LONDON, Oct. 23 (Xinhua) — Andy Palmer, CEO of Aston Martin, a British manufacturer of luxury sports cars, believed that there’s a great potential and opportunity for Britain and China to collaborate more on exchanging technology and talent in the car industry. MARKET OF GROWING IMPORTANCE “For Aston Martin, the Chinese market is not only… Continue reading Interview: UK, China see great potential for collaboration in car industry, says Aston Martin CEO – China.org.cn
Tag: Brexit
LEVC CEO counts on products, new markets to lift UK-based Geely unit – Automotive News Europe
Since LEVC’s successful introduction of the plug-in hybrid TX Taxi in 2017, the UK-based unit of Zhejiang Geely Holding has struggled with costs. As a result, the money-losing producer of the iconic London black cab brought in longtime Audi executive Joerg Hofmann as its new CEO in February. Hofmann’s first job was to stabilize the… Continue reading LEVC CEO counts on products, new markets to lift UK-based Geely unit – Automotive News Europe
Bosses leave car dealer Lookers as Brexit blamed for profit warning
Automotive industry Shares plunge and company announces the closure of 15 branches Lookers says it expects annual underlying pre-tax profit to plunge to about £20m from £67m a year earlier. Photograph: Suzanne Plunkett/Reuters Lookers, one of Britain’s biggest car dealerships, has parted company with its chief executive and chief operating officer as it blamed Brexit… Continue reading Bosses leave car dealer Lookers as Brexit blamed for profit warning
UPDATE 1-European labour unions fret about jobs in Fiat Chrysler-PSA deal
(Adds comments from French, Italian unions) PARIS/MILAN, Oct 31 (Reuters) – European labour unions have called on Peugeot owner PSA and Fiat Chrysler to avoid job cuts and factory closures as the two major carmakers prepare to tie the knot, underscoring worries about the $50 billion deal as the regional economy falters. As PSA and… Continue reading UPDATE 1-European labour unions fret about jobs in Fiat Chrysler-PSA deal
UK engine manufacturing shows -1.9% decline in September
31 October 2019 #SMMT News #UK Manufacturing UK engine manufacturing down -1.9% in September, as demand declines at home and internationally. Year to date performance lags -7.4% behind 2018 with orders from British plants suffering biggest fall. More than six out of 10 UK-built engines shipped overseas, highlighting importance of frictionless trade. Mike Hawes, SMMT… Continue reading UK engine manufacturing shows -1.9% decline in September
Turbulent first nine months for automotive sector as UK car production reverses -3.8% in September
31 October 2019 #SMMT News #UK Manufacturing UK car production falls -3.8% in September to 122,256 units, rounding off turbulent first nine months for sector. Manufacturing for both domestic and overseas markets declines, -5.1% and -3.4% respectively. Year-to-date performance down -15.6% as political and economic turmoil, softness in key global markets and operational changes impact… Continue reading Turbulent first nine months for automotive sector as UK car production reverses -3.8% in September
Vauxhall fears after car giants Fiat and PSA announce merger
Fiat Chrysler is to merge with Vauxhall’s owner PSA to create the world’s fourth largest car company. The two sides say they have yet to finalise all the details, but the 50-50 merger is expected to provide significant cost savings. That has raised concerns at Vauxhall, which employs 3,000 people in the UK, as it… Continue reading Vauxhall fears after car giants Fiat and PSA announce merger
Dealers target EV and hybrid stock as average prices rise
The used car market gained significant momentum during Q3. Demand was strong and conversion rates rose to the mid 90% during September according to the latest market insights report from Aston Barclay. Average prices of used EVs and hybrids reached their highest since the insights report was launched in 2017 at £14,012, while sub 24-month… Continue reading Dealers target EV and hybrid stock as average prices rise
Tata Sons stake in Tata Motors to rise to 43.73% post Rs 6,500 cr preferential issue
Tata Motors group has a net debt of Rs 50,000 crore out of which Tata Motors Ltd alone account for Rs 20,000 crore. New Delhi: Tata Sons, the promoter of major operating companies of the Tata Group, will increase its shareholding in Tata Motors to 43.73 per cent after the proposed Rs 6,500 crore preferential… Continue reading Tata Sons stake in Tata Motors to rise to 43.73% post Rs 6,500 cr preferential issue
Press Releases – Commercial vehicle registrations: +4.6% nine months into 2019; -10.0% in September
Brussels, 24 October 2019 – In September 2019, EU commercial vehicle registrations dropped for the first time this year (-10.0%), bringing an end to eight months of consecutive growth. Total new commercial vehicles In September 2019, EU commercial vehicle registrations dropped for the first time this year (-10.0%), bringing an end to eight months of… Continue reading Press Releases – Commercial vehicle registrations: +4.6% nine months into 2019; -10.0% in September