The French government has announced an €8bn (£7.1bn) rescue plan for its car industry, which has been severely impacted by the coronavirus pandemic. President Emmanuel Macron’s proposal includes €1bn to provide grants of up to €7,000 to encourage citizens to purchase electric vehicles. It also puts money toward investments to make France a centre for… Continue reading France announces €8bn rescue plan for car industry
Author: BBC News
Aston Martin chief leaves after 94% share price collapse
Struggling luxury UK carmaker Aston Martin has announced that chief executive Andy Palmer has stepped down. Tobias Moers is taking over from 1 August, with Keith Stanton filling the gap as interim chief operating officer. Mr Moers joins from Mercedes’ high-performance subsidiary AMG, where he is currently chief executive. Aston Martin was struggling before the… Continue reading Aston Martin chief leaves after 94% share price collapse
McLaren to cut 1,200 jobs as virus hits demand
UK supercar maker and Formula 1 team McLaren plans to cut more than a quarter of its workforce after the coronavirus crisis hit sales and advertising revenue. The firm employs about 4,000 people, and of the 1,200 to be made redundant, the vast majority will be in the UK. Formula 1 racing has been suspended,… Continue reading McLaren to cut 1,200 jobs as virus hits demand
Jaguar Land Rover in talks over government loan
Jaguar Land Rover (JLR) is in talks with the government to secure a loan of more than £1bn, following a drop in sales during the coronavirus pandemic. According to reports, the carmaker has been in discussions for weeks about a support package. JLR, which is owned by India’s Tata Motors, has seen sales plunge by… Continue reading Jaguar Land Rover in talks over government loan
‘My £74K redundancy package has vanished’
Employees at a car parts plant say they will lose thousands from their redundancy deal after the firm went into administration. Martin Hindle, 54, worked at Arlington Automotive Group for 30 years and was promised £74,000 in a redundancy deal. He now estimates he will get £14,000. The firm previously agreed a £1m package for… Continue reading ‘My £74K redundancy package has vanished’
VW pulls Instagram ads after racism row
German car giant Volkswagen has withdrawn a series of social media adverts and apologised after a racism row. A controversial advert showed a dark-skinned man being manoeuvred around by a pair of white women’s hands before being flicked away from a yellow VW Golf to a jaunty soundtrack. Volkswagen apologised, saying the advert was “wrong… Continue reading VW pulls Instagram ads after racism row
Vauxhall’s Luton plant reopens production
Vauxhall has reopened production at its Luton plant after the government loosened restrictions imposed to tackle the coronavirus pandemic. Managing Director Stephen Norman said 800 out of 1,600 staff returned to the factory, which produces vans, on Monday. It comes on the same day Ford re-opened its engine plant in Wales. Mr Norman said Vauxhall… Continue reading Vauxhall’s Luton plant reopens production
Coronavirus: Bridgend Ford return to work marks 40 years
Ford’s engine plant in Bridgend is restarting production after a nearly two-month shutdown due to the coronavirus pandemic. Its 1,200 strong workforce has been on furlough since 25 March but this final return to work – with the factory due to close for good in September – also marks its 40th anniversary. When the plant… Continue reading Coronavirus: Bridgend Ford return to work marks 40 years
McLaren offers classic cars to secure virus help
McLaren is considering raising money by mortgaging its historic car collection and factory to see it through the coronavirus crisis. The Formula One team owner and supercar maker has seen sales and F1 advertising revenues hit as countries globally went into lockdown. Cars on show at McLaren’s Surrey HQ include F1 winners from the 1980s… Continue reading McLaren offers classic cars to secure virus help
Vauxhall’s Luton plant to restart
Vauxhall will restart production at its Luton plant on Monday but is calling for showrooms to open to speed up the automotive sector’s recovery. Managing director Stephen Norman told BBC Newsnight that the plant, which produces vans, would start up with only a third of its 1,600-strong workforce. The company’s Ellesmere Port plant, which makes… Continue reading Vauxhall’s Luton plant to restart