Martin Tripp, the former Tesla employee who was fired and then sued by the electric vehicle automaker, has filed a lawsuit, alleging statements made by CEO Elon Musk in recent weeks (many in tweet form) defamed him. Tripp is asking for $1 million in damages from the electric automaker. Tripp, who has hired an Arizona-based law firm,… Continue reading Tesla’s alleged ‘saboteur’ strikes back with defamation suit
Tag: People
By Miles closes £1m funding round
The By Miles team are going from strength to strength! Last week they launched the UK’s first real-time pay-as-you-drive car insurance. This week, they have closed a £1m funding round led by JamJar Investments, the venture capital fund of the innocent drinks founders. As one of their original investors, InMotion also participated in this round… Continue reading By Miles closes £1m funding round
Ford Trucks Post Double-Digit Gains, with F-Series Marking Its 15th Consecutive Month of Year-over-Year Increases; Retail Sales of Lincoln Navigator Up 65 Percent
About Ford Motor Company Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility solutions.… Continue reading Ford Trucks Post Double-Digit Gains, with F-Series Marking Its 15th Consecutive Month of Year-over-Year Increases; Retail Sales of Lincoln Navigator Up 65 Percent
Hypercar manufacturer Lister to move HQ to Hyndburn Rocket Centre
By Tim Aldred Posted on: 27th July, 2018 at 8:07 am Hypercar manufacturer Lister has announced major expansion plans which include new premises with a HQ in Hyndburn Rocket Centre. A ray of sunshine for the automotive sector shines on Lancashire. The iconic Rocket Centre, with over 25,000 square ft. of showroom space will be… Continue reading Hypercar manufacturer Lister to move HQ to Hyndburn Rocket Centre
Modest fall in asset finance new business in June
15 August
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole.
The commercial vehicle finance and IT equipment finance sectors reported new business up by 9% and 15% respectively in the second quarter of 2018 compared with the same quarter in 2017. .
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance market reported new business up in the first half of 2018 by 1% compared with the same period a year earlier. This was in line with modest growth in UK business investment over the same period.”
Jun 2018
% change on prev. year
3 months to Jun
2018
% change on prev. year
12 months to Jun
2018
% change on prev. year
Total FLA asset finance (£m)
3,044
-3
8,709
+5
31,846
+1
Total excluding high value (£m)
2,869
-4
8,067
+3
30,023
+2
Data Extracts:
By asset:
Plant and machinery finance (£m)
622
-15
1,794
0
6,554
+2
Commercial vehicle finance (£m)
706
+2
2,039
+9
7,575
+1
IT equipment finance (£m)
326
+26
632
+15
2,401
+6
Business equipment finance (£m)
260
-8
670
-2
2,569
+2
Car finance (£m)
827
-10
2,586
0
9,353
+1
Aircraft, ships and rolling stock finance (£m)
39
+188
69
-76
230
-68
By channel:
Direct finance (£m)
1,428
-7
4,018
0
14,920
-1
Broker-introduced finance (£m)
519
+14
1,576
+13
5,903
+8
Sales finance (£m)
922
-6
2,473
+3
9,200
+3
By product:
Finance leasing (£m)
367
-4
1,006
+4
3,878
+4
Operating leasing (£m)
522
-19
1,475
-18
6,220
-9
Lease/Hire purchase (£m)
1,683
+6
4,957
+11
17,370
+5
Other finance (£m)
332
-21
827
-11
3,051
-15
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £32 billion of finance was provided to businesses and the public sector. FLA members financed a third of UK investment in machinery, equipment and purchased software in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.
Tesla plans to invest $5 billion building factory in China: Bloomberg
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MAHLE Powertrain reduces bottlenecks in the availability of WLTP-capable dyno stands for the auto industry
MAHLE Powertrain opens new test and certification center Simulation of the entire WLTP and RDE regimes enables testing in accordance with the new test procedure under controlled and reproducible conditions The commissioning of the RDEC marks a further step in the strategic expansion of MAHLE Powertrain’s capabilities in the development and certification of vehicles with… Continue reading MAHLE Powertrain reduces bottlenecks in the availability of WLTP-capable dyno stands for the auto industry
Uber Kills Self-Driving Truck Division, Clearing the Road for Tesla
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Renovo partners with aiPod to deploy self-driving cars in London and beyond
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Lyft will pay you $550 to ditch your car for a month
Lyft is raising the stakes in its mission to dominate all modes of transportation in major cities. Starting in August, the ride-hailing company will offer 100 residents of Chicago $550 each in credit to Lyft and several other mobility services if they ditch their personal vehicles for a month. It’s a bold, if slightly gimmicky,… Continue reading Lyft will pay you $550 to ditch your car for a month