Friday, August 06, 2010
Interest Rate Announcements
News Release - Bank of England maintains Bank Rate at 0.5% and maintains the size of the Asset Purchase Programme at £200 billion
DATED: 06.08.10
FEED: BoE
Jardine confirms landmark location for McLaren London showroom
Jardine Motors Group has confirmed One Hyde Park - The Residences at Mandarin Oriental in Knightsbridge - will be the location of its McLaren London showroom.
McLaren London will move into the showroom in early 2011 in preparation for the spring 2011 launch of the McLaren MP4-12C, the first in McLaren Automotive’s new range of high-performance sports cars.
The flagship showroom for McLaren Automotive will establish it as a landmark development, with a prime location in Knightsbridge.
The showroom is anticipated to be McLaren Automotive’s leading European retailer and, potentially, the busiest in the global network.
The One Hyde Park development consists of 86 apartments and three exclusive retail spaces within three pavilions, B, C and D.
The McLaren showroom will be located on the ground floor of pavilion B, the largest of the three retail units, benefitting from a prime position looking out onto Knightsbridge and strategically placed between Harvey Nichols and Harrods at the top of Sloane Street.
Jardine Motors Group will take over the retail space and will commence its own specialist interior fit out to McLaren Automotive visual identity standards in preparation for the launch in early 2011.
“One Hyde Park has already established itself as a landmark location in London, and we are both proud and excited to be part of its future success," said Christian Marti, McLaren Automotive’s European Regional Director.
"The showroom will represent everything we strive for at McLaren: great attention to detail, form and function in its visual impact and atmosphere, and a focus on the customers’ requirements. We worked incredibly hard to ensure McLaren is represented by the world’s best retailers, and Jardine Motors Group worked incredibly hard to convince us that they were right for us in London. One Hyde Park completes the picture for both of our businesses as we move towards the launch of the 12C and our future range of sports cars.”
Sinan Omer, brand manager at McLaren London, on behalf of Jardine Motors Group, said: “We were honoured and excited to be selected by McLaren Automotive to represent them in London, and we hope to make McLaren London the most successful McLaren retailer in the world.
"Securing One Hyde Park as our showroom is the icing on the cake, and will give us a home that is befitting of McLaren’s sports cars: like the company’s headquarters, it continues the important McLaren tradition of presenting the company from a stunning facility that is both visually impressive and absolutely fit for purpose.”
Showrooms in London, Birmingham, and Manchester will represent McLaren in the UK, with other retailers located in USA, Canada, Belgium, France, Germany, Italy, Spain, Switzerland, South Africa, Bahrain, Kuwait, Qatar, Saudi Arabia, UAE, Hong Kong, Japan, Singapore, and Australia.
All retailers will take a naming structure similar to McLaren London (for example, McLaren Paris and McLaren Miami).
DATED: 06.08.10
FEED: AM
Vauxhall gives warranty for life on its new cars
Vauxhall has just announced that its cars are now covered by a lifetime warranty from the first day of registration.
The warranty will apply to the first owner of any Vauxhall registered after August 1 2010 and will cover the car until it reaches 100,000 miles, no matter how many years that takes.
A further programme is planned which will enable the second owner of the car to purchase the lifetime warranty.
‘With the Vauxhall Lifetime Warranty, we are making a strong statement of confidence in the quality of our products and a clear intent to provide the very best customer service in the UK,’ said Duncan Aldred, managing director of Vauxhall Motors.
Most mainstream car brands only offer a three-year warranty, while a few, such as Toyota, Hyundai and Kia, offer five or seven years' cover.
The comprehensive new OEM warranty cover includes powertrain, steering system, brake system and electrical equipment throughout the life of the vehicle.
To maintain the Lifetime Warranty, owners simply need to visit a Vauxhall retailer annually for a free vehicle inspection.
"Great design, engineering excellence and innovative thinking come as standard with every new Vauxhall so a lifetime warranty, with its boost to the customer ownership experience, is a natural extension to the appeal of our products,’ added Aldred.
DATED: 06.08.10
FEED: AM
Car Makers must seek new Niches
Car makers will in future be forced to find ever more specialised niches if they are to survive warns a leading car industry analyst.
Professor Ken Freeply of Nigel Havers College, Kettering says he has spend the last three or four hours thinking about this and is ‘pretty certain it’s not bollocks.’
‘At the moment we see car companies, especially German ones, chasing new but fairly broad niches. Mercedes offers the B-class for that tiny group of people who find the A-class too small, VW builds the Passat CC for that minority who want a family saloon with a lower roof, BMW is about to launch the Mini Countryman for a segment of customers seeking a car that is fat and disgusting. But this is just the tip of the iceberg.’
Prof. Freeply predicts that modern, flexible manufacturing techniques will make it possible for companies to offer even more specialised niche models for very specific customer demands. ‘Many car makers already offer different suspension set-ups for different markets, but quite soon I believe they will go further. Imagine a Volkswagen Polo specifically tailored for people who live in Ipswich. Or a Ford Mondeo-based car with a body style designed around the needs of people called Ian.’
‘The possibilities really are boundless,’ Prof. Freeply continues. ‘Once upon a time if you said, my name is Sally, I live in Oxford and I have medium sized feet, there would be no specific model of car for you. But in future there will be, even if you also don’t like cottage cheese very much.’
Prof. Freeply later denied that his theories were ‘shit’.
DATED: 06.08.10
FEED: SP
Monday, August 02, 2010
A new era begins for Saab GB
Saab GB has announced that another milestone has been reached with the relocation of the company to brand new head offices. Saab GB will be based at Martell House in the Cranfield Technology Park adjoining Cranfield University in Milton Keynes. The location fits perfectly with Saab's aerospace heritage as Cranfield University is a leading postgraduate centre for technology, engineering and aerospace.
The move marks another significant step in the ongoing and overall separation process from General Motors UK. The relocation follows on from the completion of the sale of Saab GB to Spyker Cars which took place in May this year, and marks another milestone in an exciting new era for Saab GB as a part of the independent Saab Spyker organisation.
Jonathan Nash, Managing Director of Saab GB, said: "We are very excited - moving into our new head offices is an important milestone in the separation process and for the future of an independent Saab GB. Following the initial sale of Saab Automobile to Spyker Cars in February and the subsequent completion of the sale of Saab GB in late May, we have been busy recruiting a new independent Saab GB team as well as completing the relocation to our new offices." He continued: "We have also welcomed the arrival of the all new Saab 9-5 saloon into our dealer showrooms and successfully launched the vehicle to the UK press with critical acclaim."
Zhejiang Geely completes acquisition of Volvo Car Corporation
Zhejiang Geely Holding Group Co., Ltd. one of the fastest-growing car manufacturers in China, today announced it has completed the acquisition of 100 per cent of Volvo Car Corporation from Ford Motor Company.
Geely also announced that Stefan Jacoby, the Chief Executive of Volkswagen Group of America, would become President and Chief Executive Officer of Volvo Cars.
Li Shufu said: "This is a historic day for Geely, which is extremely proud to have acquired Volvo Cars. This famous Swedish premium brand will remain true to its core values of safety, quality, environmental care and modern Scandinavian design as it strengthens the existing European and North American markets and expands its presence in China and other emerging markets."
Stefan Jacoby, the new President and Chief Executive of Volvo Cars, said: "I am honoured to join a company with the prestige and growth potential of Volvo. Our employees, suppliers, dealers - and above all our customers - can be confident that Volvo will preserve its special status as the industry leader in vehicle safety and innovation - even as it pursues new market opportunities."
Following completion of the transaction, Stefan Jacoby will join the board of Volvo Cars, chaired by Li Shufu, Chairman of Geely Holding Group. The board will comprise several new directors including Hans-Olov Olsson, a former President and Chief Executive of Volvo Cars and a former Chief Marketing Officer of Ford, who will become Vice-Chairman of the board.
As announced on the signing of the stock purchase agreement on 28th March, 2010 Geely has agreed to pay USD 1.8 billion for Volvo Cars, which included a USD 200 million note with the balance paid in cash.
Under the new ownership, Volvo Cars will retain its headquarters and manufacturing presence in Sweden and Belgium; and its management will have the autonomy to execute on its business plan under the strategic direction of the board.
As part of the transaction, Volvo and Ford will maintain close component and supply relationships, ensuring continuity in areas where they provide supply to each other.
