Wednesday, October 03, 2007
Lookers swoops on Dutton Forshaw
Lookers, the UK’s fifth largest dealer group, has acquired rival Dutton Forshaw in a £60m deal.
The acquisition will see Lookers pay £28m for the business as well as taking on £32m of debt.
Lookers said the takeover would strengthen its relationship with its newer manufacturer partners as well as expanding its footprint in the UK.
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Carter & Carter suspends its shares
Carter & Carter, the UK’s largest automotive training provider, has suspended its shares because of uncertainty over its financial position.
Following news of the suspension, John Green, group finance director, resigned from the board with immediate effect. A successor is now being sought.
The company has been in discussions with banks since issuing two profit warnings over the summer and speculation is mounting the training group may be forced into a sale.
DATED: 03.10.07
FEED: MT
Ferrari and Maserati part company with Inchcape
Ferrari and Maserati GB has announced that HR Owen, Sytner Group and Lancaster will take over the Maranello-badged dealerships in St Albans, Egham and Sevenoaks from Inchcape.
The appointments follow Inchcape's decision earlier this year to focus on a core group of brands. Inchcape said it sold the businesses for a total of £15.8m.
The iconic Egham site will now be run by the Sytner Group
The group was the UK distributor for Ferrari and Maserati until October 2004 when the luxury marques took the operation in house.
DATED: 03.10.07
FEED: MT
Honda UK appoints new general manager
Honda UK has appointed Bernard Bradley to the position of general manger for its cars division.
Formerly head of sales, Bradley will replace Ewan Ramsay and takes on his new role from 17 October.
Ramsay joined Honda UK as general manager of cars in 2005 and leaves to head up a car dealer group overseas.
DATED: 03.10.07
FEED: MT
UK motorists lie to sell their cars
More than a quarter of UK motorists admit they would deceive a buyer to sell their used car, according to new research from RAC Car Data Checks.
Over a quarter of sellers in Britain last year attempted to hide scratches when selling their car, while many exaggerated the car's performance.
The research also found that over a million drivers would conveniently ‘forget’ to mention their car had been involved in an accident.
DATED: 03.10.07
FEED: MT
Tuesday, October 02, 2007
Nanjing MG launches MG 7 Series
In China, the equivalent price of the MG7 ranges from £12,600 to £22,260. Prices for other markets will be announced in due course.
Nanjing MG’s sales director Yang Junhu said: “We are bringing British automotive culture to our country. Until now no other car from a British marque has been manufactured and sold in China.”
DATED: 02.10.07
FEED: MT
Rolls-Royce to launch new coupe
Rolls-Royce has confirmed that its two-door concept model the 101EX will enter production next year.
The four-seat coupe will be built at the luxury brand’s Goodwood plant and completes the line-up of Phantom vehicles.
The new model will be priced between the Phantom and Phantom Drophead Coupe, which retail at £224,000 and £260,000 respectively.
DATED: 02.10.07
FEED: MT
Land Rover heads for record sales year
Land Rover claims it is heading for a record sales year despite the uncertainty surrounding its future.
Andy Griffiths, marketing manager, predicted 50,000 UK sales this year – up from 42,800 in 2006.
He also expected registrations in the plate-change month of September to be well ahead year-on-year.
DATED: 02.10.07
FEED: MT
HR Owen snaps up Ferrari and Maserati dealership
HR Owen, the luxury car dealer group, has acquired a Ferrari and Maserati dealership in Hertfordshire from Inchcape.
The St. Albans site has been snapped up for £320,000, which includes £250,000 for goodwill.
Last year the dealership generated £400,000 in pre-tax profit and has gross assets of £710,000.
DATED: 02.10.07
FEED: MT
Pendragon to issue second profits warning?
Pendragon, the UK’s largest dealer group, could be about to issue a profit warning.
Press speculation suggests the giant car retailer may issue the warning on the back of poor September car sales.
According to a report in The Times, investment bank Dresdner Kleinwort has cut its target share price to 45p – almost a quarter below its current value.
DATED: 02.10.07
FEED: MT
Seat UK appoints new dealer boss
Seat UK has appointed a new head of dealer operations.
In his new role Richard Harrison will oversee the brand’s entire UK dealer network as well as its supply and logistics.
Harrison replaces Mark McKenna, who is leaving Seat after nearly ten years with the carmaker.
Previously, Harrison has worked at Renault and Vauxhall and has spent the past three years working in management consultancy and business turnaround projects.
DATED: 02.10.07
FEED: MT
Hummer launches in the UK
Hummer, General Motors’ giant SUV brand, has gone on sale for the first time in the UK.
Launch model the H3 is smaller than other cars in the Hummer line-up and has been designed with European markets in mind.
H3 is now available in UK showrooms
The SUV goes on sale at the UK’s first official Hummer dealer, Bauer Millett in Manchester, as well as sites at Park Lane in London and in Birmingham.
DATED: 02.10.07
FEED: MT
DaimlerChrysler marketing boss quits
Steve Gray, one of the longest serving marketing directors in the automotive sector, has left DaimlerChrysler UK.
Gray played a major role in establishing the success of the Chrysler and Jeep brands in the UK during his time at Inchcape and subsequently with DCUK.
He also recently played a significant part in the launch of the Dodge brand in Britain.
Gray has now decided it is time for a change of direction.
DATED: 02.10.07
FEED: MT
Car sales to be hit by financial market turmoil
Current turmoil in the financial markets is expected to hit car sales in a few months, according to the managing director of IM Group, Andrew Edmiston.
The boss of the Subaru, Daihatsu and Isuzu importer said some carbuyers were going to find it much harder to finance purchases as lenders made more cautious decisions.
He believes there could be a strong divide between better off older buyers who finance their own purchases and younger buyers who rely on finance companies to borrow funds.
DATED: 02.10.07
FEED: MT
Tata to launch world's cheapest car
Tata, the Indian carmaker, claims it is poised to launch the world’s cheapest car in the next few months priced at $2,500 (£1,250).
Prototypes are already being tested at its main production plant and the car is expected to first launch in India in 2008.
It is not yet known if the new model will come to the UK although the brand is currently in the process of reviewing its network and brand positioning here.
DATED: 02.10.07
FEED: MT
Sunday, September 30, 2007
Skoda's triple honours at Towcar Awards
Roomster Scout 1.9 TDI wins 'Cars Under £16,000' class
Octavia Scout TDI is best car between £20,000-£25,000
Diesel Scout also tops the 4x4 under 1,800kg category Skoda had a heavy load in tow following the recent Towcar of the Year awards at London's prestigious RAC club. The Czech manufacturer scooped three of the seven gongs on offer. The 2.0-litre TDI Octavia Scout was the star of the show winning two, while the Roomster Scout 1.9 TDI was also victorious in its class.
DATED: 30.09.07
FEED: AW
Octavia Scout TDI is best car between £20,000-£25,000
Diesel Scout also tops the 4x4 under 1,800kg category Skoda had a heavy load in tow following the recent Towcar of the Year awards at London's prestigious RAC club. The Czech manufacturer scooped three of the seven gongs on offer. The 2.0-litre TDI Octavia Scout was the star of the show winning two, while the Roomster Scout 1.9 TDI was also victorious in its class.
DATED: 30.09.07
FEED: AW
Jobs boost for Nissan car plant
Almost 200 new jobs are being created at the Nissan car plant in Sunderland, to help meet demand for the company's latest model, the Qashqai. More than 70,000 of the vehicles have been sold across Europe since the small 4x4 vehicle was launched in March. Now 180 manufacturing staff, currently working at the plant on fixed-term temporary contracts, will be offered full-time permanent jobs with Nissan. About 850 Qashqai's roll off the Sunderland production line each day.
DATED: 30.09.07
FEED: AW
DATED: 30.09.07
FEED: AW
Running costs of £630 a mile!
This car is enough to make any fleet manager or business operator wince. With running costs, including depreciation, currently standing around £630 a mile it potentially is the most expensive car to run in Britain. The 1985 Buckingham is being offered for sale in BCA's next Classic & Historic sale, at BCA Blackbushe at 12 Noon on Tuesday 2nd October 2007. Costing around £250,000 to build, it has covered just 348 miles in the past 22 years and its value is now estimated around £30,000 - meaning it has cost £632 per mile in depreciation alone!
DATED: 30.09.07
FEED: AW
DATED: 30.09.07
FEED: AW
Toyota Prius losing out in 'green' race
Conventional petrol and diesel cars are beginning to outpace Toyota's Prius on environmental friendliness, according to a new report. The hybrid remains the cleanest for its size, but is outranked by 11 smaller Peugeot, Citroen, Ford, Smart and other cars in a new environmental ratings system, which has been devised by researchers at Cardiff University and Clifford Thames, an automotive consultancy. They claim that petrol and diesel cars with new emissions-cutting technology will outpace the Prius on a size-for-size basis over the next 12-18 months.
DATED: 30.09.07
FEED: AW
DATED: 30.09.07
FEED: AW
CV Show 2008 on target for a sell-out
Demand for exhibition space at the Commercial Vehicle Show 2008 has hit a record high, setting the event on target to become the largest dedicated road transport show in Europe. With more than six months to go until the exhibition opens its doors on 15 April 2008, 82 per cent of the available stand space has already been sold and the event looks likely to exceed previous exhibitor numbers. The growth coincides with the CV Show's relocation to Halls 17 to 20 and 6 to 12 at the NEC, covering a total of more than 90,000m². "The demand for space is at a real premium, and as a result next year's CV Show is going to be bigger and better than ever before," says David Sedgley, CV Show chairman. "We've got record numbers of exhibitors choosing to increase the size of their stands, coupled with a healthy pipeline of companies booked to exhibit for the first time."
DATED: 30.09.07
FEED: AW
DATED: 30.09.07
FEED: AW
