Friday, March 14, 2008
Macgowan takes helm of BEN
Christopher Macgowan is to become interim chief executive of motor industry charity BEN as current incumbent Gerard Barclay has decided to leave.
Macgowan will head the charity until a permanent successor can be appointed. He will also remain as BEN's president until September, when he is due to step down.
Christopher Macgowan commented: “On behalf of the BEN Board I want to thank Gerard for his commitment over the last five years. All of us involved in BEN know that the work we do is of vital importance and Gerard is leaving BEN with our reputation rightly at a high level and our finances in good order.”
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Macgowan will head the charity until a permanent successor can be appointed. He will also remain as BEN's president until September, when he is due to step down.
Christopher Macgowan commented: “On behalf of the BEN Board I want to thank Gerard for his commitment over the last five years. All of us involved in BEN know that the work we do is of vital importance and Gerard is leaving BEN with our reputation rightly at a high level and our finances in good order.”
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DVLA made £9m selling motorists' details
The Driving and Vehicle Licensing Agency (DVLA) has made more than £9m by selling motorists' personal details.
For £2.50, car parking and clamping firms can buy personal records of motorists staying too long on their property.
The DVLA has earned £9m through the practice since 2002. In 2007 alone, it pulled £3.7m by selling the names and addresses of more than 1.3 million registered vehicle owners to private companies.
Mike Hancock, MP for Porstmouth South said: "I think the figures are outrageous. I don't think they should be allowed to sell people's personal details and I think the government should step in now to stop it.
"This is an alarming trend where peole's information is being used to make profits. It's an utter disgrace."
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For £2.50, car parking and clamping firms can buy personal records of motorists staying too long on their property.
The DVLA has earned £9m through the practice since 2002. In 2007 alone, it pulled £3.7m by selling the names and addresses of more than 1.3 million registered vehicle owners to private companies.
Mike Hancock, MP for Porstmouth South said: "I think the figures are outrageous. I don't think they should be allowed to sell people's personal details and I think the government should step in now to stop it.
"This is an alarming trend where peole's information is being used to make profits. It's an utter disgrace."
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Gerard Barclay steps down as CEO of BEN
The Automotive Industry Charity, has announced that after almost 5 years' service Gerard Barclay will be standing down as Chief Executive. Barclay said,"We have established a management team at BEN who is more than able to progress the many exciting initiatives both in fundraising and service provision. The financial position has been stabilised and will show a significant improvement in the order of £1 million on last year."
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The Great Green Fuel Gamble
With 620 million cars worldwide and fossil fuels running out, are biofuels the green solution to our energy needs? Now there's a revolution going on in the garages of the UK as individuals and companies switch to biofuels. Retired teacher Dick Jones makes his own biofuel, to power his people carrier from the local pub's converted chip fat. Although the chemicals involved are potentially dangerous, the rewards can be worth it. Jones says he likes "the idea of using a waste product to make oil, and I like the idea of being energy independent, but it also saves a lot of money". It costs him some £21 for a tank of home-made bio-diesel, compared with £80 at the garage.
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Lookers warns of tough year ahead
Lookers, one of the UK's largest car dealership groups, has warned of a challenging year ahead for car sales. However, the company believes the diversity of its business, which also includes used car supermarkets and a parts business, will protect revenues. The company, which has 141 dealerships following its acquisition of the Dutton Forshaw business last year, reported pre-tax profits up 7% to £23.1 million for the 12 months to December 31 on turnover of £1.68 billion. While the motor industry is bracing itself for a decline in new car sales amid economic uncertainty, Lookers believes its parts business will help protect profits. This is because the company believes that car owners will spend more on maintaining their vehicles instead of replacing them with newer models.
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Thursday, March 13, 2008
Car depreciation rates worsening
The current economic uncertainty, coupled with green taxes, are making car depreciation rates worse, according to motor industry analysts. Analysts EurotaxGlass's have told the BBC the value of used cars will fall by an additional 8% this year. Big family cars, which traditionally lose most value, and four-wheel drive vehicles are worst affected. By comparison, say the experts, fuel efficient cars and smaller vehicles are holding their value better.
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Rolls-Royce chief joins BMW board
The chief executive of Rolls-Royce Motor Cars, Ian Robertson, has been appointed as sales and marketing director for parent company BMW Group. The move makes him the first Briton to join BMW's board of directors, a Rolls-Royce official told the BBC. Mr Robertson, who used to head up BMW's operations in South Africa, replaces Stefan Krause who will join Deutsche Bank as chief financial officer (CFO). Mr Krause had in the past been tipped as a possible chief executive of BMW.
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HR Owen shares attracting interest down under
HR Owen, the prestigious London car retail group run by Nick Lancaster, is in play with big blocks of shares being scooped up by a wealthy car dealer running a string of retailers in Australia.
The buyer is Neville Crichton of Ateco Automotive which imports luxury and sports cars into New Zealand and Australia. The shares have been acquired through his holding company, Balverona. Stock Exchange records show that he has built a stake of more than 27% making him the largest single shareholder.
He has paid as much as £1.50 a share compared with the prevailing market price of 145p, and an asset value at under 60p according to the published balance sheet of last June. He is a keen ocean racing yachtsman and has been quoted by financial newswires as saying that he is “not making a bid at this point” but rates HR Owen as “the Harrods of the car business in the UK.”
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The buyer is Neville Crichton of Ateco Automotive which imports luxury and sports cars into New Zealand and Australia. The shares have been acquired through his holding company, Balverona. Stock Exchange records show that he has built a stake of more than 27% making him the largest single shareholder.
He has paid as much as £1.50 a share compared with the prevailing market price of 145p, and an asset value at under 60p according to the published balance sheet of last June. He is a keen ocean racing yachtsman and has been quoted by financial newswires as saying that he is “not making a bid at this point” but rates HR Owen as “the Harrods of the car business in the UK.”
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Law: Facebook top of the taxman’s reading list
Facebook and other social networking websites are being targeted by the tax authorities.
In Ireland , the Revenue Commissioners, similar to the UK ’s Revenue & Customs, admitted that tax inspectors gathered information on taxpayers from sites like Facebook.
The argument is that people are more informal about what they say on these sites and let their guard down.
Personal information gathered from Facebook, LinkedIn and Xing was presented recently in a tax audit in Ireland .
This represents another facet on the revenue authorities’ search for information.
The Revenue & Customs recently paid £100 million for details of the bank accounts held by British citizens in Liechtenstein.
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In Ireland , the Revenue Commissioners, similar to the UK ’s Revenue & Customs, admitted that tax inspectors gathered information on taxpayers from sites like Facebook.
The argument is that people are more informal about what they say on these sites and let their guard down.
Personal information gathered from Facebook, LinkedIn and Xing was presented recently in a tax audit in Ireland .
This represents another facet on the revenue authorities’ search for information.
The Revenue & Customs recently paid £100 million for details of the bank accounts held by British citizens in Liechtenstein.
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Lookers will close deal on VW outlets
Lookers is expected to close a deal for two Volkswagen outlets by the end of the month.
Ken Surgenor, Lookers chief executive, said the German marque was an obvious gap in its portfolio, but has not yet identified a seller.
The Manchester-based company is also looking to add BMW dealerships to its current relationships with 31 manufacturers, reported The Daily Mail.
Following on from its financial results released yesterday, which saw a seven per cent increase in pretax profits for 2007, Surgenor said the parts business would help protect its bottom line from the downturn in new car sales expected this year.
He added that customers holding back from replacing their cars would result in higher maintenance spends on existing vehicles.
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Ken Surgenor, Lookers chief executive, said the German marque was an obvious gap in its portfolio, but has not yet identified a seller.
The Manchester-based company is also looking to add BMW dealerships to its current relationships with 31 manufacturers, reported The Daily Mail.
Following on from its financial results released yesterday, which saw a seven per cent increase in pretax profits for 2007, Surgenor said the parts business would help protect its bottom line from the downturn in new car sales expected this year.
He added that customers holding back from replacing their cars would result in higher maintenance spends on existing vehicles.
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Used car prices will drop
Used car values will fall by eight per cent this year, according to Eurotaxglass.
Car depreciation rates are worsening in general, thanks to current economic instability and green taxes.
Large family cars and 4WD vehicles are worst affected, while fuel efficient cars and smaller vehicles continue to hold value better.
Eurotaxglass suggests that the increased rate of borrowing, stagnant house prices and the credit crunch have now spread to the car market.
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Car depreciation rates are worsening in general, thanks to current economic instability and green taxes.
Large family cars and 4WD vehicles are worst affected, while fuel efficient cars and smaller vehicles continue to hold value better.
Eurotaxglass suggests that the increased rate of borrowing, stagnant house prices and the credit crunch have now spread to the car market.
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Budget 2008: Industry reaction
The automotive industry has hit back at the government's plans to introduce further tax hikes on the most polluting vehicles.
The SMMT said taxes on higher emitting vehicles had little effect on CO2 emissions and created an “unwelcome market distortion”.
“Introducing what is effectively a sales tax for many new cars is a retrograde step,” said SMMT chief executive Paul Everitt. “Trying to force people out of high-value cars has no environmental merit and will be seen as a smokescreen for revenue-raising.”
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Cars to display "lifetime" sticker price
The “lifetime” cost of cars may soon be listed next to sticker prices in showrooms if a government suggestion comes into practice, according to the BBC.
In a report published alongside yesterday’s budget, Professor Julia King called for the price of running and maintaining a vehicle for at least ten years to be listed in dealerships.
The government hopes this would show drivers that cleaner cars can be kind to their wallets as well as the environment.
At the moment, new car buyers are told only the cost of owning a car for a year
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Fiat opens flagship London showroom
Fiat has opened the doors to its new flagship showroom in the capital.
The multi-million pound site in Wigmore Street, central London, features a distinctive interior of chrome and glass.
To mark the occasion Fiat opened the showroom with a design exhibition and celebrity party.
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Car retailing heading for toughest year since 90s
The UK car retailing sector is heading for its worst year since the early 1990s as car buyers increasingly feel the economic pinch, according to a leading automotive economist.
“The market this year and next year will be difficult – probably the most difficult year in the car market since 1991,” said Professor Garel Rhys, president of the Institute of the Motor Industry.
“Anyone under the age of 35 will not have experienced anything like this.”
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Sytner is the fourth best big company to work for
The Sytner Group has been ranked the fourth best big company to work for in the Sunday Times guide for 2008.
The Sunday Times 20 Best Big Companies to Work For guide was created four years ago and Sytner has moved into the top category having taken its workforce above 5,000.
The results showed 81 per cent of staff believed managers talk openly and honestly with them, 76 per cent said managers regularly expressed appreciation for their work, and 76 per cent also said they were confident in the leadership skills of senior management.
The IMI applauded the Sytner Group’s recognition. “The group has bucked the trend for high staff turnover in our sector, proving that a culture which recognises staff achievements increases their loyalty,” said IMI chief executive Sarah Sillars.
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Wednesday, March 12, 2008
Call to show car 'lifetime price'
Drivers should be helped to see that a "cleaner" car is good for their bank balance as well as the environment, a UK government adviser has said. In a report to be published alongside the Budget, Prof Julia King wants the lifetime costs of running a car to be prominently displayed in the showroom. Currently, new car buyers are told the cost of owning a car for a year. But Prof King argues it would be more persuasive to show running costs for a decade or longer. The report says a 4.4 litre petrol Range Rover, driven 12,000 miles a year for 10 years, would cost more than £35,000 in petrol and vehicle excise duty. Another family car - a diesel Peugeot 307 - would cost around £11,000.
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Large car tax hit in budget
Drivers of larger vehicles will be hit with increased car tax, following on from Chancellor Alistair Darling’s budget announcement.
But the rise in fuel duty, expected to rise by 2p on April 1, has been postponed until the autumn.
From April 2009, new car buyers with CO2 above 160g/km will have to pay a supplement to vehicle excise duty (VED). For cars emitting more than 255g/km CO2 this rises to £950 (of which £455 is VED).
From April 2010, there will be a new first-year rate based on carbon dioxide emissions of the car. Cars that emit less than the proposed 130 g/km will pay no car tax at all in the first year. But a higher first year rate will be introduced on the most polluting cars.
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But the rise in fuel duty, expected to rise by 2p on April 1, has been postponed until the autumn.
From April 2009, new car buyers with CO2 above 160g/km will have to pay a supplement to vehicle excise duty (VED). For cars emitting more than 255g/km CO2 this rises to £950 (of which £455 is VED).
From April 2010, there will be a new first-year rate based on carbon dioxide emissions of the car. Cars that emit less than the proposed 130 g/km will pay no car tax at all in the first year. But a higher first year rate will be introduced on the most polluting cars.
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Looker's operating profit up by 20 per cent
Lookers' profit from operations is up a fifth from the previous year, according to its preliminary results for year ending 31 December 2007.
Profit from operations was £38.3 million in 2007 compared to £31.7 million in 2006.
Across the group, turnover was up 17 per cent to £1.68 billion from £1.43 billion the previous year.
Basic earnings per ordinary share rose 12 per cent to 9.09p (2006:8.13p), while total dividend increased 15 per cent to 4.02p, against 3.50p in 2006.
New car sales represented only 30 per cent of gross profit, demonstrating Lookers' strategy to broaden its revenue streams.
Ken Surgenor, Lookers' chief executive said: "I am pleased to report a year of steady progress for Lookers in line with market expectations.
"These results are testament to our succsesful strategy of having a diversified business model from which we continue to enjoy broad revenue streams.
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Profit from operations was £38.3 million in 2007 compared to £31.7 million in 2006.
Across the group, turnover was up 17 per cent to £1.68 billion from £1.43 billion the previous year.
Basic earnings per ordinary share rose 12 per cent to 9.09p (2006:8.13p), while total dividend increased 15 per cent to 4.02p, against 3.50p in 2006.
New car sales represented only 30 per cent of gross profit, demonstrating Lookers' strategy to broaden its revenue streams.
Ken Surgenor, Lookers' chief executive said: "I am pleased to report a year of steady progress for Lookers in line with market expectations.
"These results are testament to our succsesful strategy of having a diversified business model from which we continue to enjoy broad revenue streams.
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Fiat opens flagship London showroom
Fiat UK has opened its flagship store in London's West End. It is marking the occasion with a design exhibition and celebrity party.
The showroom, located on Wigmore Street, W1, has an interior of chrome and glass.
The Italian car manufacturer is hoping to establish the store as a cool place for car buyers and Fiat enthusiasts. It is also being marketed as a venue for corporate meetings, fashion shows, art and design exhibitions, and as a set for film makers.
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The showroom, located on Wigmore Street, W1, has an interior of chrome and glass.
The Italian car manufacturer is hoping to establish the store as a cool place for car buyers and Fiat enthusiasts. It is also being marketed as a venue for corporate meetings, fashion shows, art and design exhibitions, and as a set for film makers.
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NFDA attracts Arnold Clark
Arnold Clark has joined the RMIF’s National Franchised Dealers Association because its retail operations in England are becoming increasingly important.
Eddie Hawthorne, managing director, said: “Sales south of the border account for about 25% of our turnover and will increase. We are talking to a number of companies about possible acquisitions and also building a used car operation at Stafford that will open this year.”
Hawthorne said he was attracted by the NFDA’s strong stance on preparation for the next EC Block Exemption review in 2010. He has accepted an invitation to join the NFDA’s executive committee and will attend his first meeting next month (April).
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Eddie Hawthorne, managing director, said: “Sales south of the border account for about 25% of our turnover and will increase. We are talking to a number of companies about possible acquisitions and also building a used car operation at Stafford that will open this year.”
Hawthorne said he was attracted by the NFDA’s strong stance on preparation for the next EC Block Exemption review in 2010. He has accepted an invitation to join the NFDA’s executive committee and will attend his first meeting next month (April).
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Porsche set for court over c-charge row
Porsche is to take Mayor Ken Livingstone to court over the £25 congestion charge increase.
The luxury carmaker has followed through on its threat to the Mayor of London’s office, which said it would apply for a judicial review in the High Court unless Livingstone reconsidered the charge.
Livingstone has not reconsidered and the increase for the most polluting vehicles driven in central London will go into effect this autumn.
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Peugeot creates new European dealer business
Peugeot has created a new European unit to coordinate its factory owned sites and it is being headed by the former chief executive of Robins and Day, the carmaker’s UK owned dealer group. British born Rick Cawley has already been appointed as the chief executive of the unit, having only moved from Robins and Day in February to head up the brand’s UK fleet operations.
The new unit is based in Peugeot’s Paris headquarters and Cawley reports directly into director general Jean-Philippe Collin.
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Lookers posts 7 per cent profits rise
Lookers, ranked 5th in the Motor Trader Top 200, has posted a 7 per cent hike in pre-tax profits to £23m for 2007.
Operational profit before exceptional items rose 9 per cent to £40m on turnover of £1.68bn – a 17 per cent increase on 2006.
The group claimed it had made “steady progress” in a year in which it boosted its portfolio with the £55m acquisition of the Dutton Forshaw Group in October.
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Audi sales soar to a record £28bn
The Audi Group recorded a 7.9 per cent rise in revenues last year to reach a record €33.6bn (£28bn). Full-year operating profit rose to €2.7bn from €2bn a year earlier as pre-tax profit soared by almost 50 per cent to €2.9bn.
Audi said it sold 964,000 vehicles worldwide in 2007 – a year-on-year increase of 6.5 per cent – and achieved record sales in over 50 markets.
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Carter & Carter goes into administration
Training company throws in the towel after a rocky 10 months
Carter & Carter, the leading motor industry training company and former stock market star, has gone into administration.
While share prices were over £12 in April 2007, they plummeted in July and were suspended in October at 82.5 pence.
The appointment of administrators has come after the company issued three profit warnings in the 10 months following the death of founder Philip Carter, who was killed in a helicopter crash in May 2007.
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Porsche sees profits soar
Porsche has recorded pre-tax group profits of Euro 1.656bn (£1.262bn), up from last year’s result of Euro 1.341bn.
The luxury brand's financial records for the previous six months include the proportional VW result for the fourth quarter of 2006 of about Euro 272m.
Turnover grew by 14 per cent to Euro 13.49bn and sales reached 46,736 vehicles, up from 39,265 units the previous year.
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Chancellor to introduce car 'showroom tax' in Budget
A new 'showroom tax' that could add up to £2,000 to the price of the highest emission 'gas guzzlers' could be unveiled in tomorrow's (March 12) Budget. According to weekend newspapers the tax is one of the measures being considered by Chancellor of the Exchequer Alistair Darling in his first Budget. With 'green' taxes expected to be at the forefront of the Budget, the 'showroom tax' would be aimed at encouraging the increased uptake of low- emission cars. The new tax would be graduated and based on the existing seven Vehicle Excise Duty bands with high-emission cars attracting the heaviest tax. However, some petrol versions of family cars produced by mainstream manufacturers such as Ford and Vauxhall fall in the higher VED brackets. However, The Times has suggested that any move to target high emission cars with increased taxes could be delayed for at least a year.
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Monday, March 10, 2008
BMW to make fewer cars in Europe
The luxury carmaker BMW is expected to unveil details of radical plans to ramp up production in the US later. The firm is currently battling against rising costs, which are priced in euros, and flagging US demand. BMW recently announced plans to cut 7.5% of its German workforce by the end of the year. Since last September, the dollar has tumbled against the euro, hurting firms that pay their costs in euros but receive payment in dollars. The euro touched an all-time high of $1.546 last week after punching through the $1.50 level at the end of February.
DATED: 10.03.08
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Carter & Carter to call in administrators
Indebted training group Carter & Carter is entering administration today following unsuccessful talks with its bankers. The group, which operates 10,000 apprenticeships and training courses for numerous carmakers, announced this morning that its lenders have not agreed to its restructuring plan.
It had hoped to increase its borrowing to £175m this summer to give it operating cashflow while it turns the business around. It is already £129m in debt, and is subject to a financial investigation by its auditors.
As a result of the talks ending without success, said Carter & Carter, the group is unable to meet its cash needs in the short term, and the company has consequently instructed its lawyers to file a notice of intention to appoint administrators over the company.
Chairman Rodney Westhead told AM he expects Lloyds to be appointed administrator within 24 hours. Staff have been asked to continue teaching until further notice, although it is not clear whether there are funds to pay them.
Westhead added: "It's bitterly disappointing. Fundamentally the lenders thought that the ask of them in terms of money was too great a risk. We clearly thought it wasn't going that way. Talks had been progressing and progressing."
The group had cut its training and support staff by 300 to 400 people in the last six months, and Westhead said it was now at a position where its board had felt it could continue trading.
Westhead said the company will seek to work closely with the administrators, the Learning and Skills Council, and the Department for Work and Pensions to minimise the effect on learners, clients and employees.
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It had hoped to increase its borrowing to £175m this summer to give it operating cashflow while it turns the business around. It is already £129m in debt, and is subject to a financial investigation by its auditors.
As a result of the talks ending without success, said Carter & Carter, the group is unable to meet its cash needs in the short term, and the company has consequently instructed its lawyers to file a notice of intention to appoint administrators over the company.
Chairman Rodney Westhead told AM he expects Lloyds to be appointed administrator within 24 hours. Staff have been asked to continue teaching until further notice, although it is not clear whether there are funds to pay them.
Westhead added: "It's bitterly disappointing. Fundamentally the lenders thought that the ask of them in terms of money was too great a risk. We clearly thought it wasn't going that way. Talks had been progressing and progressing."
The group had cut its training and support staff by 300 to 400 people in the last six months, and Westhead said it was now at a position where its board had felt it could continue trading.
Westhead said the company will seek to work closely with the administrators, the Learning and Skills Council, and the Department for Work and Pensions to minimise the effect on learners, clients and employees.
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Chrysler boss plans UK changes
Chrysler’s UK managing director Simon Elliott has admitted that the current range is confusing and needs rationalising. In an apparent criticism of his predecessor Peter Lambert, who left the company last October, Elliott said the group had failed in the past two years to offer a cohesive model line-up or clearly define the Chrysler, Jeep and Dodge brands.
He said the retro-styled Chrysler PT Cruiser was being dropped as part of a review of the existing model mix but would not disclose which other models could go.
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General Motors boss gets pay rise
General Motors has restored chief executive Rick Wagoner’s base salary to the level it was before he took a 50 per cent pay cut in 2006.
Two years ago, Wagoner agreed to the cut as in an attempt to improve finances for the then struggling US giant.
According to the recent decision by the board of directors, Wagoner will make $2.2m (£1.09m) in 2008.
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Carmakers to boost standard equipment levels
Carmakers are set poised to include more advanced technology in their cars as standard, with both Volkswagen and PSA Peugeot Citroen announcing significant additions to their future model line-ups. Volkswagen has announced that its Electronic Stabilisation Program (ESP) will become standard on every 2009 vehicle - the first time a non-luxury manufacturer has offered this.
The National Highway Traffic Safety Administration predicts nearly 10,000 lives could be saved each year if all carmakers included electronic stabilisation systems as standard equipment.
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Tata seeks $3bn to fund Jag & LR deal
After emerging as the top bidder for Ford’s brands, the Indian carmaker has assigned its financial advisors Citigroup and JP Morgan to arrange the funding with a range of other international and domestic banks.
After emerging as the top bidder for Ford’s brands, the Indian carmaker has assigned its financial advisors Citigroup and JP Morgan to arrange the funding with a range of other international and domestic banks.
The loan is larger than anticipated, as the purchase of the two carmakers has been estimated to be worth around $2bn.
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Poor discipline will impact on business
Staff discipline is a matter that management can’t ignore, whether it involves a sales executive or a bodyshop technician. Avoiding the procedure can result in poor business performance and low morale in employees.
Clive Harding, Vertu Motors HR director, said: “The disciplinary procedure is about trying to modify behaviour for the benefit of the company and the individual.
“The two key problems are under-performance and poor behaviour.
“Performance is so key to the success of the business – if an employee can not improve with support and training, then we can not tolerate that. I think a business has every right to take that attitude.”
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Clive Harding, Vertu Motors HR director, said: “The disciplinary procedure is about trying to modify behaviour for the benefit of the company and the individual.
“The two key problems are under-performance and poor behaviour.
“Performance is so key to the success of the business – if an employee can not improve with support and training, then we can not tolerate that. I think a business has every right to take that attitude.”
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Toyota launches iQ city car
Toyota unveiled two all-new cars in Geneva with the formal launch of its iQ city model and the Urban Cruiser mini-SUV.
The launches are part of an 18 model rollout planned for the Toyota and Lexus brands in 2009.
The iQ, which was shown as a concept at last year's Frankfurt Motor Show, is just 3m long and provides a 3+1 seating configuration.
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Mazda primed for UK sales boost
Mazda’s UK sales will be significantly boosted by the arrival of the new Mazda 2 three-door variant which the brand predicts will become the biggest selling range in its line-up.
The supermini, which shares much of its sub structure with the new Ford Fiesta, was revealed in Geneva and reaches UK dealers in May.
“We launched in September and it’s running at 140 per cent of our sales objectives,” said Rob Lindley, managing director.
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Kia bares its soul in Geneva
Motor show sees debut of three new concept models
Kia revealed three concepts based on its Soul design in Geneva alongside two Eco-Ceed concepts.
The Soul models - Diva, Burner and Searcher - were penned by Kia’s European design team under the guidance of chief design officer, Peter Schreyer, the design guru behind both the Beetle and TT
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New Ford Fiesta to set standards
Ford’s new generation Fiesta was the most significant mainstream launch of this year’s Geneva Motor Show, with the blue oval’s new generation supermini expected to set new class benchmarks.
The car, which is heavily based on the popular Verve concept, was shown in both three- and five-door derivatives with Ford confirming the range will go on sale in UK dealerships in the autumn.
Speaking at the show UK chairman and chief executive Roelant de Waard underlined the importance of the new car for dealers saying it would give them profitable conquest sales.
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The car, which is heavily based on the popular Verve concept, was shown in both three- and five-door derivatives with Ford confirming the range will go on sale in UK dealerships in the autumn.
Speaking at the show UK chairman and chief executive Roelant de Waard underlined the importance of the new car for dealers saying it would give them profitable conquest sales.
DATED: 10.03.08
FEED: MT
