Saturday, July 14, 2007
Leed's new Porsche outlet now open
JCT 600 opened its new £6.2m Porsche dealership in Leeds this week.
The 3-acre site is one of only three Porsche Centres of Excellence in the UK.
The actual construction and fit out took 40-weeks to complete but the purchasing and planning has been a 2-year project for Mark Taylor, JCT600 property director.
"At times it seemed as if we would never progress through the planning stages," he said, "but it is a stunning addition and we, as well as Porsche GB, are delighted with the result."
DATED: 14.07.07
FEED: AW
The 3-acre site is one of only three Porsche Centres of Excellence in the UK.
The actual construction and fit out took 40-weeks to complete but the purchasing and planning has been a 2-year project for Mark Taylor, JCT600 property director.
"At times it seemed as if we would never progress through the planning stages," he said, "but it is a stunning addition and we, as well as Porsche GB, are delighted with the result."
DATED: 14.07.07
FEED: AW
Gov't aid to Vauxhall under investigation
THE EUROPEAN Commission is to investigate whether Britain's plan to give £8.5m to a Vauxhall Ellesmere Port plant breaks EU state aid rules.
The government cash will subsidise a training program for some 2,200 people who will work in the plant between 2007 and 2012.
"The Commission has doubts whether the aid would add value to the training program, in that Vauxhall may well have carried out the training even without aid," the European Union executive said.
EU rules only allow state aid which provides a genuine incentive for additional training.
The Commission has authority over any financial government help given to companies and can prohibit such state aid.
DATED: 14.07.07
FEED: AW
The government cash will subsidise a training program for some 2,200 people who will work in the plant between 2007 and 2012.
"The Commission has doubts whether the aid would add value to the training program, in that Vauxhall may well have carried out the training even without aid," the European Union executive said.
EU rules only allow state aid which provides a genuine incentive for additional training.
The Commission has authority over any financial government help given to companies and can prohibit such state aid.
DATED: 14.07.07
FEED: AW
Renault takes control in Ireland
RENAULT WILL not be renewing its Irish distribution contract with Bill Cullen when it terminates at the end of 2008.
Mr Cullen bought the contract from Waterford Glass in 1986. He paid £1 for it and agreed to take-on large debts.
Renault will take control of Irish distribution, following BMW and Mazda
DATED: 14.07.07
FEED: AW
Mr Cullen bought the contract from Waterford Glass in 1986. He paid £1 for it and agreed to take-on large debts.
Renault will take control of Irish distribution, following BMW and Mazda
DATED: 14.07.07
FEED: AW
Friday, July 13, 2007
Internet dominates car buying process
Study shows 85% of consumers research online
The internet is as important as a test drive in the car buying process, according to a new study.
Research by customer experience benchmarking firm Global Reviews found that websites heavily influence the purchasing decision - 85 per cent of car buyers visit manufacturers' websites before buying a car.
Almost 80 per cent use the internet to compare cars from different manufacturers and 20 per cent go online again just before making their final decision.
DATED: 13.07.07
FEED: MT
Audi rapped by Office of Fair Trading
The Office of Fair Trading has moved to block Audi from exerting too much control over its authorised repairers.
According to the OFT, Audi had now introduced more flexible standards to improve competition in the servicing of the brand’s cars in line with block exemption regulations.
Requirements to dedicate an exclusive area for the servicing and repair of Audi vehicles and to display Audi corporate signs have been dropped.
DATED: 13.07.07
FEED: MT
According to the OFT, Audi had now introduced more flexible standards to improve competition in the servicing of the brand’s cars in line with block exemption regulations.
Requirements to dedicate an exclusive area for the servicing and repair of Audi vehicles and to display Audi corporate signs have been dropped.
DATED: 13.07.07
FEED: MT
Peugeot 4007 Pricing Announced
Peugeot has announced the pricing for its first 4x4 which is due to hit UK showrooms in August.
The 4007, which debuted at the Geneva Motor Show in February, will be launched with two trim levels.
The SE version starts at £22,790 on-the-road and the sportier GE starts at £25,490.
Peugeot said the new model would be positioned “at the heart of the SUV market” and was designed to attract new customers to the brand.
The 4007 is a joint collaboration between Peugeot and Mitsubishi.
DATED: 13.07.07
FEED: MT
The 4007, which debuted at the Geneva Motor Show in February, will be launched with two trim levels.
The SE version starts at £22,790 on-the-road and the sportier GE starts at £25,490.
Peugeot said the new model would be positioned “at the heart of the SUV market” and was designed to attract new customers to the brand.
The 4007 is a joint collaboration between Peugeot and Mitsubishi.
DATED: 13.07.07
FEED: MT
General Motors unveils UK Cadillac plans
General Motors has announced a raft of changes to the way its Cadillac, Corvette and Hummer brands will be sold in the UK.
Cadillac and Corvette, which launched in the UK in November 2004, will continue to be sold by Pendragon through its Stratstone network but only in metropolitan areas.
GM said the move was designed to maximise sales in “demographically strong” urban areas and the network would be “re-focussed” into five territories.
DATED: 13.07.07
FEED: MT
Cadillac and Corvette, which launched in the UK in November 2004, will continue to be sold by Pendragon through its Stratstone network but only in metropolitan areas.
GM said the move was designed to maximise sales in “demographically strong” urban areas and the network would be “re-focussed” into five territories.
DATED: 13.07.07
FEED: MT
Thursday, July 12, 2007
Flooded businesses offered interest-free loans
CAR DEALERS and other businesses hit by floods in Yorkshire are being offered interest-free loans.
The short-term loans are being offered by the Federation of Small Businesses (FSB).
The news was cautiously welcomed by car trader and car scrap yard owner, Thomas Neal, whose businesses in Pickering were marooned.
"Loans to tide people over are a good idea but loans have to be paid back. It depends how long the repayment period is," he said.
DATED: 12.07.07
FEED: AW
The short-term loans are being offered by the Federation of Small Businesses (FSB).
The news was cautiously welcomed by car trader and car scrap yard owner, Thomas Neal, whose businesses in Pickering were marooned.
"Loans to tide people over are a good idea but loans have to be paid back. It depends how long the repayment period is," he said.
DATED: 12.07.07
FEED: AW
Automotive Skills is absorbed by IMI
AUTOMOTIVE SKILLS has been absorbed by the Institute of the Motor Industry (IMI).
The work of Automotive Skills in research, identifying skills needs and the development of qualifications are now combined with the IMI's. The whole operation will be based at the IMI's headquarters near Hertford.
Sarah Sillars, IMI chief executive, heads up the enlarged organisation, reporting to Steve Nash, who will become chairman of the IMI executive board. Members of the board of Automotive Skills have accepted positions on the IMI board, AutoWired understands.
"The move is actively supported and encouraged by the automotive industry across all activities and has been endorsed by stakeholders in having real benefits for the sector and its employees," said Nash.
The move is supported by the government, which is expected to confirm the combined organisation as a Sector Skills Council shortly.
DATED: 12.07.07
FEED: AW
The work of Automotive Skills in research, identifying skills needs and the development of qualifications are now combined with the IMI's. The whole operation will be based at the IMI's headquarters near Hertford.
Sarah Sillars, IMI chief executive, heads up the enlarged organisation, reporting to Steve Nash, who will become chairman of the IMI executive board. Members of the board of Automotive Skills have accepted positions on the IMI board, AutoWired understands.
"The move is actively supported and encouraged by the automotive industry across all activities and has been endorsed by stakeholders in having real benefits for the sector and its employees," said Nash.
The move is supported by the government, which is expected to confirm the combined organisation as a Sector Skills Council shortly.
DATED: 12.07.07
FEED: AW
Automotive Skills is absorbed by IMI
AUTOMOTIVE SKILLS has been absorbed by the Institute of the Motor Industry (IMI).
The work of Automotive Skills in research, identifying skills needs and the development of qualifications are now combined with the IMI's. The whole operation will be based at the IMI's headquarters near Hertford.
Sarah Sillars, IMI chief executive, heads up the enlarged organisation, reporting to Steve Nash, who will become chairman of the IMI executive board. Members of the board of Automotive Skills have accepted positions on the IMI board, AutoWired understands.
"The move is actively supported and encouraged by the automotive industry across all activities and has been endorsed by stakeholders in having real benefits for the sector and its employees," said Nash.
The move is supported by the government, which is expected to confirm the combined organisation as a Sector Skills Council shortly.
DATED: 12.07.07
FEED: AW
The work of Automotive Skills in research, identifying skills needs and the development of qualifications are now combined with the IMI's. The whole operation will be based at the IMI's headquarters near Hertford.
Sarah Sillars, IMI chief executive, heads up the enlarged organisation, reporting to Steve Nash, who will become chairman of the IMI executive board. Members of the board of Automotive Skills have accepted positions on the IMI board, AutoWired understands.
"The move is actively supported and encouraged by the automotive industry across all activities and has been endorsed by stakeholders in having real benefits for the sector and its employees," said Nash.
The move is supported by the government, which is expected to confirm the combined organisation as a Sector Skills Council shortly.
DATED: 12.07.07
FEED: AW
Govt still committed to 5-yr emissions target
PRIME MINISTER, Gordon Brown, yesterday, reconfirmed the measures in the Climate Change Bill which was originally in March.
Speaking in parliament on his plans for reform, he confirmed that the government will proceed with the Bill to make Britain the first country in the world to introduce a legal framework for reducing carbon emissions by setting targets for carbon emission reductions for each 5-year period to 2050.
"The Energy Bill will provide greater incentives for renewable energy generation and the Local Transport Bill will support the government's strategy to tackle congestion and improve public transport," he said.
DATED: 12.07.07
FEED: AW
Speaking in parliament on his plans for reform, he confirmed that the government will proceed with the Bill to make Britain the first country in the world to introduce a legal framework for reducing carbon emissions by setting targets for carbon emission reductions for each 5-year period to 2050.
"The Energy Bill will provide greater incentives for renewable energy generation and the Local Transport Bill will support the government's strategy to tackle congestion and improve public transport," he said.
DATED: 12.07.07
FEED: AW
HMRC’s final call for responses to AMAP
HM Revenue & Customs is calling for more fleets to air their opinion on the administration burden attached to the three tabled changes to Approved Mileage Allowance Payments for drivers using private cars on work business. An HMRC statement said: ‘As mileage allowance payments are used by a large number of employers, HMRC would like responses from as broad a spectrum of employers as possible.’The HMRC said employers were also welcome to comment on the rates and thresholds themselves, but it was at pains to point out that they are for ‘illustration purposes only’ at this stage.The three options under discussion are linking AMAPs to carbon dioxide emissions, amending the existing rates and thresholds, or combining the two to provide a ‘more composite approach’.The current rates don’t take engine size or emissions into account, sitting at 40p per mile for the first 10,000 miles in a tax year, and 25p a mile thereafter. Opinions should be emailed to pa.harris@hmrc.gsi.gov.uk (BusinessCar: July 6).
DATED: 12.07.07
FEED: HC
DATED: 12.07.07
FEED: HC
IMI and Automotive Skills join forces
The Institute of the Motor Industry and Automotive Skills are to join forces in a move designed to improve recruitment to the motor industry.
Sarah Sillars, the chief executive of the IMI who has headed an interim management team at Automotive Skills since October 2006, will continue to spearhead the new operation.
The organisation will be renamed the IMI Group, of which the Automotive Skills Council will be a division.
"Brilliant marriage"
Simon Perryman, head of performance at the Sector Skills Development Agency, which is responsible for 25 sector skills councils, including Automotive Skills, described the merger as a “brilliant marriage”.
“Connecting the organisations is the obvious thing to do,” he said, “it cuts out overlap and confusion.”
“It's a brilliant marriage between Automotive Skill's technical expertise and government connections and the IMI's “excellent reputation with employers in the industry”.
DATED: 12.07.07
FEED: MT
Sarah Sillars, the chief executive of the IMI who has headed an interim management team at Automotive Skills since October 2006, will continue to spearhead the new operation.
The organisation will be renamed the IMI Group, of which the Automotive Skills Council will be a division.
"Brilliant marriage"
Simon Perryman, head of performance at the Sector Skills Development Agency, which is responsible for 25 sector skills councils, including Automotive Skills, described the merger as a “brilliant marriage”.
“Connecting the organisations is the obvious thing to do,” he said, “it cuts out overlap and confusion.”
“It's a brilliant marriage between Automotive Skill's technical expertise and government connections and the IMI's “excellent reputation with employers in the industry”.
DATED: 12.07.07
FEED: MT
Hyundai ramps up dealer recruitment
Hyundai is looking to recruit up to 50 more dealerships – including corporate and LCV sales specialists.
The recruitment drive is designed to help the carmaker cope with a massive product onslaught that will see six cars and two vans launched within the next 18 months.
Starting with the i30 small family hatchback, launching in September, several new products are slated to follow in spring 2008.
DATED: 12.07.07
FEED: MT
The recruitment drive is designed to help the carmaker cope with a massive product onslaught that will see six cars and two vans launched within the next 18 months.
Starting with the i30 small family hatchback, launching in September, several new products are slated to follow in spring 2008.
DATED: 12.07.07
FEED: MT
BMW opens flagship dealership
One of the largest BMW franchise operations in the UK has opened its doors following a £10m investment.
The Knights BMW and Mini dealership on Radial Park, Stoke-on-Trent is a significant move for the dealer which was previously based in Newcastle-under-Lyme.
The new premises now include a wi-fi lounge as well as an on-site Starbucks franchise.
DATED: 12.07.07
FEED: MT
The Knights BMW and Mini dealership on Radial Park, Stoke-on-Trent is a significant move for the dealer which was previously based in Newcastle-under-Lyme.
The new premises now include a wi-fi lounge as well as an on-site Starbucks franchise.
DATED: 12.07.07
FEED: MT
Wednesday, July 11, 2007
Nissan opens European quality centre
NISSAN has opened a £3m quality improvement centre at its European Technical Centre in Cranfield, Bedfordshire in the UK.
It will play a leading role for product quality improvement in Europe, and also centralise responsibilities previously handled by several functions dispersed throughout the continent.
DATED: 11.07.07
FEED: AW
It will play a leading role for product quality improvement in Europe, and also centralise responsibilities previously handled by several functions dispersed throughout the continent.
DATED: 11.07.07
FEED: AW
Macgowan joins BEN's run to Russia
CHIEF EXECUTIVE of the SMMT and president of BEN, Christopher Macgowan, will be joining the BEN Trafalgar to Red Square Rally on Saturday, 14 July.
He will be joining the convey of vehicles in a Volkswagen California Motorhome which is being sponsored by The Caravan Club.
The 8-day driving challenge links two famous squares; Trafalgar Square in London to Red Square in Moscow. The event starts, on Saturday 14 July, in the heart of London and crosses the channel over to the Hook of Holland where the journey continues through Germany, Poland, Lithuania, Latvia and finally into Russia to the finishing line of Red Square in Moscow.
DATED: 11.07.07
FEED: AW
He will be joining the convey of vehicles in a Volkswagen California Motorhome which is being sponsored by The Caravan Club.
The 8-day driving challenge links two famous squares; Trafalgar Square in London to Red Square in Moscow. The event starts, on Saturday 14 July, in the heart of London and crosses the channel over to the Hook of Holland where the journey continues through Germany, Poland, Lithuania, Latvia and finally into Russia to the finishing line of Red Square in Moscow.
DATED: 11.07.07
FEED: AW
Skoda appoints VW man as CEO
REINHARD Jung, currently head of production at Volkswagen is to be the new head of Skoda.
He will assume the post in October and will succeed chief executive officer, Detlef Wittig, who is retiring.
DATED: 11.07.07
FEED: AW
He will assume the post in October and will succeed chief executive officer, Detlef Wittig, who is retiring.
DATED: 11.07.07
FEED: AW
National Tyres pumps-up for sell-out
TYRE AND Fast Fit group, National Tyres, could be putting-up the 'For Sale' sign.
The firm, with 200 branches, has hired Price Waterhouse Coopers to advise on a strategic review.
A price of between £75m-£100m is rumoured as being a guide price.
Chairman and chief executive Alan Revie teamed up with John Cauldwell, John Kemp and John Taylor in 2002 to buy the loss-making chain from the German tyre-maker, Continental for £24m.
Nationwide Autos and its partner, Phoenix Equity Partners, Micheldever Tyres, which is backed by buyout fund Graphite Capital, and Scottish-based rival Kwik-Fit, owned by CVC, are all thought to be interested.
DATED: 11.07.07
FEED: AW
The firm, with 200 branches, has hired Price Waterhouse Coopers to advise on a strategic review.
A price of between £75m-£100m is rumoured as being a guide price.
Chairman and chief executive Alan Revie teamed up with John Cauldwell, John Kemp and John Taylor in 2002 to buy the loss-making chain from the German tyre-maker, Continental for £24m.
Nationwide Autos and its partner, Phoenix Equity Partners, Micheldever Tyres, which is backed by buyout fund Graphite Capital, and Scottish-based rival Kwik-Fit, owned by CVC, are all thought to be interested.
DATED: 11.07.07
FEED: AW
Tuesday, July 10, 2007
LDV appoints manager for France
AFTER A spell with Mitsubishi France, Philippe Brun (44) has re-joined van-maker LDV.
He has been appointed commercial manager for France, reporting to LDV's newly appointed export director, Robert Drewery. He will be responsible for managing and building upon LDV's existing network of 11 sales dealers in France.
DATED: 10.07.07
FEED: AW
He has been appointed commercial manager for France, reporting to LDV's newly appointed export director, Robert Drewery. He will be responsible for managing and building upon LDV's existing network of 11 sales dealers in France.
DATED: 10.07.07
FEED: AW
'Nanny supermarket' wants 'No Smoking'
Motorpoint, is taking it upon itself to become the champion of non-smoking motorists.
The retailer is not only looking at introducing a 'no smoking' sticker in every company car and commercial vehicle it sells, as part of New Labours' general smoking ban but, is also, contemplating rolling this out to all private vehicles sold at its five UK sites.
"It is the retailer's responsibility to educate buyers on the dangers associated with smoking," said managing director, David Shelton
DATED: 10.07.07
FEED: AW
The retailer is not only looking at introducing a 'no smoking' sticker in every company car and commercial vehicle it sells, as part of New Labours' general smoking ban but, is also, contemplating rolling this out to all private vehicles sold at its five UK sites.
"It is the retailer's responsibility to educate buyers on the dangers associated with smoking," said managing director, David Shelton
DATED: 10.07.07
FEED: AW
Commercial vehicle growth continues
Figures just released by the Society of Motor Manufacturers and Traders show commercial vehicle growth continuing.
Vans are up 1.6% for June and 2.0% for the rolling year while trucks are up 53.2% for June, though still down 21.3% for the rolling year.
"The good news on van and truck registrations continues for the third straight month," said Christopher Macgowan, SMMT chief executive. For vans the figures are good with the medium and heavy sectors doing particularly well. For trucks the distortion caused by last year's digital tachograph and Euro 4 emissions standards is beginning to fade and orders up.
"On that basis, we expect a return to the long-term average volumes, though supply constraints continue to complicate the picture."
DATED: 10.07.07
FEED: AW
Vans are up 1.6% for June and 2.0% for the rolling year while trucks are up 53.2% for June, though still down 21.3% for the rolling year.
"The good news on van and truck registrations continues for the third straight month," said Christopher Macgowan, SMMT chief executive. For vans the figures are good with the medium and heavy sectors doing particularly well. For trucks the distortion caused by last year's digital tachograph and Euro 4 emissions standards is beginning to fade and orders up.
"On that basis, we expect a return to the long-term average volumes, though supply constraints continue to complicate the picture."
DATED: 10.07.07
FEED: AW
Pendragon raises cash from property
PENDRAGON, which issued a profits warning last month, could have raised £300m on the sale and leaseback of its properties.
According to the Sunday Times, Britain's largest dealer has agreed to sell a portfolio of 115 properties to the property fund A-Aim.
The property involved in the deal includes dealership sites, vehicle repair depots and its head office.
DATED: 10.07.07
FEED: AW
According to the Sunday Times, Britain's largest dealer has agreed to sell a portfolio of 115 properties to the property fund A-Aim.
The property involved in the deal includes dealership sites, vehicle repair depots and its head office.
DATED: 10.07.07
FEED: AW
Bio-ethanol Megane in showrooms this year
RENAULT IS to launch a bio-ethanol version of the Megane hatch in the UK at the end of this year.
It will be Renault's first bio-ethanol vehicle to be sold in the UK and will use an adapted version of the 1.6 16V 105 engine.
The new vehicles were developed with input from expertise developed in Brazil, where Renault has been selling Flex Fuel versions of Clio and Mégane running on bio-ethanol E100 since 2004.
DATED: 10.07.07
FEED: AW
It will be Renault's first bio-ethanol vehicle to be sold in the UK and will use an adapted version of the 1.6 16V 105 engine.
The new vehicles were developed with input from expertise developed in Brazil, where Renault has been selling Flex Fuel versions of Clio and Mégane running on bio-ethanol E100 since 2004.
DATED: 10.07.07
FEED: AW
Welsh and N. Irish sales fall in June
CAR DEALERS in Wales and N. Ireland both suffered sales falls in June.
Registrations in N. Ireland fell by 2.9% to 6,833 vehicles. Those in Wales fell 3.55% to 7,905 vehicles.
In the year-to-date, registrations in N. Ireland are 2.07% ahead at 40,954 cars and those in Wales are 1.91% ahead at 46,868 cars.
Ireland
New car sales in the Republic of Ireland in June dropped by 69 units compared with June last year to 15,399.
Sales for the first 6-months are still 5.9% ahead of those last year at 153,230 units against 144,690.
The Toyota brand was the top-seller (2,124 units) followed by Volkswagen, Ford and Nissan.
Imports of good quality, low mileage second-hand cars from Britain are now running at record levels in the Republic which are hampering new car sales.
DATED: 10.07.07
FEED: AW
Registrations in N. Ireland fell by 2.9% to 6,833 vehicles. Those in Wales fell 3.55% to 7,905 vehicles.
In the year-to-date, registrations in N. Ireland are 2.07% ahead at 40,954 cars and those in Wales are 1.91% ahead at 46,868 cars.
Ireland
New car sales in the Republic of Ireland in June dropped by 69 units compared with June last year to 15,399.
Sales for the first 6-months are still 5.9% ahead of those last year at 153,230 units against 144,690.
The Toyota brand was the top-seller (2,124 units) followed by Volkswagen, Ford and Nissan.
Imports of good quality, low mileage second-hand cars from Britain are now running at record levels in the Republic which are hampering new car sales.
DATED: 10.07.07
FEED: AW
Bristol St. Citroen appointment
BRISTOL STREET Motors has completed the senior management team for the four East Midlands Citroen dealerships of the Group.
The Vertu-owned company has appointed Ray Mangat, a former franchise director with Ryland, as manager of the Burton Citroen site.
Morpeth Ford
Following the recent acquisition of Morpeth Ford from the Jennings Group, Paul Jobling has been appointed general manager. He was previously general manager of Vardy's Shirehall and Cramlington Vauxhall outlets. Steve Dawson, previously with the Bristol Street Vauxhall dealership in Newcastle, joins Morpeth as accountant.
DATED: 10.07.07
FEED : AW
The Vertu-owned company has appointed Ray Mangat, a former franchise director with Ryland, as manager of the Burton Citroen site.
Morpeth Ford
Following the recent acquisition of Morpeth Ford from the Jennings Group, Paul Jobling has been appointed general manager. He was previously general manager of Vardy's Shirehall and Cramlington Vauxhall outlets. Steve Dawson, previously with the Bristol Street Vauxhall dealership in Newcastle, joins Morpeth as accountant.
DATED: 10.07.07
FEED : AW
£5m Bristol Street/Ford opened in Stoke
OVER 150 guests turned-out for the official opening of Bristol Street Motors' £5m dealership in Stoke on Trent.
Nigel Sharp, sales director of Ford of Britain, performed the opening.
The new glass-fronted dealership has been developed to the latest Ford design standards and sits on a 4-acre site. It incorporates all operational aspects under the one roof including a 12 car showroom, Ford parts department, business centre, 15-bay service and MoT workshop as well as a 15-bay body shop. The dealership also features a 150 used car display.
Bristol Street, now part of Vertu, has spent £11.7m, recently, redeveloping its sites in Stafford and Crewe.
DATED: 10.07.07
FEED: AW
Nigel Sharp, sales director of Ford of Britain, performed the opening.
The new glass-fronted dealership has been developed to the latest Ford design standards and sits on a 4-acre site. It incorporates all operational aspects under the one roof including a 12 car showroom, Ford parts department, business centre, 15-bay service and MoT workshop as well as a 15-bay body shop. The dealership also features a 150 used car display.
Bristol Street, now part of Vertu, has spent £11.7m, recently, redeveloping its sites in Stafford and Crewe.
DATED: 10.07.07
FEED: AW
Barclays warns of falling new car sales
A decrease in new car sales should be expected in the latter half of the year because of the recent interest rate rise.
Last week the Bank of England raised interest rates to 5.75 per cent – the fifth rise since August last year - and analysts are warning the increase will hit the automotive retail sector hard.
“As the recent rises in interest rates impact further on private sector demand, we should not be surprised to see downward pressure on sales through the second half of the year.” said Keith Parry, head of motor retail at Barclays Business Banking.
DATED: 10.07.07
FEED: MT
Last week the Bank of England raised interest rates to 5.75 per cent – the fifth rise since August last year - and analysts are warning the increase will hit the automotive retail sector hard.
“As the recent rises in interest rates impact further on private sector demand, we should not be surprised to see downward pressure on sales through the second half of the year.” said Keith Parry, head of motor retail at Barclays Business Banking.
DATED: 10.07.07
FEED: MT
Vauxhall hit by runaway cars
Vauxhall has been stung by a consumer backlash following complaints that cars have been installed with faulty handbrakes.
Drivers of new Vectras and Signums have complained about several incidents in which their parked cars rolled away after the handbrake released itself.
Which?, the consumer association, reported that around half a dozen drivers had been in touch regarding the problem.
DATED: 10.07.07
FEED: MT
Drivers of new Vectras and Signums have complained about several incidents in which their parked cars rolled away after the handbrake released itself.
Which?, the consumer association, reported that around half a dozen drivers had been in touch regarding the problem.
DATED: 10.07.07
FEED: MT
