Wealthy people in the UK are buying more luxury supercars than ever before, according to Driver and Vehicle Licensing Agency figures shared with the Guardian. Almost 16,000 supercars – such as Ferrari, Bugatti, Aston Martin, Maserati and Koenigsegg models – were registered at UK addresses in the year to December 2019, according to figures released… Continue reading Wealthy people in UK still driven to splash out on supercars
Tag: Brexit
Coronavirus pandemic sends UK commercial vehicle production down -15.5% in 2020
British commercial vehicle production falls -15.5% in 2020 to just 66,116 units, the lowest annual output since 1933.1 Output for overseas markets down -17.8%, while production for the UK drops -12.2%. More than half (57.3%) of all British-built CVs destined for global markets, underlying the importance of frictionless trade. UK commercial vehicle (CV) manufacturing declined… Continue reading Coronavirus pandemic sends UK commercial vehicle production down -15.5% in 2020
UK car production down -29.3% as coronavirus slams brakes on sector
UK car manufacturing output falls -29.3% in 2020 to 920,928 units, the lowest total since 1984. Production for UK and overseas markets declines -30.4% and -29.1% but more than eight in 10 cars still head abroad. Latest independent outlook forecasts car output to reach one million units in 2021, but much depends on Covid recovery,… Continue reading UK car production down -29.3% as coronavirus slams brakes on sector
UK car industry needs “significant investment”, says SMMT
It would be “really tough” and require “significant investment” for the UK to return to its recent high point of 1.7 million cars built annually. That’s according to the Society of Motor Manufacturers and Traders (SMMT) boss Mike Hawes, who announced that UK car production in 2020 fell below one million units, to 920,928, the lowest level… Continue reading UK car industry needs “significant investment”, says SMMT
@BMW: Ad-hoc announcement: BMW AG Preliminary Automotive Free Cash Flow for the fourth quarter and the full year 2020 above market expectations000872
Munich. The BMW AG’s preliminary Automotive segment Free Cash Flow for the fourth quarter 2020 is around € 2.8 billion (Q4 2019: € 1.5 billion), leading to around € 3.4 billion (2019: € 2.6 billion) for the full year 2020 and thus exceeds current market expectations. The better than expected Free Cash Flow development of the… Continue reading @BMW: Ad-hoc announcement: BMW AG Preliminary Automotive Free Cash Flow for the fourth quarter and the full year 2020 above market expectations000872
Nissan to cut around 160 office-based UK jobs
By Reuters Staff 1 Min Read FILE PHOTO: A visitor is seen at a Nissan Motor Corp. showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato LONDON (Reuters) – Nissan will cut around 160 office-based jobs in Britain as the Japanese company faces reduced sales amid plans to turn around its performance. Last week, it… Continue reading Nissan to cut around 160 office-based UK jobs
EU-UK trade deal: EU automobile manufacturers react
Brussels, 24 December 2020 – The European Automobile Manufacturers’ Association (ACEA) welcomes the deal struck today between the European Union and the United Kingdom on their future trading relations. This agreement is a great relief for European automobile manufacturers, allowing the sector to avoid the catastrophic effect of a no-deal Brexit. “There is no other… Continue reading EU-UK trade deal: EU automobile manufacturers react
Brexit: Nissan commits to keep making cars in Sunderland
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Brexit has given competitive edge on car battery tariffs, says Nissan chief
Nissan has said Brexit has given the company an edge, as the Japanese carmaker said it will buy more batteries from within the UK to avoid tariffs. The owner of the UK’s largest car factory, in Sunderland, also said it would push ahead with the production of a new version of its Qashqai SUV this… Continue reading Brexit has given competitive edge on car battery tariffs, says Nissan chief
INTERVIEW: R&D, tech vital for UK’s EV ambitions: Ex-Aston CEO – S&P Global
Highlights Norway EV sales hit 50% Rules of Origin important factor Not a singular race for raw materials London — The new year is shaping up to be the year of the electric vehicle, and to keep up the UK must invest not only in EV battery factories but also world-leading R&D and technology, Andy… Continue reading INTERVIEW: R&D, tech vital for UK’s EV ambitions: Ex-Aston CEO – S&P Global