EV manufacturer will make debut at UK’s leading low carbon vehicle event British-based company will share future model plans Attendance is start of major recruitment strategy for EV engineering talent Staffing drive is enabled by US$1.8 billion dollar joint venture deal Leamington Spa, UK, 30 August 2017 – UK-based electric vehicle start-up, Detroit Electric, will… Continue reading Wed 30 Aug 2017 Detroit Electric to reveal future model development plans at LCV2017UK-based electric vehicle start-up, Detroit Electric, will outlin…
Category: News Type
Chinese Bike Sharing Firm Ofo Launches In U.S. With Seattle Debut
Chinese bike sharing firm ofo rode into North America yesterday with a debut in Seattle, as the company expands globally in tight competition with rival Mobike. The US$2 billion start-up said it received a permit from the Seattle Department of Transportation to deploy 1,000 bikes on the city’s streets in August as part of a… Continue reading Chinese Bike Sharing Firm Ofo Launches In U.S. With Seattle Debut
Semi-annual report suggests SAIC Motor development decisions
SAIC Motor Corporation Limited (SAIC Motor) released its semi-annual report on Aug 30, summarizing its performance in the first half of 2017. According to the report, from January to June SAIC Motor sold 31.75 million vehicles, a year-on-year increase of 5.8 percent; domestic market share increased to 23 percent; operating income hit 396.4 billion yuan… Continue reading Semi-annual report suggests SAIC Motor development decisions
Bike Sharing As Ad Platform Is Here: Mobike Partners With Disney To Promote Sales
The much anticipated use of shared bikes as advertising platforms is here: Mobike has partnered with Shanghai Disney to promote deals at the amusement park’s official store in the city. As part of the agreement, the Shanghai-based bike sharing pioneer, valued at US$2 billion, has placed a small number of Micky and Minnie Mouse-themed bikes… Continue reading Bike Sharing As Ad Platform Is Here: Mobike Partners With Disney To Promote Sales
Alibaba Joins $9M Round In Hong Kong Bike Sharing Firm Gobee.bike
U.S.-based smart hardware focused venture capital firm Grishin Robotics has led a US$9 million series A round in Gobee.bike, a Hong Kong-based bike sharing start-up. Alibaba Entrepreneurs Fund, a non-profit initiative of Alibaba Group Holdings Ltd., also participated in the round, according to a company announcement. Last month, Alibaba led a US$700 million series E… Continue reading Alibaba Joins $9M Round In Hong Kong Bike Sharing Firm Gobee.bike
Customers invited to design D90 vehicle
SAIC Maxus launched its first custom D90 Internet SUV on Aug 8. The model is designed and produced in line with the customer to business (C2B) model. SUV D90 received worldwide attention not just for breaking the joint venture brand monopoly in the SUV market but also for offering customers a role in the development,… Continue reading Customers invited to design D90 vehicle
Consumer new car finance volumes down by 7% in July
8 September 2017
New figures released today by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer new car finance business volumes fell by 7% in July, compared with the same month in 2016, while the value of new business was up by 3% over the same period.
The percentage of private new car sales financed by FLA members through the POS held steady at 86.0% in the twelve months to July.
The POS consumer used car finance market reported new business in July up 17% by value and 10% by volume, compared with the same month in 2016.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The fall in consumer new car finance business volumes is consistent with recent trends in private new car registrations, and FLA members’ penetration of this market remains stable.
“July saw modest new business growth in the consumer car finance market overall. While the recently announced scrappage schemes may provide some boost to private new car sales in the coming months, the industry expects POS consumer car finance new business volumes to be broadly stable in 2017 overall.”
Table 1: Cars bought on finance by consumers through dealerships
New business
July 2017
% change on prev. year
3 months to July 2017
% change on prev. year
12 months to July 2017
% change on prev. year
New cars
Value of advances (£m)
1,209
+3
4,109
+1
18,341
+5
Number of cars
64,127
-7
214,929
-9
1,006,136
-3
Used cars
Value of advances (£m)
1,294
+17
3,904
+14
14,473
+11
Number of cars
114,371
+10
343,646
+8
1,299,090
+7
Table 2: Cars bought on finance by businesses
New business
July 2017
% change on prev. year
3 months to July 2017
% change on prev. year
12 months to July 2017
% change on prev. year
New cars
Number of cars
47,900
-2
145,586
+7
512,814
0
Used cars
Number of cars
7,242
+60
15,231
+11
57,074
+36
Note to editors:
In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2016. £41 billion of it supported the purchase of new and used cars, including over 86% of private new car registrations.For media enquiries, please contact the FLA press office on 020 7420 9656.
Second charge mortgage new business grows in July
8 September 2017
Commenting on the July 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
“The second charge mortgage market reported its fifth consecutive month of growth in July, with new business up 23% by value and 21% by volume. In the first seven months of 2017, the number of new second charge mortgages grew by 13% to reach 12,378.
“It is important to remember that this growth is from a relatively low base. Nonetheless, the latest figures show that more customers are taking out a second charge mortgage – for example to fund renovations or help family members with a deposit for their first home.”
Table 1: New second charge mortgage lending
July 2017
% change on prev. year
3 months to July 2017
% change on prev. year
12 months to July 2017
% change on prev. year
Value of new business (£m)
90
+23
270
+27
956
+8
Number of new agreements (No.)
1,977
+21
5,798
+24
20,714
+4
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.
Future Mobility Raises $200 Million In Financing Round At $750 Million Valuation
Chinese electric vehicle manufacturer Future Mobility Corp. has raised a new funding round worth US$200 million from a group of unnamed investment institutions and large enterprises, according to a securities disclosure document. The round values the company, founded in 2016 by two veteran automobile executives from BMW Group and Infiniti China, at US$750 million post-money,… Continue reading Future Mobility Raises $200 Million In Financing Round At $750 Million Valuation
My Visit To Mobike Headquarters And What I Learned From Founder Hu Weiwei
In late July, I did a tour of Mobike’s headquarters in Beijing – and I had a fascinating talk with founder Hu Weiwei and VP of International Expansion Chris Martin. It was a fantastic experience and I left with a much better appreciation of the rocket-ship ride the company has been on. I am writing… Continue reading My Visit To Mobike Headquarters And What I Learned From Founder Hu Weiwei