Thursday, April 24, 2008
Inchcape: New Russian Acquisition
Inchcape has increased its presence in the burgeoning Russian car market with the acquisition of Musa Motors in a deal that could be worth up to $700m (£350m).
The agreement sees the global retailer pay an initial down payment of $200m for a 75.1 per cent stake in Musa but the total value could rise to $700m, depending on the group’s performance.
Inchcape will pay a further sum of up to $250m if the Russian group meets its 2008 targets and will then acquire the remaining 24.9 per cent stake after 2010 for up to $250m.
Musa Motors is ranked among Russia’s top ten dealer groups with 16 outlets representing predominantly luxury franchises, including BMW, Rolls-Royce and Jaguar.
DATED: 24.04.08
FEED: MT
The agreement sees the global retailer pay an initial down payment of $200m for a 75.1 per cent stake in Musa but the total value could rise to $700m, depending on the group’s performance.
Inchcape will pay a further sum of up to $250m if the Russian group meets its 2008 targets and will then acquire the remaining 24.9 per cent stake after 2010 for up to $250m.
Musa Motors is ranked among Russia’s top ten dealer groups with 16 outlets representing predominantly luxury franchises, including BMW, Rolls-Royce and Jaguar.
DATED: 24.04.08
FEED: MT
Ford goes green at Eden project
Eco-friendly Focus on display at Green Car Show
Ford is to exhibit what it describes as its most eco-friendly version of the Focus at The Co-operative Insurance Eden Sexy Green Car Show, held between 23-31 May at the Eden Project.
The low-emission Econetic trim has a 1.6 litre diesel engine producing 115g of CO2 p/km, with fuel economy of 66 miles per gallon.
Additionally, the car is being built at Ford’s wind-powered Dagenham diesel centre.
The show is now in its second year, with various carmakers displaying their environmentally-friendly technologies and models.
DATED: 24.04.08
FEED: MT
Ford is to exhibit what it describes as its most eco-friendly version of the Focus at The Co-operative Insurance Eden Sexy Green Car Show, held between 23-31 May at the Eden Project.
The low-emission Econetic trim has a 1.6 litre diesel engine producing 115g of CO2 p/km, with fuel economy of 66 miles per gallon.
Additionally, the car is being built at Ford’s wind-powered Dagenham diesel centre.
The show is now in its second year, with various carmakers displaying their environmentally-friendly technologies and models.
DATED: 24.04.08
FEED: MT
Aston Martin to attend Motorexpo
Aston Martin has announced it is to attend this year’s Motorexpo in Canary Wharf.
The luxury brand is the latest to confirm its attendance and follows BMW’s announcement earlier this week that it has also signed up to the London event.
While Aston Martin will attend Motorexpo, the carmaker has decided not to participate in this summer’s British International Motor Show, although it will be present in the event’s Supercar Paddock.
A spokesman for Aston Martin said that it had to carefully select the car shows it attended because of the size of the company.
“We’re a tiny independent company compared to some of our competitors and we have to pick very carefully what shows we do,” he said.
DATED: 24.04.08
FEED: MT
The luxury brand is the latest to confirm its attendance and follows BMW’s announcement earlier this week that it has also signed up to the London event.
While Aston Martin will attend Motorexpo, the carmaker has decided not to participate in this summer’s British International Motor Show, although it will be present in the event’s Supercar Paddock.
A spokesman for Aston Martin said that it had to carefully select the car shows it attended because of the size of the company.
“We’re a tiny independent company compared to some of our competitors and we have to pick very carefully what shows we do,” he said.
DATED: 24.04.08
FEED: MT
British-built cars: The top ten
Two thirds of motorists are more inclined to buy a vehicle that is manufactured in England than overseas, according to a new survey, but many are unaware which models are actually made in their homeland. In an attempt to clarify the issue motors.co.uk and vansunited.co.uk have created a “motoring honours list” to highlight the English-made vehicles featured on their sites.
The top ten list includes the Nissan Micra, made in Sunderland, the Honda Civic, made in Swindon, and the Vauxhall Astra, made in Ellesmere Port.
Other models calling England their home were the Vauxhall Vivaro, the Toyota Avensis, the Jaguar XF, Land Rover Freelander, Mini Cooper, Ford Transit Van and Aston Martin DB9.
DATED: 24.04.08
FEED: MT
The top ten list includes the Nissan Micra, made in Sunderland, the Honda Civic, made in Swindon, and the Vauxhall Astra, made in Ellesmere Port.
Other models calling England their home were the Vauxhall Vivaro, the Toyota Avensis, the Jaguar XF, Land Rover Freelander, Mini Cooper, Ford Transit Van and Aston Martin DB9.
DATED: 24.04.08
FEED: MT
Used car prices are at their most favourable in years.
Despite the current climate of economic uncertainty now is the ideal time to acquire a used car, according to research by EurotaxGlass’s.
Rather than reigning in spending, consumers should take advantage of weaker trade values in the used car market brought about by the March plate-change and bag themselves a bargain.
The analysts said the market had seen an influx of part-exchange cars and put residual values under pressure.
DATED: 24.04.08
FEED: MT
Rather than reigning in spending, consumers should take advantage of weaker trade values in the used car market brought about by the March plate-change and bag themselves a bargain.
The analysts said the market had seen an influx of part-exchange cars and put residual values under pressure.
DATED: 24.04.08
FEED: MT
Wednesday, April 23, 2008
Toyota is world's most valuable auto brand
Toyota is the most valuable car brand in the world, according to the BrandZ Top 100 survey.
The Japanese manufacturer came twelfth in the poll with a brand value of $35,134m (£17.5bn).
Google headed the list followed by General Electric and Microsoft.
The study said the car market suffered from hikes in the price of crude oil and raw materials, fluctuations in exchange rates, and structural changes in the demand for cars.
“The automotive industry is likely to continue to grow in emerging markets such as Asia and Latin America. In mature markets, car companies will need to incorporate new technologies to attract consumers and generate growth,” read the report.
BMW was 17th on the list, with a brand value of $28,015m, followed by Porsche in 28th position and Mercedes-Benz in 36th.
Other carmakers in the top 100 include Honda (37), Nissan (59), Ford (68), Chevrolet (69) and Volkswagen (96).
DATED: 23.04.08
FEED: MT
The Japanese manufacturer came twelfth in the poll with a brand value of $35,134m (£17.5bn).
Google headed the list followed by General Electric and Microsoft.
The study said the car market suffered from hikes in the price of crude oil and raw materials, fluctuations in exchange rates, and structural changes in the demand for cars.
“The automotive industry is likely to continue to grow in emerging markets such as Asia and Latin America. In mature markets, car companies will need to incorporate new technologies to attract consumers and generate growth,” read the report.
BMW was 17th on the list, with a brand value of $28,015m, followed by Porsche in 28th position and Mercedes-Benz in 36th.
Other carmakers in the top 100 include Honda (37), Nissan (59), Ford (68), Chevrolet (69) and Volkswagen (96).
DATED: 23.04.08
FEED: MT
VED bands will impact on residual values
Car dealers have been urged to take account of C02 ratings when sourcing used cars, or risk taking on hard-to-shift stock.
According to Cap Black Book’s operational development manager Mark Norman, the new VED bandings will seriously dent some used car values.
“The risk will increase dramatically when the new VED rates are introduced in 2009,” he said.
“It is therefore important to begin routinely including tax bands in the trade valuation process today to become fully prepared for new market conditions for older cars next year,” said Norman. Cap’s Black Book now includes VED rates and CO2 outputs for the first time.
Y-plate cars registered after 2001 will be included as part of the revised taxation rules which will see massive rises in the annual VED of some vehicles.
DATED: 23.04.08
FEED: MT
According to Cap Black Book’s operational development manager Mark Norman, the new VED bandings will seriously dent some used car values.
“The risk will increase dramatically when the new VED rates are introduced in 2009,” he said.
“It is therefore important to begin routinely including tax bands in the trade valuation process today to become fully prepared for new market conditions for older cars next year,” said Norman. Cap’s Black Book now includes VED rates and CO2 outputs for the first time.
Y-plate cars registered after 2001 will be included as part of the revised taxation rules which will see massive rises in the annual VED of some vehicles.
DATED: 23.04.08
FEED: MT
Rolls-Royce appoints new chief executive
Rolls-Royce Motor Cars has appointed Tom Purves as its new chief executive.
He replaces Ian Robertson who left to take up a position on the BMW board earlier this year.
Purves is currently chairman and chief executive of BMW (US) Holding Corporation, a position he has held since May 1999, and he is also president of BMW of North America.
Purves will take up the reigns this summer He joined the BMW Group in 1985 as sales director for its British business and in 1996 became a Rover board member, responsible for the global sales and marketing of Land Rover, Mini, MG and Rover. Purves takes up his new position in July. Ian Robertson will remain as Rolls-Royce chairman. “It has been a pleasure to see Rolls-Royce flourish under the ownership of BMW Group,” said Purves. “I am delighted to be taking the helm at Goodwood as the company continues to develop with the upcoming launch of the Phantom Coupé and, most significantly, the introduction of RR4 in 2010.”
DATED: 23.04.08
FEED: MT
He replaces Ian Robertson who left to take up a position on the BMW board earlier this year.
Purves is currently chairman and chief executive of BMW (US) Holding Corporation, a position he has held since May 1999, and he is also president of BMW of North America.
Purves will take up the reigns this summer He joined the BMW Group in 1985 as sales director for its British business and in 1996 became a Rover board member, responsible for the global sales and marketing of Land Rover, Mini, MG and Rover. Purves takes up his new position in July. Ian Robertson will remain as Rolls-Royce chairman. “It has been a pleasure to see Rolls-Royce flourish under the ownership of BMW Group,” said Purves. “I am delighted to be taking the helm at Goodwood as the company continues to develop with the upcoming launch of the Phantom Coupé and, most significantly, the introduction of RR4 in 2010.”
DATED: 23.04.08
FEED: MT
Kia the victim of online scam
Kia is the victim of a scurrilous online marketing scam.
An email is randomly targeting motorists informing them they have won a Kia car and then asking for their personal finance details. Kia is warning motorists of the scam where email recipients are advised they have won up to £750,000 prize money and a free car in a lottery, and are then invited to provide various personal information including bank details.
The contact details include the name The Kia Company and e-mail and telephone numbers in the UK. A spokesman for Kia Motors (UK), said: "We have never run an e-mail lottery. This is a despicable scam being carried out on unwitting members of the public by thieves.”
He said the people behind the hoax lottery may be based abroad, and that the manufacturer was working with the authorities to trace those responsible for the scam.
DATED: 23.04.08
FEED: MT
An email is randomly targeting motorists informing them they have won a Kia car and then asking for their personal finance details. Kia is warning motorists of the scam where email recipients are advised they have won up to £750,000 prize money and a free car in a lottery, and are then invited to provide various personal information including bank details.
The contact details include the name The Kia Company and e-mail and telephone numbers in the UK. A spokesman for Kia Motors (UK), said: "We have never run an e-mail lottery. This is a despicable scam being carried out on unwitting members of the public by thieves.”
He said the people behind the hoax lottery may be based abroad, and that the manufacturer was working with the authorities to trace those responsible for the scam.
DATED: 23.04.08
FEED: MT
Lexus GB appoints new director
Lexus (GB) has appointed Belinda Poole as director with overall responsibility for all Lexus operations in Great Britain.
She takes over from Steve Settle who moved to the position of customer services director for Lexus GB in January.
Poole joined Lexus GB from Lexus Europe last week which she joined in 2005, holding the positions of senior manager, Lexus marketing communications and media and more recently general manager Lexus operations.
DATED: 23.04.08
FEED: AM
She takes over from Steve Settle who moved to the position of customer services director for Lexus GB in January.
Poole joined Lexus GB from Lexus Europe last week which she joined in 2005, holding the positions of senior manager, Lexus marketing communications and media and more recently general manager Lexus operations.
DATED: 23.04.08
FEED: AM
