Nissan supplier to create almost 200 jobs with new £50m EV factory Transport and infrastructure A major supplier of Nissan has invested nearly £50m to open a new factory in Sunderland, creating 183 high-skilled jobs for the local region. Jatco, a Japanese firm which makes gearboxes for global automakers, will build electrified powertrains for Nissan’s nearby gigafactory. Situated in Sunderland’s International Advanced Manufacturing Park, the 138,840 sq ft plant is [...]
Ex-Aston Martin CEO: Scrap hybrids, go all in on EV cars Opinion Our reliance on hybrid is holding us back from real progress. It's time to go all in on EV cars, writes ex-Aston Martin CEO and 'godfather of EVs' Andy Palmer.
Cinch sales drop below £1bn after ‘rapidly falling’ used car prices Retail Sales are car retailer Cinch dipped below £1bn after the company was hit by “rapidly falling” used vehicle prices. For the 12 months to 31 March, 2024, the Hampshire-based firm posted a revenue of £932.5m, down from the £1.01bn it achieved in the prior year. Newly-filed accounts with Companies House also show that its pre-tax [...]
Jaguar: First look at electric car revealed following rebrand backlash December 3, 2024 Jaguar has revealed the first look at its new luxury electric car following a backlash over its recent rebranding. The iconic Britich carmaker sparked criticism last month after switching up its logo to ‘JaGUar’ and launching an ad which included slogans such as “delete ordinary” and “copy nothing.” The move led to accusations Jaguar was [...]
Webuyanycar sales plunge by £1bn after slide in used car prices December 2, 2024 Sales at Webuyanycar plunged by almost £1bn in its latest financial year as a sharp fall in the value of used cars hit the motor marketplace, it has been revealed. The company, which is owned by Constellation Automotive, has reported a revenue of £2.57bn for the year to 31 March, 2024, according to newly-filed accounts [...]
Cyber attack dents profit at Arnold Clark as sales near £5bn November 19, 2024 Sales at car dealership giant Arnold Clark edged closer to the £5bn mark but the aftermath of a cyber attack and rising costs contributing to a significant cut to its profit. The Glasgow-headquartered group has reported a revenue of £4.96bn for 2023, newly-filed accounts with Companies House have revealed. The latest total comes after Arnold [...]
Kwik Fit restores hundreds of jobs as sales and profit accelerate November 19, 2024 Sales and profit at Kwik Fit accelerated during its latest financial year as the company created restored the 200 jobs it had previous shed. The Letchworth Garden City-headquartered business has posted a turnover of £633m for the 12 months to 31 March, 2024, according to newly-filed accounts with Companies House. The latest total comes after [...]
Jaguar Land Rover: Profit accelerates but sales stall November 8, 2024 Jaguar Land Rover has revealed its pre-tax profit accelerated by 25 per cent during the first half of its financial year despite its revenue flatlining. The automotive giant has reported a profit of £1.1bn for the first six months of its year to the end of September 2024. However, its revenue remained at £13.7bn. For [...]
Bentley pushes back full all-electric switch to 2035 November 7, 2024 Bentley Motors has pushed back its switch to only making electric cars to 2035, it has been confirmed. The Crewe-headquartered luxury car maker, which is owned by Volkswagen, had originally announced in November 2020 that it intended to go all-electric by 2030. The aim was again reiterated in January 2022 when Bentley revealed plans to launch [...]
Jaguar Land Rover: Drivers using plug-in hybrids as ‘stepping stone’ towards electric cars October 30, 2024 Jaguar Land Rover has revealed a sharp rise in the sales of its plug-in hybrid models (PHEV) as its customers use them as a ‘stepping stone’ towards battery electric vehicles (BEV). The automotive giant has reported a 59 per cent rise in PHEV sales during the first half of its financial year compared to the [...]