Pendragon called on restructuring firms to mitigate effects of industry car crash September 8, 2019 As the car industry continues to splutter, one of Britain’s biggest dealers has turned to restructuring experts to try to halt its downward spiral of profits. Pendragon, which owns the ubiquitous Evans Halshaw car dealership brand, spoke to several firms about helping shake up its spending earlier this year, but the process was cut short [...]
Lookers profits splutter as dealership tries to contain sales practice issues August 14, 2019 Problems continue to mount for British car dealership Lookers, as the London-listed firm today said it expects costs to rise as it tries to address problems found with its sales practices. The small cap firm this morning posted a sharp drop in profit for the first half of the year, after car sales were affected [...]
Luxury car imports jump as super-rich look to swerve Brexit costs August 12, 2019 The number of luxury car imports has risen sharply over the last year, as wealthy individuals rush to bring high-end motors to the UK ahead of a potential no-deal Brexit. A total of 3,830 cars were imported in the last financial year, up 16 per cent on the previous 12 months, according to law firm [...]
Car sales stagnate again in July but electric vehicle market share surges August 5, 2019 New car sales were hampered last month by confusion over Brexit uncertainty and the government’s future policies over plug-in hybrid electric cars. The British new car market shrunk 4.1 per cent in July, its fifth straight month of decline, according to the Society of Motor Manufacturers and Traders (SMMT). Read more: Car industry investment grinds [...]
CBI: UK manufacturing growth nears three-year low June 19, 2019 A steep fall in car production saw UK manufacturing growth fall to its weakest level in nearly three years in the three months to June, new data has revealed. Car manufacturers’ 83 per cent plunge was its worst quarterly drop since the height of the financial crisis over the quarter, the Confederation of British Industry [...]
Auto Trader bullish on growth prospects June 10, 2019 | City Talk Amid fears of a slowdown in UK car sales, our head of markets talks us through the big numbers. This sparkling set of annual results from Auto Trader (LSE:AUTO) is tainted only by a more guarded outlook from the company, implying that a repetition of the numbers is unlikely. The majority of the metrics reflect Auto Trader’s [...]
New car market misfires as confusion over government policy and incentives dents demand June 5, 2019 Rule changes to government policy and automotive grants caused hybrid and diesel car sales to plummet in May. Overall new car sales fell 4.6 per cent year-on-year to just 183,724 units. The figures come from the Society of Motor Manufacturers and Traders (SMMT). Read more: Car sales fall as removal of subsidies takes its toll [...]
Green shoots: British new car registrations up for first time in five months March 5, 2019 February brought signs of hope for Britain’s embattled car manufacturing industry, with new car registrations rising for the first time in five months. New car registrations in the UK rose 1.4 per cent to 81,969 vehicles after five straight months of decline, according to figures from the Society of Motor Manufacturers and Traders (SMMT). Read [...]
Jaguar Land Rover could announce fresh round of UK investment in early March despite industry turmoil March 2, 2019 Jaguar Land Rover is reportedly planning to buck the trend of car makers fleeing the UK by making a major investment in British advanced manufacturing. The manufacturer, which is owned by Indian firm Tata, reportedly said fresh investment in the UK was imminent, and an announcement could come in early March. Read more: Tata Motors’ [...]
UK car production plummets 18 per cent in January February 27, 2019 UK car production plummeted 18.2 per cent in January amid fears over a hard Brexit. Read more: Brexit uncertainty sparks public to private takeover trend The figures, released today by the Society of Motor Manufacturers and Traders (SMMT), also revealed that almost a third of automotive companies surveyed had postponed or cancelled investment in the UK [...]