over its key rivals in the prestige sector.
DATED: 23.0307
FEED: MT
Used car sales scheme
The bonus package will see dealers rewarded with £300 on sales of cars up to two years old and £600 for older models.
According to Jim O'Donnell, UK managing director, the initiative will transform the fortunes of many sites in the 158-strong UK network.
He claimed the used car scheme will give BMW an advantage over its key rivals in the prestige sector.
DATED: 23.0307
FEED: MT
JD Power predicts market revival
New car sales are set to bounce back before the end of the decade after bottoming out next year.
Analysts predict an upturn
Volumes will continue their decline – dropping to a low of 2.29 million units in 2008 – then rally to reach 2.34 million a year later.
The prediction is based on JD Power Automotive Volumes, which analyses future car retailing trends.
DATED: 23.03.07
FEED: MT
Analysts predict an upturn
Volumes will continue their decline – dropping to a low of 2.29 million units in 2008 – then rally to reach 2.34 million a year later.
The prediction is based on JD Power Automotive Volumes, which analyses future car retailing trends.
DATED: 23.03.07
FEED: MT
Dodge unveils first SUV
Dodge has unveiled its first SUV for the UK market just as Gordon Brown was announcing sharp tax hikes for high emission vehicles.
Nitro: Hits UK showrooms in June
the Nitro as a tough, macho, 4x4 vehicle that will appeal to “streetwise” urban buyers.
DATED: 23.03.07
FEED: MT
Nitro: Hits UK showrooms in June
the Nitro as a tough, macho, 4x4 vehicle that will appeal to “streetwise” urban buyers.
DATED: 23.03.07
FEED: MT
Carshock, the north east car supermarket chain, has closed.
Carshock, the north east car supermarket chain, has closed.
Carshock operated seven sites
Administrators BDO Stoy Hayward said that following a review it concluded it was necessary to fold the business immediately.
Fifty employees across seven sites have been made redundant.
DATED: 23.03.07
FEED: MT
Carshock operated seven sites
Administrators BDO Stoy Hayward said that following a review it concluded it was necessary to fold the business immediately.
Fifty employees across seven sites have been made redundant.
DATED: 23.03.07
FEED: MT
Thursday, March 22, 2007
Two more car supermarkets planned for NE
NEWCASTLE-BASED, Henson Motor Group, is planning to open two new car supermarkets before the end of the year.
The news comes as budget motor trader, Carshock, with seven branches in the area, collapsed earlier this month.
Henson, which has a 2.5-acre site on Whitley Road, Benton, plans to open a site near the Tyne Tunnel, North Tyneside, and another on Teesside.
The North Tyneside outlet, which will have room for 100-plus cars and will create 20 jobs, will open within the next 3-months.
The larger, 300-car Teesside site, is planned to be operating before the year-end. Another 40 positions will be created at the site.
Joint managing director, David Wilson said the company has been working on this expansion for the last two and a half years.
"We haven't just said `let's go big' overnight. Every single motor trader that has been and gone has done so because they want overnight success and it doesn't work that way."
DATED: 22.03.07
FEED: AW
The news comes as budget motor trader, Carshock, with seven branches in the area, collapsed earlier this month.
Henson, which has a 2.5-acre site on Whitley Road, Benton, plans to open a site near the Tyne Tunnel, North Tyneside, and another on Teesside.
The North Tyneside outlet, which will have room for 100-plus cars and will create 20 jobs, will open within the next 3-months.
The larger, 300-car Teesside site, is planned to be operating before the year-end. Another 40 positions will be created at the site.
Joint managing director, David Wilson said the company has been working on this expansion for the last two and a half years.
"We haven't just said `let's go big' overnight. Every single motor trader that has been and gone has done so because they want overnight success and it doesn't work that way."
DATED: 22.03.07
FEED: AW
Alfa to rid itself of 'worst dealer network' tag
HAVING CUT its UK dealership network by 60% since last year, Alfa Romeo is planning to increase dealer numbers to 50 by the beginning of next year.
The emphasis for new and existing dealers will be focused on the whole customer experience with dealer bonuses linked to customer satisfaction. Dealers are also being given mandatory parts stocking levels and told to have more courtesy cars available.
"We will never again be accused of having the worst dealer network in Britain," said UK managing director.
DATED: 22.03.07
FEED: AW
The emphasis for new and existing dealers will be focused on the whole customer experience with dealer bonuses linked to customer satisfaction. Dealers are also being given mandatory parts stocking levels and told to have more courtesy cars available.
"We will never again be accused of having the worst dealer network in Britain," said UK managing director.
DATED: 22.03.07
FEED: AW
LDV prepares new Maxus vehicles for CV Show
RUSSIAN-OWNED, LDV, is launching a new Maxus chassis cab range at next month's Commercial Vehicle Show (See Events).
The range, which includes tippers, dropsides, Lutons and boxes, will go on sale later this year.
LDV's stand will show a short wheel base dropside and a long wheel base tipper.
"This is by far our most comprehensive display of Maxus vehicles," said marketing director, Steve Miller "We will be showing vehicles never seen before.
"The commercial vehicle show is always a home-coming for LDV and we're sure we won't disappoint visitors this year."
DATED: 22.03.07
FEED: AW
The range, which includes tippers, dropsides, Lutons and boxes, will go on sale later this year.
LDV's stand will show a short wheel base dropside and a long wheel base tipper.
"This is by far our most comprehensive display of Maxus vehicles," said marketing director, Steve Miller "We will be showing vehicles never seen before.
"The commercial vehicle show is always a home-coming for LDV and we're sure we won't disappoint visitors this year."
DATED: 22.03.07
FEED: AW
BUDGET: Duty on polluting cars to reach £400 by 08
CHANCELLOR, Gordon Brown, today, raised taxes on the most polluting cars in the UK as part of his budget.
The chancellor said that the excise duty on heavily polluting vehicles would rise to £300 pounds from £210 on 22March this year. The duty will be raised again in 2008 to £400.
The duty on environmentally friendly cars, such as the hybrid Toyota Prius, was frozen at £30.
The rates for graduated bands C-E, cars registered before 2001 and all light goods vehicles, will be raised by £5 in each of the next three years. The rates for graduated band F will rise by £10 in 2007-08, then £5 in each of the subsequent two years.
Petrol
Petrol duty has been raised in line with inflation for the second time in three months.
Gordon Brown said that petrol duty would rise by 2 pence per litre from October followed by another 2 pence in 2008 and 1.8 pence in 2009.
Brown raised fuel duty by 1.25 pence per litre in his pre-budget report in December ending a freeze that first came into effect on October 1, 2003.
Biofuels
The chancellor outlined an objective for Britain to have the lowest carbon cars using the least polluting fuels.
"I am extending to 2010 the biofuels duty differential worth 20p per litre, a fuel duty discount of 40% and I am also extending to 2012 the biogas incentive worth 40p per litre, a discount on fuel duty of over 80%," he announced.
The government will maintain the Compressed Natural Gas differential with main fuel duty rates in 2009-10, and will decrease the Liquefied Petroleum Gas differential by a further 1 pence per litre, in line with the Alternative Fuels Framework. Changes will be made to both rates in 2007-08 and 2008-09 in line with previous Budget commitments.
Chancellor, Gordon Brown, sprang a Budget surprise by cutting 2p off the basic rate of income tax, saying that the basic rate would be reduced from 22p in the pound to 20p from April next year.
DATED: 22.03.07
FEED: AW
The chancellor said that the excise duty on heavily polluting vehicles would rise to £300 pounds from £210 on 22March this year. The duty will be raised again in 2008 to £400.
The duty on environmentally friendly cars, such as the hybrid Toyota Prius, was frozen at £30.
The rates for graduated bands C-E, cars registered before 2001 and all light goods vehicles, will be raised by £5 in each of the next three years. The rates for graduated band F will rise by £10 in 2007-08, then £5 in each of the subsequent two years.
Petrol
Petrol duty has been raised in line with inflation for the second time in three months.
Gordon Brown said that petrol duty would rise by 2 pence per litre from October followed by another 2 pence in 2008 and 1.8 pence in 2009.
Brown raised fuel duty by 1.25 pence per litre in his pre-budget report in December ending a freeze that first came into effect on October 1, 2003.
Biofuels
The chancellor outlined an objective for Britain to have the lowest carbon cars using the least polluting fuels.
"I am extending to 2010 the biofuels duty differential worth 20p per litre, a fuel duty discount of 40% and I am also extending to 2012 the biogas incentive worth 40p per litre, a discount on fuel duty of over 80%," he announced.
The government will maintain the Compressed Natural Gas differential with main fuel duty rates in 2009-10, and will decrease the Liquefied Petroleum Gas differential by a further 1 pence per litre, in line with the Alternative Fuels Framework. Changes will be made to both rates in 2007-08 and 2008-09 in line with previous Budget commitments.
Chancellor, Gordon Brown, sprang a Budget surprise by cutting 2p off the basic rate of income tax, saying that the basic rate would be reduced from 22p in the pound to 20p from April next year.
DATED: 22.03.07
FEED: AW
Caffyns receives £2.9m Vat rebate - temporarily
SOUTH COAST retailer, Caffyns, has received a £2.978m rebate from HM Revenue & Customs - but it is the subject of an appeal by HM Revenue.
The rebate is in respect of a claim made as a result of the Marks & Spencer European Court case, relating to VAT overpaid on demonstrator vehicle bonuses in the period 1973 to 1997.
DATED: 22.03.07
FEED: AW
The rebate is in respect of a claim made as a result of the Marks & Spencer European Court case, relating to VAT overpaid on demonstrator vehicle bonuses in the period 1973 to 1997.
DATED: 22.03.07
FEED: AW
Unions talk tough over next generation Astra
KLAUS FRANZ, head of GM Europe's labour council, has given the Ellesmere Port Vauxhall plant in the UK a morale booster.
As GM Europe decides, this year, where to build the next generation Astra, Franz said: "We are not going to accept a second closure with buyouts like Azambuja. Never."
Last year, GM closed its Portuguese plant Azambuja which, apart from one-off items made a profit for the first time in 8-years.
DATED: 22.03.07
FEED: AW
As GM Europe decides, this year, where to build the next generation Astra, Franz said: "We are not going to accept a second closure with buyouts like Azambuja. Never."
Last year, GM closed its Portuguese plant Azambuja which, apart from one-off items made a profit for the first time in 8-years.
DATED: 22.03.07
FEED: AW
Lookers refuses to be drawn on Inchcape outlets
LOOKERS, yesterday, refused to confirm or deny that it was in the market to buy some or all of the 47 motor dealerships put up for sale by Inchape.
"Our standard reply to all such questions is that we consider all opportunities," said finance director, David Dyson.
Last week, chief executive, Ken Surgenor, said the company would have plenty of firepower should the right opportunity come along. His comments came after the Manchester-based group announced pre-tax profits for 2006 of £26.4m - 47% higher.
DATED: 22.03.07
FEED: AW
"Our standard reply to all such questions is that we consider all opportunities," said finance director, David Dyson.
Last week, chief executive, Ken Surgenor, said the company would have plenty of firepower should the right opportunity come along. His comments came after the Manchester-based group announced pre-tax profits for 2006 of £26.4m - 47% higher.
DATED: 22.03.07
FEED: AW
EurotaxGlass' owners pull-out of Auto Trader bid
CANDOVER, the venture capital group and owner of EurotaxGlass', has pulled out of the race to buy into Auto Trader.
The Times says that final bids for a near half-share in the £1bn-rated Auto Trader operation (part of Guardian Media Group) are due today.
Candover believes the Auto Trader empire is now too expensive to be worth chasing, the newspaper said.
CVC, Apax and Blackstone are said to be still in contention.
DATED: 22.03.07
FEED: AW
The Times says that final bids for a near half-share in the £1bn-rated Auto Trader operation (part of Guardian Media Group) are due today.
Candover believes the Auto Trader empire is now too expensive to be worth chasing, the newspaper said.
CVC, Apax and Blackstone are said to be still in contention.
DATED: 22.03.07
FEED: AW
New owners will redevelop Peugeot's Ryton site
LONDON-BASED Trenport Investments Ltd has exchanged contracts for the purchase of the 140-acre Ryton site from PSA Peugeot Citroën.
The new owner said it intends to develop the land to provide several hundred jobs and to achieve diverse business opportunities in the future that will bring more employment and wide-ranging economic benefits to the area. "We expect to commence this process immediately upon completion of the purchase on 16 April," said managing director, Tony Parson.
DATED: 22.03.07
FEED: AW
The new owner said it intends to develop the land to provide several hundred jobs and to achieve diverse business opportunities in the future that will bring more employment and wide-ranging economic benefits to the area. "We expect to commence this process immediately upon completion of the purchase on 16 April," said managing director, Tony Parson.
DATED: 22.03.07
FEED: AW
Former Nissan sales director moves-up in Europe
FORMER NISSAN UK sales director, Simon Thomas (46) is to take-over as Nissan Europe's vice president of sales operations from next month.
He is currently vice president for sales and marketing for the Nissan and Infiniti brands at Nissan Canada.
He joined Nissan's UK subsidiary 15 years ago and became marketing director in 2000 and then sales director in 2003. Before that, he worked for the Rover group.
DATED: 22.03.07
FEED: AW
He is currently vice president for sales and marketing for the Nissan and Infiniti brands at Nissan Canada.
He joined Nissan's UK subsidiary 15 years ago and became marketing director in 2000 and then sales director in 2003. Before that, he worked for the Rover group.
DATED: 22.03.07
FEED: AW
UK Honda dealers to sell Chinese-built Jazz
UK HONDA dealers will be the first to start selling Chinese-built cars in Britain.
Around 16,000 right-hand-drive Jazz models, built in the Guangzhou Honda Automobile plant, will be coming to these shores during 2007, AutoWired has learned. Last year, Honda sold more than 30,000 Jazz cars in the UK, all imported from Japan.
DATED: 22.03.07
FEED: AW
Around 16,000 right-hand-drive Jazz models, built in the Guangzhou Honda Automobile plant, will be coming to these shores during 2007, AutoWired has learned. Last year, Honda sold more than 30,000 Jazz cars in the UK, all imported from Japan.
DATED: 22.03.07
FEED: AW
