F&I Management & Training

Audi is set to launch the new TTS at the North American International Auto Show, January 13
The new model is powered by a modified version of the 2.0-litre Turbo FSI petrol engine and reaches 0-62mph in 5.4 seconds with a top speed of 155mph.

Due for launch in the UK in mid-2008, the new TTS will be available in both Coupé and Roadster body styles. Audi has launched a radft of new products over the past year, including the Q7 SUV and A5 Coupe, and the TTS will take the total number of models in Audi’s range to 26.

DATED: 11.01.08

FEED: MT

GMAC, the finance company, has appointed a new head of sales and marketing.
Dennis Foley has taken on the newly-created role of managing director and will be responsible for the expansion of GMAC UK and the General Motors brands – Vauxhall, Saab, Chevrolet, Corvette, Cadillac and Hummer.

Foley will continue in his role as European brand relationship manager.
Ed Paulat, managing director for GMAC UK, will continue to be responsible for all other operational and risk management functions.
Both Paulat and Foley will report to Carlos Ribeiro, vice president of GMAC European operations.
“I’m delighted to be involved in continuing to build relationships with our GM dealers and customers,” said Foley.
“In 2008, we will aim to achieve strong sales objectives, maximising new car finance offers and improving upon our F&I strategy in the showroom.”

DATED: 11.01.08

FEED: MT

Tata has hit back at suggestions it would struggle to take on the Jaguar and Land Rover brands.
Chairman Ratan Tata told the Financial Times his group would make a better owner of Jaguar and Land Rover than Ford.

Tata dismissed concerns that the lower-end carmaker would add little value to the luxury marques and said it would keep its luxury sector separate from the existing range.

DATED: 11.01.08

FEED: MT

Jack Tordoff, chairman of JCT600, has been awarded an MBE in the New Years Honours list for services to business and sport in Bradford.
JCT600 has been based in the city of Bradford for over 62 years and was set up by Tordoff’s father as Tordoff Motors in the 1940’s.

Tordoff junior joined the company as a trainee motor mechanic and ran the company for 44 years before handing over the business to his son John as chief executive.

DATED: 11.01.08

FEED: MT

Tata has finally unveiled the world’s cheapest car – the Nano.
Launched at the Delhi Auto Show in India today, the ‘people’s car’ will retail with a starting price of 100,000 Rupees (£1,250).

The company will also offer more expensive versions with features such as air conditioning and will start sales later this year. The Nano is 10 feet long, has four doors, can accommodate four people and can reach speeds of 65 mph. Ratan Tata, chairman of India’s largest carmaker, first promised to launch a cheap model around four years ago. The company expects annual demand to reach 1 million units but initial production will start at 250,000 models.

DATED: 11.01.08

FEED: MT

Updated:12:40, Thursday January 10, 2008

The Bank of England has resisted pressure to make the cost of borrowing cheaper and help struggling homeowners and businesses.

The decision to keep the base rate of interest at 5.5% comes despite calls for a cut from high street businesses.
Economists said the Bank's Monetary Policy Committee was facing one of its toughest decisions in years. Most believe interest rates will now fall in February.

DATED: 10.01.08

FEED: BoE

Inchcape has sold its five UK Vauxhall retail outlets to new dealer group Eden (GM) for £14.3m.
The acquisition is the first by Eden, which is a joint venture with Eden Automotive Investments and the Motors Holding division of Vauxhall Motors.

The Eden Group is owned by Graeme Potts, who was Inchcape UK and Europe managing director until late 2006.

DATED: 10.01.08

FEED: MT

Fears surrounding Indian carmaker Tata Motors’ expected acquisition Jaguar and Land Rover have escalated.
Credit rating firm Standard&Poors has put the company on “credit watch with negative implications” after concluding that the acquisition could have a negative impact on the company's corporate credit ratings.

Last week Ford singled out Tata as the official frontrunner for the British brands when it announced it had entered into “focused” talks with the carmaker.

DATED: 10.01.08

FEED: MT

Audi sold a record number of cars in the UK last year as sales crashed through the 100,000-unit barrier.
The 18 per cent increase over 2006 volumes meant the German brand achieved an end-of-year total of 100,864.

The result placed Audi well ahead of rival Mercedes-Benz, which racked up sales of 81,321 units, but well behind BMW, which recorded its seventh consecutive record sales year with 121,575 units.

DATED: 10.01.08

FEED: MT

Black Horse, the finance company, has announced that its managing director for the motor and leisure finance division is to leave the business.
John Woolley has held the position since March 2006 following a long career with the company and will leave in March this year.

It is not yet known if Woolley will remain within the industry and an announcement on his replacement is expected within the next few weeks.
David Oldfield, managing director for Lloyds TSB asset finance division, said: “John leaves us with our respect and thanks for his many years of service and we wish him well for whatever fresh challenges in his life he decides to take on.”

DATED: 09.01.08

FEED: MT

Despite the pessimistic outlook for the UK economy, sales of LCVs in 2007 suggest this sector of the automotive industry will continue to boost motor sales.
New SMMT figures show van registrations were up 3.2 per cent to a record 337,741 units in 2007, and December sales were up 3.5 per cent to 22,320.

The SMMT predicted good registration figures for 2008 with strong order books.

Directors at Lookers appear confident of the dealer group’s future as they continue to hoover up shares in the company, according to the Scotland on Sunday.
This follows share values dropping by 40 per cent, which was attributed to investors reacting to a profits warning from competitor Pendragon and fears over consumer spending.

Directors including Motherwell-based Taggart Group, believe the current £200m market valuation fails to recognise Lookers' potential.Non-executive director Tony Bramall recently increased his stake with a purchase of 30,000 shares at 104p. Three other directors have also increased their holdings since the beginning of December, spending more than £100,000 between them.With the dealer group due to enter its close period for dealings ahead of final results, the purchases could affect the overall standing of the company.

DATED: 09.01.08

FEED: MT

Cambria Automobiles has acquired the Summit Auto Group in a multi-million pound deal.
The acquisitive Cambria, which was launched by private equity firm Promethean Investments in 2006, has bought 15 sites for an undisclosed sum.

The deal will see Cambria's annual turnover swell from £40m to around £250m and places the business among the top 30 car dealer groups in the country.

DATED: 07.01.08

FEED: MT

Tata is expected to appoint a senior Ford executive to run Jaguar and Land Rover should it succeed in acquiring the two brands.
According to the Sunday Times, senior industry sources have claimed that owner Rajan Tata is likely to name a top Ford executive in Europe as chief executive of the Jaguar-Land Rover group.

Geoff Polities, an Australian car-industry veteran, currently holds the chief executive role.
It is believed that Tata plans to make few immediate changes to the way the British brands operate and will keep UK operations and current model plans intact.

DATED: 07.01.08

FEED: MT

The Renault Group’s worldwide sales increased by 2.2 per cent in 2007 to 2,487,453 units, with its share of the world market reaching 3.6 per cent.
The Group continued to expand internationally, increasing sales outside Europe by 16.5 per cent to 863,187 units, which represented nearly 35 per cent of its total vehicle sales.

In the competitive European market Renault Group sales (car and LCV) fell 4.1 per cent to 1,624,266 units during the first part of the year.
The group returned to growth in the second half of the year, and sales were up 4.8 per cent in the fourth quarter.

DATED: 07.01.08

FEED: MT