Car dealers are optimistic about the future of the motor retail sector, with 71% of dealers feel confident in the longer-term recovery. According to research from the Britain Under the Bonnet report, from Close Brothers Motor Finance, at the beginning of 2020, 98% of car dealers were confident about business prospects for the year ahead, with… Continue reading Dealers are “optimistic” of a long-term recovery for motor retail sector
Tag: Brexit
UK car production down -42.8% in first half as sector sheds more than 11,000 jobs amid coronavirus crisis
UK car manufacturing output declines -48.2% in June with 56,594 units produced, rounding off weakest six months since 1954. Factories turn out just 381,357 cars in the year-to-date, down -42.8% on 2019 – a decline of more than 285,000 units. 11,349 jobs already cut across manufacturing and retail during the pandemic, with more at stake… Continue reading UK car production down -42.8% in first half as sector sheds more than 11,000 jobs amid coronavirus crisis
UK car production slumps to lowest level since 1954
The number of cars built in the UK over the past six months has slumped to the lowest since 1954, according to the industry’s trade body. A total of 381,357 cars were made the six months to June, down 42% on the period last year, said the Society of Motor Manufacturers and Traders (SMMT). The… Continue reading UK car production slumps to lowest level since 1954
US cars ‘must be left out of UK trade deal’
Safety experts are urging the UK government to exclude American cars from any post-Brexit trade deal. They say imported vehicles should meet British safety standards for accidents with pedestrians, cyclists and children. UK PM Boris Johnson has indicated he expects cars to be included in any new transatlantic trade agreement. But safety campaigners point to… Continue reading US cars ‘must be left out of UK trade deal’
Electric cars: St Athan confirmed as site for planned battery factory
Plans to build a plant for producing electric car batteries in Wales are a step closer, the firm behind the proposals has said. Britishvolt had also been considering a Coventry site but said it had signed a memorandum of understanding (MOU) with the Welsh Government to build the factory in St Athan, Vale of Glamorgan.… Continue reading Electric cars: St Athan confirmed as site for planned battery factory
Vauxhall’s Ellesmere Port factory to restart car production after 5 MONTHS – This is Money
Production at Vauxhall’s UK car factory will resume from August 17, exactly five months after owners Groupe PSA closed the shutters on the vehicle plant. The assembly line was forced to stop operating on 17 March, one week before Britain was put into lockdown as global industries closed due to the coronavirus pandemic. But while… Continue reading Vauxhall’s Ellesmere Port factory to restart car production after 5 MONTHS – This is Money
SMMT AND JAMA publish joint position paper on UK/Japan trade negotiations
10 July 2020 #SMMT News Following the SMMT-JAMA joint statement on the UK and Japanese governments starting to negotiate a UK-Japan Free Trade Agreement, both organisations have today published a joint position paper on the UK and Japan trade talks currently underway. SMMT and JAMA are in agreement that the conclusion of a new Japan-UK… Continue reading SMMT AND JAMA publish joint position paper on UK/Japan trade negotiations
Ineos 4×4 vehicle plant ‘suspended’ in Wales
Plans to build a new 4×4 vehicle plant in Wales have been put on hold by the firm Ineos. The company said it follows talks with Mercedes-Benz over the acquiring of their Hambach site in Moselle, France. The Wales plant would have been built next to the current Ford engine plant at Bridgend, which is… Continue reading Ineos 4×4 vehicle plant ‘suspended’ in Wales
Indian automakers cut investments in loss-making EV subsidiaries
The ongoing industry crisis arising out of the Covid-19-driven lockdowns, other strategic and geo-political factors are compelling some leading Indian automotive companies to write off investments in their ailing foreign subsidiaries, particularly in the electric vehicle (EV) space. Bharat Forge plugs out of Tevva Motors, re-aligns TorkPune-based Bharat Forge is the latest automotive company to… Continue reading Indian automakers cut investments in loss-making EV subsidiaries
UK govt, India’s Bharti win auction for satellite firm OneWeb
Britain has joined forces with India’s Bharti Global to buy the collapsed satellite operator OneWeb, with the two sides pledging $1 billion between them to develop a constellation that could boost broadband and other services. Under the deal announced on Friday, Britain will invest $500 million and hold a stake of around 45% in OneWeb… Continue reading UK govt, India’s Bharti win auction for satellite firm OneWeb