Saturday, June 16, 2007
Nanjing to revive Healey and Austin Healey brands
MG owner signs agreement with Healey family
MG owner Nanjing has signed a collaborative agreement with the Healey family over developing the Healey and Austin Healey brands.
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A sportscar with these names won't appear in the short term but in a press statement the partners promised new models would be built.
Such products could slot in above Nanjing's MG-branded models.
The move brings to an end years of speculation over the Healey name's future.
DATED: 16.06.07
FEED: MT
FLA launches dealer competence test
The Finance and Leasing Association have launched a free dealer staff competence test to help them sell finance products responsibly.
“We believe that this competence test for dealership staff will increase consumer confidence in the quality of information and advice they get on motor finance,” said FLA director general Martin Hall.
He suggested that the test would benefit finance houses, dealers and car buyers.
“We hope that dealers and their sales staff will really go for it,” he added.
Jointly developed with dealers and representatives of the RMIF in an FLA working group, the test was launched at the recent Autoretailing conference.
It is being used to launch an FLA campaign to raise consumer awareness of the range of finance products offered by the motor trade, and is intended to encourage professionalism and consumer confidence and identify staff training needs.
DATED: 16.06.07
FEED: MT
Poor awareness leads Chevy to the Tele for Captiva
CHEVROLET dealers in the UK will take heart from the car-maker's decision to advertise the forthcoming new Captiva SUV on TV this summer.
When Chevrolet changed from Daewoo in 2005, 92% of people had heard of Chevrolet, even though their knowledge was predominantly centred around big American cars or song lyrics like 'Chevy to the Levy'.
Current research, however, shows a different story. "We find that 72% of UK buyers do not know about us," said UK managing director Rory Harvey at the recent launch of the Captiva to the press.
DATED: 16.06.07
FEED: AW
When Chevrolet changed from Daewoo in 2005, 92% of people had heard of Chevrolet, even though their knowledge was predominantly centred around big American cars or song lyrics like 'Chevy to the Levy'.
Current research, however, shows a different story. "We find that 72% of UK buyers do not know about us," said UK managing director Rory Harvey at the recent launch of the Captiva to the press.
DATED: 16.06.07
FEED: AW
Renault could sell company-owned French dealers
RENAULT is considering selling part of its wholly-owned chain of dealers in France because of disappointing margins.
It looks like a decision will be announced next week after a works council meeting.
A spokeswoman for Renault France said there is 'a programme' but could not comment further.
DATED: 16.06.07
FEED: AW
It looks like a decision will be announced next week after a works council meeting.
A spokeswoman for Renault France said there is 'a programme' but could not comment further.
DATED: 16.06.07
FEED: AW
RMIF tells gov't: "Don't forget the retailers"
The response by the government to the Trade and Industry Select Committee's report into UK car manufacturing has upset dealer body, the RMIF.
The Committee's report published earlier this year had said there were particular reasons why Longbridge and Ryton had closed and for the loss of the third shift at Ellesmere Port, but added that the problems experienced by these plants were not unique to these plants or their parent companies.
It was, therefore, all the more important that both the industry and government put extra effort into improving skill sets throughout the sector, increasing the commitment to R&D, adopting lean manufacturing techniques and strengthening the local supply chain.
The government agrees with the Committee that the challenges faced by the UK automotive industry in maintaining global competitiveness are around skills, business processes, the efficiency of the supply chain and constant investment in R&D.
DATED: 16.06.07
FEED: AW
The Committee's report published earlier this year had said there were particular reasons why Longbridge and Ryton had closed and for the loss of the third shift at Ellesmere Port, but added that the problems experienced by these plants were not unique to these plants or their parent companies.
It was, therefore, all the more important that both the industry and government put extra effort into improving skill sets throughout the sector, increasing the commitment to R&D, adopting lean manufacturing techniques and strengthening the local supply chain.
The government agrees with the Committee that the challenges faced by the UK automotive industry in maintaining global competitiveness are around skills, business processes, the efficiency of the supply chain and constant investment in R&D.
DATED: 16.06.07
FEED: AW
Lookers
Lookers
DEUTSCHE BANK AG has renewed its interest in Lookers. It purchased 5,600,797 ordinary shares, yesterday, representing approximately 3.11% of the total voting rights. Deutsche Bank sold its previous holding in February.
DATED: 16.06.07
FEED: AW
DEUTSCHE BANK AG has renewed its interest in Lookers. It purchased 5,600,797 ordinary shares, yesterday, representing approximately 3.11% of the total voting rights. Deutsche Bank sold its previous holding in February.
DATED: 16.06.07
FEED: AW
ACCIDENT EXCHANGE
ACCIDENT EXCHANGE has entered into a senior secured credit agreement with Morgan Stanley Bank International in respect of banking facilities of up to £45 million.
The facility replaces the company's existing £20m revolving credit facility. It will be used to repay the £5m term loan. The increased facility will provide additional headroom for general corporate and working capital purposes.
As part of the arrangement fee for the facility, Accident Exchange has undertaken to seek shareholder approval for the grant of warrants in favour of Morgan Stanley over 718,571 ordinary shares in the capital of the company (representing 1% of the Company's current issued share capital) at an exercise price of 105 pence per share.
The necessary special resolution will be proposed at the forthcoming Annual General Meeting.
Final results for the year to 30 April will be announced on Monday 16 July 2007.
DATED: 16.06.07
FEED: AW
The facility replaces the company's existing £20m revolving credit facility. It will be used to repay the £5m term loan. The increased facility will provide additional headroom for general corporate and working capital purposes.
As part of the arrangement fee for the facility, Accident Exchange has undertaken to seek shareholder approval for the grant of warrants in favour of Morgan Stanley over 718,571 ordinary shares in the capital of the company (representing 1% of the Company's current issued share capital) at an exercise price of 105 pence per share.
The necessary special resolution will be proposed at the forthcoming Annual General Meeting.
Final results for the year to 30 April will be announced on Monday 16 July 2007.
DATED: 16.06.07
FEED: AW
Universal Salvage now part of Copart
UNIVERSAL SALVAGE confirms today that the Scheme of Arrangement has been implemented making the firm part of Copart UK Limited.
Universal Salvage Shareholders are entitled to receive 200 pence in cash for each Universal Salvage Share held. Settlement of the cash consideration is expected to be effected within 14 days of the date of this announcement.
Copart UK is a wholly-owned subsidiary of Copart, Inc.
DATED: 16.06.07
FEED: AW
Universal Salvage Shareholders are entitled to receive 200 pence in cash for each Universal Salvage Share held. Settlement of the cash consideration is expected to be effected within 14 days of the date of this announcement.
Copart UK is a wholly-owned subsidiary of Copart, Inc.
DATED: 16.06.07
FEED: AW
'Nanjing Factor' pushes-up value of used MG TFs
WITH NANJING'S version of the MG TF just around the corner, values of second-hand examples have increased by several per cent in recent weeks.
Is this a case of the 'Nanjing Factor' stirring-up interest in what was once one of the best-selling roadsters? Hardly.
DATED: 16.06.07
FEED: AW
Is this a case of the 'Nanjing Factor' stirring-up interest in what was once one of the best-selling roadsters? Hardly.
DATED: 16.06.07
FEED: AW
Wyatt to focus on dealer expansion at Suzuki UK
DALE WYATT has been appointed general manager in charge of dealer development at Suzuki GB in Milton Keynes.
He will lead a dealer development team dedicated to expanding the presence of the Suzuki franchise throughout the UK in key market and open point areas and will report to the sales and marketing director.
DATED: 16.06.07
FEED: AW
He will lead a dealer development team dedicated to expanding the presence of the Suzuki franchise throughout the UK in key market and open point areas and will report to the sales and marketing director.
DATED: 16.06.07
FEED: AW
Allen Ford purchases Bath franchises
JOHN AND Robert Stewart have sold their motor trade interests in Bath, including the Ford, Kia and Peugeot franchises. But the brothers - whose family interests in the motor trade go back to coach building in the 1700s - will retain the property and the company name .
"Now we are Kingsmead Motor Company, without any cars," said Robin.
But the brothers have no plans to sell their site to the developers. "I don't think we have any inclination to change the use of the site," said Robin Stewart.
DATED: 16.06.07
FEED: AW
"Now we are Kingsmead Motor Company, without any cars," said Robin.
But the brothers have no plans to sell their site to the developers. "I don't think we have any inclination to change the use of the site," said Robin Stewart.
DATED: 16.06.07
FEED: AW
Wednesday, June 13, 2007
Dealerships' names worry council
DEALERS planning a new outlet in the borough of Ellesmere Port will be wise to consider how they name the premises when applying for planning permission.
The council is concerned that some dealerships are using the manufacturer's name followed by the word 'Chester'.
The council is anxious that new dealerships make reference to the borough and not to nearby Chester.
The Volkswagen Group has been granted permission for an Audi showroom in Longlooms Road, Little Stanney.
It will provide a car showroom, workshop, offices for the Audi dealership and regional offices for the company - it is to be called Ellesmere Port Audi.
DATED: 13.06.07
FEED: AW
The council is concerned that some dealerships are using the manufacturer's name followed by the word 'Chester'.
The council is anxious that new dealerships make reference to the borough and not to nearby Chester.
The Volkswagen Group has been granted permission for an Audi showroom in Longlooms Road, Little Stanney.
It will provide a car showroom, workshop, offices for the Audi dealership and regional offices for the company - it is to be called Ellesmere Port Audi.
DATED: 13.06.07
FEED: AW
New Captiva has them scratching around in London
CHEVROLET HAD them all scratching around in Covent Garden for the launch of the new Captiva.
The company's first SUV had been covered in latex - as used on lottery scratch cards - to provide thousands of scratch panels. One of them hides a symbol which will mean that the 'scratcher' has won the £116,995 vehicle.
The unique SUV took 2-months to prepare and could take 14-hrs for all the panels to be scratched-off.
DATED: 13.06.07
FEED: AW
The company's first SUV had been covered in latex - as used on lottery scratch cards - to provide thousands of scratch panels. One of them hides a symbol which will mean that the 'scratcher' has won the £116,995 vehicle.
The unique SUV took 2-months to prepare and could take 14-hrs for all the panels to be scratched-off.
DATED: 13.06.07
FEED: AW
Peugeot to teach 6th formers safer driving
PEUGEOT is on a mission to save young lives in Coventry and Warwickshire.
The importer is launching a new young driver safety initiative in early September to coincide with sixth formers returning to school. It will be an annual award over the next 3-years, aimed at helping 17 to21-year-olds become safer, more skilled drivers.
Currently around 1,000 young lives are lost every year on UK roads.
DATED: 13.06.07
FEED: AW
The importer is launching a new young driver safety initiative in early September to coincide with sixth formers returning to school. It will be an annual award over the next 3-years, aimed at helping 17 to21-year-olds become safer, more skilled drivers.
Currently around 1,000 young lives are lost every year on UK roads.
DATED: 13.06.07
FEED: AW
Ford hides behind 'speculation' on PAG rumours
A FORD US spokesman, yesterday, declined to comment on reports that investment banks had been called-in to advise on the sale of Volvo Jaguar and Land Rover.
He described the newspaper reports as 'speculation'.
Fiat, Renault and private equity firm, Alchemy, have all distanced themselves from other rumours of an interest in buying just the two British brands - Jaguar and Land Rover.
But the rumours of a possible interest by Alchemy Partners certainly worried the unions.
DATED: 13.06.07
FEED: AW
He described the newspaper reports as 'speculation'.
Fiat, Renault and private equity firm, Alchemy, have all distanced themselves from other rumours of an interest in buying just the two British brands - Jaguar and Land Rover.
But the rumours of a possible interest by Alchemy Partners certainly worried the unions.
DATED: 13.06.07
FEED: AW
Nissan chooses Sunderland for global training role
RESIDENTS OF Sunderland will soon be noticing a more cosmopolitan air wafting around the streets.
The Nissan factory has been selected as one of only two global training centres by the Japanese car-maker.
Production supervisors from Nissan plants in Europe, India, the Middle East and South Africa will now be trained in lean manufacturing techniques at the north east plant.
They will train on a £4m replica production line and then take their knowledge back to their own countries in order to train others.
DATED: 13.06.07
FEED: AW
The Nissan factory has been selected as one of only two global training centres by the Japanese car-maker.
Production supervisors from Nissan plants in Europe, India, the Middle East and South Africa will now be trained in lean manufacturing techniques at the north east plant.
They will train on a £4m replica production line and then take their knowledge back to their own countries in order to train others.
DATED: 13.06.07
FEED: AW
Monday, June 11, 2007
Inchcape acquires Latvia business for £60m
INCHCAPE PLC is paying £60.5m for Baltic Motors in Latvia.
Baltic Motors represents Ford, BMW and Land Rover in Latvia. Its main business is based in the Latvian capital, Riga, with additional dealerships in the regional cities of Liepaja and Ventspils.
Inchcape already has distribution of Land Rover in the region and also retails BMW, Jaguar and Mazda and is the exclusive distributor and retailer of Ford in Latvia.
DATED: 11.06.07
FEED: AW
Baltic Motors represents Ford, BMW and Land Rover in Latvia. Its main business is based in the Latvian capital, Riga, with additional dealerships in the regional cities of Liepaja and Ventspils.
Inchcape already has distribution of Land Rover in the region and also retails BMW, Jaguar and Mazda and is the exclusive distributor and retailer of Ford in Latvia.
DATED: 11.06.07
FEED: AW
Alchemy's interest in Jaguar 'only emotional'
ALCHEMY PARTNERS has denied reports that it is lining-up a £3bn bid for Ford's luxury brands, Jaguar and Land Rover.
"We are only interested in the companies on an emotional level," said a spokeswoman for Alchemy.
"We are not working on it and we have not spoken to Ford," she confirmed.
DATED: 11.06.07
FEED: AW
"We are only interested in the companies on an emotional level," said a spokeswoman for Alchemy.
"We are not working on it and we have not spoken to Ford," she confirmed.
DATED: 11.06.07
FEED: AW
Ford reportedly ready to sell PAG
Alchemy ready to take Jaguar and Land Rover
THE TOPIC of the ownership of Jaguar is again at the top of the headlines.
Automotive News Europe is reporting today that Ford has hired investment banks Goldman Sachs and Morgan Stanley to sell the whole of its Premier Automotive Group (PAG), which not only includes Jaguar but, also, Land Rover and Volvo.
The London City AM newspaper, today, further reports that private equity firm, Alchemy Partners, is putting together a £3bn bid for Jaguar and Land Rover.
DATED: 11.06.07
FEED: AW
THE TOPIC of the ownership of Jaguar is again at the top of the headlines.
Automotive News Europe is reporting today that Ford has hired investment banks Goldman Sachs and Morgan Stanley to sell the whole of its Premier Automotive Group (PAG), which not only includes Jaguar but, also, Land Rover and Volvo.
The London City AM newspaper, today, further reports that private equity firm, Alchemy Partners, is putting together a £3bn bid for Jaguar and Land Rover.
DATED: 11.06.07
FEED: AW
EMH pair take-on Perodua UK and Piaggio
INCHCAPE HAS relinquished its importation of Perodua and Piaggio mini vans which it acquired when it bought European Motor Holdings.
Former EMH directors, Richard Palmer (pictured) and Ann Wilson, have created Henley Motor Holdings which has purchased Perodua UK Ltd from Inchcape.
Perodua told AutoWired that it currently has around 70 dealerships in the UK but has open points in Devon and Scotland.
Piaggio requires dealers in N. Lincs and Derbyshire.
DATED: 11.06.07
FEED: AW
Former EMH directors, Richard Palmer (pictured) and Ann Wilson, have created Henley Motor Holdings which has purchased Perodua UK Ltd from Inchcape.
Perodua told AutoWired that it currently has around 70 dealerships in the UK but has open points in Devon and Scotland.
Piaggio requires dealers in N. Lincs and Derbyshire.
DATED: 11.06.07
FEED: AW
2-year wait for payout to former MG Rover dealers
MG ROVER dealers, as well as suppliers, are awaiting payment of claims totalling £1.344bn from the collapse of MG Rover in 2005.
The details are contained in the joint liquidators' report from Price Waterhouse Coopers.
The report warns that unsecured creditors could eventually get up to 5p in the pound - but it could take up to 2-years as claims are still being received.
DATED: 11.06.07
FEED: AW
The details are contained in the joint liquidators' report from Price Waterhouse Coopers.
The report warns that unsecured creditors could eventually get up to 5p in the pound - but it could take up to 2-years as claims are still being received.
DATED: 11.06.07
FEED: AW
