Tag: Brexit

Dealer profitability rises 4.4% in March to £118,000

220119 Trust Ford Edgware. Generic shots The average dealer saw profits rise 4.4% to £118,000 in March compared to the same period last year. Dealer profitability specialist ASE said the performance was “very creditable” and underlined the resilience of UK motor retailing. “To improve profits whilst consumers and businesses were faced with the massive Brexit… Continue reading Dealer profitability rises 4.4% in March to £118,000

Michelin : Michelin announces sales of €5.8 billion, an increase of 9.3% at constant exchange rates. 2019 guidance confirmed

PRESS RELEASEClermont-Ferrand, France – April 24, 2019COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELINFinancial information for the three months ended March 31, 2019First-quarter 2019: In difficult markets, Michelin announces sales of €5.8 billion, an increase of 9.3% at constant exchange rates, led by a robust price-mix and a strong contribution from newly acquired businesses.2019 guidance confirmedA resilient performance… Continue reading Michelin : Michelin announces sales of €5.8 billion, an increase of 9.3% at constant exchange rates. 2019 guidance confirmed

Heritage Automotive acquires Blade Motor Group and Blade Motorcycles

Heritage Automotive has grown its Volkswagen Group representation and its presence in the motor-cycle sector with the acquisition Blade Motor Group and Blade Motorcycles for an undisclosed sum. Three Skoda, two Seat and Audi, Volkswagen and Honda dealerships are part of the acquisition which grows the AM100’s 86th-placed, £155 million turnover car franchise group’s influence… Continue reading Heritage Automotive acquires Blade Motor Group and Blade Motorcycles

Ferrari CEO confident on plan’s targets despite uncertain backdrop

FILE PHOTO: The logo of Ferrari is pictured during the first press day of the Paris auto show, in Paris, France, October 2, 2018. REUTERS/Benoit Tessier/File Photo AMSTERDAM (Reuters) – The chief executive of luxury race car maker Ferrari said on Friday he was confident about meeting the targets of a business plan through 2022… Continue reading Ferrari CEO confident on plan’s targets despite uncertain backdrop

UK car production could halve in no-deal Brexit scenario – study

Automotive industry With investment down 80% in past three years, industry faces ‘death by a thousand cuts’ The Jaguar Land Rover factory in Solihull. The company has issued a warning about a no-deal Brexit. Photograph: Getty Car production in Britain could collapse by almost half by the mid-2020s in a no-deal Brexit scenario, with plant… Continue reading UK car production could halve in no-deal Brexit scenario – study

Jaguar Land Rover begins Brexit shutdown as sales fall

Jaguar Land Rover UK’s main manufacturing sites, employing 18,500 people, closed from Monday to Friday Jaguar Land Rover sold 578,915 vehicles globally in the year to March, down 5.8%, and the carmaker blames weaker demand in China. Photograph: Leon Neal/Getty Images Jaguar Land Rover has begun its week-long factory shutdown as part of its plans… Continue reading Jaguar Land Rover begins Brexit shutdown as sales fall