Friday, August 15, 2008
Oleg Deripaska denies Hummer talks with GM
Russian billionaire will not make takeover bid
Oleg Deripaska, the Russian billionaire linked with a bid for Hummer, yesterday denied he was seeking to acquire the brand from General Motors.
Talks with his Russian Machines car unit were only exploratory, according to Reuters, and it is unlikely a bid will be forthcoming.
"Russian Machines neither received any proposals to consider acquisition of the Hummer assets, nor is strategically interested in such a deal," said Russian Machines.
It is understood that if Deripaska were to make a bid he would want to involve Canadian auto parts giant Magna International in production of the vehicles.
GM, which has lost more than $51 billion over three years and is aiming to raise up to $4 billion through asset sales, has hired Citibank to consider options for the gas-guzzling Hummer.
The US carmaker is also believed to have held talks with Indian carmaker Mahindra & Mahindra about a possible deal.
DATED: 15.08.08
FEED: MT
Oleg Deripaska, the Russian billionaire linked with a bid for Hummer, yesterday denied he was seeking to acquire the brand from General Motors.
Talks with his Russian Machines car unit were only exploratory, according to Reuters, and it is unlikely a bid will be forthcoming.
"Russian Machines neither received any proposals to consider acquisition of the Hummer assets, nor is strategically interested in such a deal," said Russian Machines.
It is understood that if Deripaska were to make a bid he would want to involve Canadian auto parts giant Magna International in production of the vehicles.
GM, which has lost more than $51 billion over three years and is aiming to raise up to $4 billion through asset sales, has hired Citibank to consider options for the gas-guzzling Hummer.
The US carmaker is also believed to have held talks with Indian carmaker Mahindra & Mahindra about a possible deal.
DATED: 15.08.08
FEED: MT
Chrysler in US production talks with Fiat
US carmaker may build Fiat cars stateside
Fiat may use some of Chrysler’s idle North American factories to build vehicles, according to the Financial Times.
The Italian carmaker has confirmed is has had talks with Chrysler, and believes the move would help the Detroit-based manufacturer overcome its weak financial position by forging partnerships with other automotive companies.
Fiat has said it is considering assembling the Fiat 500 and an Alfa Romeo model in North America.
Nissan trucks and Volkswagen minivans are also set to be produced by Chrysler in the US and Canada, and the company has been pursuing more alliances in China, Russia, Latin America and India.
Chrysler has said it expected to start selling small cars in Latin America made by China’s Chery Automotive in 2009.
DATED: 15.08.08
FEED: MT
Fiat may use some of Chrysler’s idle North American factories to build vehicles, according to the Financial Times.
The Italian carmaker has confirmed is has had talks with Chrysler, and believes the move would help the Detroit-based manufacturer overcome its weak financial position by forging partnerships with other automotive companies.
Fiat has said it is considering assembling the Fiat 500 and an Alfa Romeo model in North America.
Nissan trucks and Volkswagen minivans are also set to be produced by Chrysler in the US and Canada, and the company has been pursuing more alliances in China, Russia, Latin America and India.
Chrysler has said it expected to start selling small cars in Latin America made by China’s Chery Automotive in 2009.
DATED: 15.08.08
FEED: MT
Cleland joins with IMI to champion skills for Scotland
Motor retailer and former British Touring Car champion John Cleland is backing the industry's drive to improve skills and win new recruits.
Cleland, dealer principal at Clelands Jaguar in Galashiels, has joined the Scottish Employers Forum of the Institute of the Motor Industry (IMI).
The IMI wants 40,000 ‘home grown’ apprentices working in the UK’s automotive sector by 2013, an increase of 100% on today’s figure.
Announcing Cleland’s membership of the IMI’s Scottish Employers Forum, Sandy Burgess, the IMI’s National Manager Scotland, said: "Being able to call on John's experience within championship motor sport gives us a unique edge and can only add value to our experienced group of employers, which are working together to help raise skills standards within our industry to improve future business performance."
The IMI's Scottish Employers Forum has over twenty-five members representing a cross-section of Scotland’s retail motor sector, including dealer groups, public utility and delivery companies, small and medium sized garages, and representatives from industry dealer associations.
It meets three times per year to discuss ways of developing workforce skills and associated benefits for the Scottish motor industry.
The IMI welcomes all businesses which would like to take part and they are invited to contact Sandy Burgess via email sandyb@motor.org.uk for further details.
Additionally, the IMI will be exhibiting at the Scottish Learning Festival 2008 which takes place on 24-25 September at the SECC and Clyde Auditorium in Glasgow.
Free to all teachers and educationalists, the Scottish Learning Festival 2008 is the largest annual conference and exhibition on the Scottish education calendar.
DATED: 15.08.08
FEED: AM
Cleland, dealer principal at Clelands Jaguar in Galashiels, has joined the Scottish Employers Forum of the Institute of the Motor Industry (IMI).
The IMI wants 40,000 ‘home grown’ apprentices working in the UK’s automotive sector by 2013, an increase of 100% on today’s figure.
Announcing Cleland’s membership of the IMI’s Scottish Employers Forum, Sandy Burgess, the IMI’s National Manager Scotland, said: "Being able to call on John's experience within championship motor sport gives us a unique edge and can only add value to our experienced group of employers, which are working together to help raise skills standards within our industry to improve future business performance."
The IMI's Scottish Employers Forum has over twenty-five members representing a cross-section of Scotland’s retail motor sector, including dealer groups, public utility and delivery companies, small and medium sized garages, and representatives from industry dealer associations.
It meets three times per year to discuss ways of developing workforce skills and associated benefits for the Scottish motor industry.
The IMI welcomes all businesses which would like to take part and they are invited to contact Sandy Burgess via email sandyb@motor.org.uk for further details.
Additionally, the IMI will be exhibiting at the Scottish Learning Festival 2008 which takes place on 24-25 September at the SECC and Clyde Auditorium in Glasgow.
Free to all teachers and educationalists, the Scottish Learning Festival 2008 is the largest annual conference and exhibition on the Scottish education calendar.
DATED: 15.08.08
FEED: AM
Man U players splash out on new cars
Luxury car dealers in Cheshire are unlikely to be struggling, if Manchester United players’ vehicles are anything to go by.
Arriving at the training ground this week, eight players turned up in premium new cars.
These included striker Wayne Rooney in a BMW X5, Rio Ferdinand in a silver Mercedes DTM AMG and Carlos Tevez in a white Bentley Continental GT.
Audi proved popular with Paul Scholes and Owen Hargreaves who showed up in S8s and captain Gary Neville who appeared in a Q7.
Between the eight players, the bill is likely to have been pushing one million pounds.
Cristiano Ronaldo resisted the trend to show off his new car, reportedly a £340,000 Rolls Royce Phantom, and turned up in his ‘old’ Bentley Continental GTC.
DATED: 15.08.08
FEED: AM
Arriving at the training ground this week, eight players turned up in premium new cars.
These included striker Wayne Rooney in a BMW X5, Rio Ferdinand in a silver Mercedes DTM AMG and Carlos Tevez in a white Bentley Continental GT.
Audi proved popular with Paul Scholes and Owen Hargreaves who showed up in S8s and captain Gary Neville who appeared in a Q7.
Between the eight players, the bill is likely to have been pushing one million pounds.
Cristiano Ronaldo resisted the trend to show off his new car, reportedly a £340,000 Rolls Royce Phantom, and turned up in his ‘old’ Bentley Continental GTC.
DATED: 15.08.08
FEED: AM
Mitsubishi cuts car prices
Mitsubishi has slashed its prices until October, with up to £5,000 off a new car.
Top discounts are available on two models of the Shogun – LWB Elegance and LWB Diamond.
All Colt CZ1 derivatives are now available with a £1,000 customer saving, which mean the three-door is priced from £6,499.
Other models available in the sale include Grandis MPV, L200 Raging Bull and the previous generation Lancer.
Marketing for the sale campaign will be through radio, press and internet.
DATED: 15.08.08
FEED: AM
Top discounts are available on two models of the Shogun – LWB Elegance and LWB Diamond.
All Colt CZ1 derivatives are now available with a £1,000 customer saving, which mean the three-door is priced from £6,499.
Other models available in the sale include Grandis MPV, L200 Raging Bull and the previous generation Lancer.
Marketing for the sale campaign will be through radio, press and internet.
DATED: 15.08.08
FEED: AM
Caffyns in boardroom reshuffle
Dealer group announces a raft of board changes
Caffyns has announced a raft of changes to its board of directors following the retirement of chairman Brian Carte due to ill health.
The board has appointed Brian Birkenhead as chairman of the company and chairman of the nominations committee, succeeding Carte in both roles.
As a result, Birkenhead has stepped down as chairman of the audit committee, a role that has been filled by Andrew Goodburn who will also assume the role of senior independent director.
Nicholas Hollingworth has been appointed chairman of the remuneration committee.
The reshuffle came less than three weeks after the group’s management came under attack for its handling of the company.
But Caffyns denied the changes were linked to criticism of the business.
A spokesman for the group said the board changes were “not related” to pressure from a shareholders’ action group, led by investment house New Fortress, which called for the Caffyn family to give up its controlling interest in the eponymous group by relinquishing its second preference shares.
DATED: 15.08.08
FEED: MT
Caffyns has announced a raft of changes to its board of directors following the retirement of chairman Brian Carte due to ill health.
The board has appointed Brian Birkenhead as chairman of the company and chairman of the nominations committee, succeeding Carte in both roles.
As a result, Birkenhead has stepped down as chairman of the audit committee, a role that has been filled by Andrew Goodburn who will also assume the role of senior independent director.
Nicholas Hollingworth has been appointed chairman of the remuneration committee.
The reshuffle came less than three weeks after the group’s management came under attack for its handling of the company.
But Caffyns denied the changes were linked to criticism of the business.
A spokesman for the group said the board changes were “not related” to pressure from a shareholders’ action group, led by investment house New Fortress, which called for the Caffyn family to give up its controlling interest in the eponymous group by relinquishing its second preference shares.
DATED: 15.08.08
FEED: MT
General Motors in Hummer talks
Oleg Deripaska is considering a move for the SUV brand
General Motors has been in preliminary talks with Russian oligarch Oleg Deripaska about the possible sale of its Hummer brand.
GM has said it plans to raise up to $4bn (£2bn) through asset sales and has hired Citibank to assist its considerations of strategic options for Hummer.
While the giant SUV brand is not yet officially up for sale, the American carmaker in June said it was reviewing its ownership of the struggling gas-guzzler.
GM has lost more than $51bn over the past three years and with Hummer's main market in the US drying up – sales fell 40 per cent in the first half of the year – disposal of the brand seems inevitable.
Discussions between Deripaska and GM came following reports that the Russian billionaire had been in negotiations with the carmaker about its plans for expansion into Russia.
DATED: 15.08.08
FEED: MT
General Motors has been in preliminary talks with Russian oligarch Oleg Deripaska about the possible sale of its Hummer brand.
GM has said it plans to raise up to $4bn (£2bn) through asset sales and has hired Citibank to assist its considerations of strategic options for Hummer.
While the giant SUV brand is not yet officially up for sale, the American carmaker in June said it was reviewing its ownership of the struggling gas-guzzler.
GM has lost more than $51bn over the past three years and with Hummer's main market in the US drying up – sales fell 40 per cent in the first half of the year – disposal of the brand seems inevitable.
Discussions between Deripaska and GM came following reports that the Russian billionaire had been in negotiations with the carmaker about its plans for expansion into Russia.
DATED: 15.08.08
FEED: MT
Dealers get a bigger share of the finance market
Tougher lending conditions from high street banks has driven an increase in dealers successfully selling motor finance at point of sale.
The latest statistics from the Finance and Leasing Association show that in the year to June 2008, 50% of all new car purchases were bought using dealers' motor finance.
This is up from 46.2% a year ago.
The FLA said dealer finance continues to be an attractive option for car buyers as consumers find it more difficult to get credit elsewhere.
Because finance agreements are usually secured against the car, rather than rate-for-risk finance, this enables specialist motor finance providers to offer more flexible terms and a wider range of products in showrooms to help consumers cope with current conditions.
Many buyers opt for traditional hire purchase, but FLA figures show that both leasing and PCP have also proved very popular over the past 12 months – up by 27% and 18% respectively over this period.
The FLA figures came as Intelligent Finance, the online arm of HBOS, said it would stop offering credit cards and personal loans from next month.
DATED: 15.08.08
FEED: AM
The latest statistics from the Finance and Leasing Association show that in the year to June 2008, 50% of all new car purchases were bought using dealers' motor finance.
This is up from 46.2% a year ago.
The FLA said dealer finance continues to be an attractive option for car buyers as consumers find it more difficult to get credit elsewhere.
Because finance agreements are usually secured against the car, rather than rate-for-risk finance, this enables specialist motor finance providers to offer more flexible terms and a wider range of products in showrooms to help consumers cope with current conditions.
Many buyers opt for traditional hire purchase, but FLA figures show that both leasing and PCP have also proved very popular over the past 12 months – up by 27% and 18% respectively over this period.
The FLA figures came as Intelligent Finance, the online arm of HBOS, said it would stop offering credit cards and personal loans from next month.
DATED: 15.08.08
FEED: AM
LDV gives help to forces' charity
Birmingham van maker LDV has supplied a 15-seat Maxus minibus to the Soldiers, Sailors, Airmen and Families Association (SSAFA).
The wheelchair accessible vehicle will be used to transport wounded personnel and their families upon return to the UK from conflict areas.
SSAFA is a national charity supporting servicemen and women, including those injured in conflict, and helps more than 50,000 people each year.
Upon their return from operations, badly injured service personnel are taken to the Royal Centre for Defence Medicine based at Selly Oak Hospital in Birmingham.
The donated vehicle will be used on a daily basis transporting patients and families between the hospital and the charity’s accommodation for relatives.
LDV already supplies the Ministry of Defence with MAXUS Bi-purpose vehicles of six and nine seat derivatives under the White Fleet Contract.
DATED: 15.08.08
FEED: AM
The wheelchair accessible vehicle will be used to transport wounded personnel and their families upon return to the UK from conflict areas.
SSAFA is a national charity supporting servicemen and women, including those injured in conflict, and helps more than 50,000 people each year.
Upon their return from operations, badly injured service personnel are taken to the Royal Centre for Defence Medicine based at Selly Oak Hospital in Birmingham.
The donated vehicle will be used on a daily basis transporting patients and families between the hospital and the charity’s accommodation for relatives.
LDV already supplies the Ministry of Defence with MAXUS Bi-purpose vehicles of six and nine seat derivatives under the White Fleet Contract.
DATED: 15.08.08
FEED: AM
Wednesday, August 13, 2008
Subject: Problem Page
Why men shouldn't write advice columns:
Dear Frank ,I hope you can help me here. The other day I set off for workleaving my husband in the house watching the TV as usual. I hadn't gone more than a mile down the road when my engine conked out and the car shuddered to a halt. I walked back home to get my husband's help. When I got home Icouldn't believe my eyes. He was in the bedroom with the lady next door making mad passionate love to her.
I am 32, my husband is 34 and we have been married for twelve years. When I confronted him, he tried to make out that he went into the back yard and heard a lady scream, had come to her rescue but found her unconscious He'd carried the woman back to our house, laid her in bed, and began CPR. When she awoke she immediately began thanking him and kissing him and he was attempting to break free when I cameback.
But when I asked him why neither of them had any clothes on , he broke down and admitted that he'd been having an affair for the past six months. I told him to stop or I would leave him. He was let go from his job six months ago and he says he has been feeling increasingly depressed and worthless. I love him very much, but ever since I gave him the ultimatum he has become increasingly distant. I don't feel Ican get through to him anymore. Can you please help?
Sincerely, Susie Fox
Dear Susie, A car stalling after being driven a short distance can be caused by a variety of faults. Start by checking that there is no debris in the fuel line. If it is clear, check the clips holding the vacuum lines onto the inlet manifold for air leaks. If none of these approaches solves the problem, it could be that the fuel pump itself is faulty, causing low delivery pressure to the carburettor float chamber .
I hope this helps. Kind Regards, Frank
Dear Frank ,I hope you can help me here. The other day I set off for workleaving my husband in the house watching the TV as usual. I hadn't gone more than a mile down the road when my engine conked out and the car shuddered to a halt. I walked back home to get my husband's help. When I got home Icouldn't believe my eyes. He was in the bedroom with the lady next door making mad passionate love to her.
I am 32, my husband is 34 and we have been married for twelve years. When I confronted him, he tried to make out that he went into the back yard and heard a lady scream, had come to her rescue but found her unconscious He'd carried the woman back to our house, laid her in bed, and began CPR. When she awoke she immediately began thanking him and kissing him and he was attempting to break free when I cameback.
But when I asked him why neither of them had any clothes on , he broke down and admitted that he'd been having an affair for the past six months. I told him to stop or I would leave him. He was let go from his job six months ago and he says he has been feeling increasingly depressed and worthless. I love him very much, but ever since I gave him the ultimatum he has become increasingly distant. I don't feel Ican get through to him anymore. Can you please help?
Sincerely, Susie Fox
Dear Susie, A car stalling after being driven a short distance can be caused by a variety of faults. Start by checking that there is no debris in the fuel line. If it is clear, check the clips holding the vacuum lines onto the inlet manifold for air leaks. If none of these approaches solves the problem, it could be that the fuel pump itself is faulty, causing low delivery pressure to the carburettor float chamber .
I hope this helps. Kind Regards, Frank
Bank of England - Inflation Report
13 August 2008
The Bank of England has today published its latest Inflation Report.
To view it please follow the link below:
Inflation Report - August 2008
DATED: 13.08.08
FEED: BoE
The Bank of England has today published its latest Inflation Report.
To view it please follow the link below:
Inflation Report - August 2008
DATED: 13.08.08
FEED: BoE
FSA fines Credit Suisse £5.6m for failings
The Financial Services Authority (FSA) has today fined the UK operations of Credit Suisse (the subsidiaries) £5.6 million for breaching FSA Principles 2 and 3 by failing to conduct their business with due skill, care and diligence and failing to organise and control their business effectively.
Credit Suisse announced its financial results for 2007 on 12 February 2008. On 19 February 2008, Credit Suisse announced that it had identified mismarking and pricing errors and that it was repricing certain asset-backed securities. The re-pricing involved a write down of revenues by $2.65 billion. The breaches related to the pricing of certain asset-backed securities held by the Structured Credit Group. The SCG specialises in complex, high risk structured products.
In breach of Principle 2, the subsidiaries failed adequately to supervise the business of the SCG and did not act in a timely way on the concerns they had identified about the pricing of certain asset-backed positions. In breach of Principle 3, adequate systems and controls were not put in place by the subsidiaries which meant that they failed to recognise, for approximately five months, that certain of the SCG’s asset-backed positions were wrongly valued.
Margaret Cole, director of enforcement, said: “The penalty reflects our tougher stance on enforcement and our policy of imposing higher penalties to achieve credible deterrence. “It is imperative, particularly in more challenging financial conditions, that firms have in place appropriate systems and controls to manage their risks. The subsidiaries co-operated fully with the FSA and agreed to settle at an early stage of the FSA’s investigation. They qualified for a Stage 1 discount under the FSA’s settlement discount scheme. The fine of £5.6m reflects this discount.
DATED: 13.08.08
FEED: IUK
Credit Suisse announced its financial results for 2007 on 12 February 2008. On 19 February 2008, Credit Suisse announced that it had identified mismarking and pricing errors and that it was repricing certain asset-backed securities. The re-pricing involved a write down of revenues by $2.65 billion. The breaches related to the pricing of certain asset-backed securities held by the Structured Credit Group. The SCG specialises in complex, high risk structured products.
In breach of Principle 2, the subsidiaries failed adequately to supervise the business of the SCG and did not act in a timely way on the concerns they had identified about the pricing of certain asset-backed positions. In breach of Principle 3, adequate systems and controls were not put in place by the subsidiaries which meant that they failed to recognise, for approximately five months, that certain of the SCG’s asset-backed positions were wrongly valued.
Margaret Cole, director of enforcement, said: “The penalty reflects our tougher stance on enforcement and our policy of imposing higher penalties to achieve credible deterrence. “It is imperative, particularly in more challenging financial conditions, that firms have in place appropriate systems and controls to manage their risks. The subsidiaries co-operated fully with the FSA and agreed to settle at an early stage of the FSA’s investigation. They qualified for a Stage 1 discount under the FSA’s settlement discount scheme. The fine of £5.6m reflects this discount.
DATED: 13.08.08
FEED: IUK
Tuesday, August 12, 2008
Nissan appoints new CV sales boss
Nissan has appointed Tony Lewis as its new LCV sales and marketing director to push its commercial vehicle operations.
Lewis will report directly into managing director, Paul Willcox, and will head up the LCV team.
Willcox said: “Light commercial vehicles will play a central role in Nissan’s planned growth over the next five years and Tony’s experience of developing and implementing strategies for CV growth will prove invaluable as we endeavour to take the LCV business forward.”
Lewis will also sit on the Nissan GB management board. He has previously worked for Ford with roles including Eastern European operations manager and commercial vehicle zone manager, and most recently was sales and marketing director of van maker LDV.
DATED: 12.08.08
FEED: AM
Lewis will report directly into managing director, Paul Willcox, and will head up the LCV team.
Willcox said: “Light commercial vehicles will play a central role in Nissan’s planned growth over the next five years and Tony’s experience of developing and implementing strategies for CV growth will prove invaluable as we endeavour to take the LCV business forward.”
Lewis will also sit on the Nissan GB management board. He has previously worked for Ford with roles including Eastern European operations manager and commercial vehicle zone manager, and most recently was sales and marketing director of van maker LDV.
DATED: 12.08.08
FEED: AM
IMI to appoint COO
The Institute of the Motor Industry is looking to appoint a chief operating officer.
It hopes the post will be filled with a commencement date of January 2009.
The COO will complement the role of chief financial officer, Allan Tyrer. Both will report to chief executive Sarah Sillars.
From April 2009, Sillars' role is expected to change to that of executive chairwoman, and current chairman Steve Nash will become president.
These changes, backed by the IMI's executive board but subject to approval at its AGM this October, are intended to enable the increasing demands on the chairmen of Sector Skills Councils to be met.
DATED: 12.08.08
FEED: AM
It hopes the post will be filled with a commencement date of January 2009.
The COO will complement the role of chief financial officer, Allan Tyrer. Both will report to chief executive Sarah Sillars.
From April 2009, Sillars' role is expected to change to that of executive chairwoman, and current chairman Steve Nash will become president.
These changes, backed by the IMI's executive board but subject to approval at its AGM this October, are intended to enable the increasing demands on the chairmen of Sector Skills Councils to be met.
DATED: 12.08.08
FEED: AM
Call to end ‘one size fits all’ approach to finance
Motor finance firms need a new approach to underwriting because the historic “one size fits all” no longer works, according to a report by University of Buckingham KPMG professor of automotive management Peter Cooke.
He believes the current approach of lending on the age of the vehicle could be flawed and should be better tailored to a car buyer’s personal circumstances.
Lending decisions could then be made quickly and at competitive rates while the sale of a car was being discussed with a customer.
Under the existing system, said Cooke, there was no assurance that someone asking for a bigger loan was more able to repay the money than another borrowing a lesser amount.
“Logically it makes sense to link the risk and the rate of interest to the person doing the borrowing and their risk profile, rather than to the vehicle,” said Cooke in the Black Horse Motor Finance-commissioned report.
He believes the priority is to determine an appropriate rate using the finance company’s credit ranking process.
This would mean the finance rate quoted would be broadly be in line with a rate quoted by a high street bank or internet provider, tailored to the customer’s proposed purchase.
“This gives the finance house and the dealer the flexibility to offer a rate for each customer based on their profile,” said Professor Cooke.
DATED: 12.08.08
FEED: AM
He believes the current approach of lending on the age of the vehicle could be flawed and should be better tailored to a car buyer’s personal circumstances.
Lending decisions could then be made quickly and at competitive rates while the sale of a car was being discussed with a customer.
Under the existing system, said Cooke, there was no assurance that someone asking for a bigger loan was more able to repay the money than another borrowing a lesser amount.
“Logically it makes sense to link the risk and the rate of interest to the person doing the borrowing and their risk profile, rather than to the vehicle,” said Cooke in the Black Horse Motor Finance-commissioned report.
He believes the priority is to determine an appropriate rate using the finance company’s credit ranking process.
This would mean the finance rate quoted would be broadly be in line with a rate quoted by a high street bank or internet provider, tailored to the customer’s proposed purchase.
“This gives the finance house and the dealer the flexibility to offer a rate for each customer based on their profile,” said Professor Cooke.
DATED: 12.08.08
FEED: AM
Accident Exchange recruits David Carter
Accident Exchange has recruited David Carter, the former group managing director of training firm Carter & Carter.
Carter has joined as business development director, charged with assisting the company's expansion of its portfolio of support services, business solutions and training programmes to vehicle manufacturers.
Accident Exchange provides services to a selection of carmakers' franchised networks, including Audi, BMW, Lotus and Bentley Motors.
As Carter & Carter's group managing director between 2001 and 2006, he had worked closely with founder and chief executive Phil Carter.
Carter & Carter went into receivership earlier this year.
DATED: 12.08.08
FEED: AM
Carter has joined as business development director, charged with assisting the company's expansion of its portfolio of support services, business solutions and training programmes to vehicle manufacturers.
Accident Exchange provides services to a selection of carmakers' franchised networks, including Audi, BMW, Lotus and Bentley Motors.
As Carter & Carter's group managing director between 2001 and 2006, he had worked closely with founder and chief executive Phil Carter.
Carter & Carter went into receivership earlier this year.
DATED: 12.08.08
FEED: AM
New look and feel for Honda’s network
Inchcape’s new Honda dealership in Romford, Essex, will be a pilot site for the carmaker’s new European corporate identity.
The showroom features new interior design, radically different exterior signage and a distinctive build structure. The site also becomes a test bed for environmental facilities – in keeping with Honda’s brand values – which include using recycled water and heating via a ground source pump.
“We want to assess how dealers and customers react to these changes and make any adjustments,” said Bernard Bradley, Honda UK general manager cars. “It will be rolled out over the next two to three years.
A number of dealers will have to move location to meet the growing demands on service bays, car bays and parking space. Between now and 2015, the network will undergo “significant investment”.
Honda believes the corporate overhaul is necessary to ensure its retail facilities match its aspirations of becoming an upmarket brand. The buzz phrase is “alternative premium”.
DATED: 12.08.08
FEED: AM
