About 1,000 workers at Jaguar’s Castle Bromwich plant in Birmingham will move from a five-day to a three-day week from October until Christmas. Jaguar Land Rover said it was making “temporary adjustments to our production schedules” at the factory. It affects about half the plant’s 2,000 workers, who will remain on full pay. Jack Dromey,… Continue reading Jaguar workers put on three-day week
Tag: Brexit
Jaguar Land Rover boss ‘scaremongering’ on no-deal Brexit, says Tory
Brexit Hard Brexiter Bernard Jenkin says worries about border delays are unfounded Bernard Jenkin is a member of the European Research group collection of hard Brexit-backing Tories. Photograph: Chris McAndrew A leading Conservative Brexiter has accused the head of Jaguar Land Rover of inventing dire consequences for his company of a no-deal Brexit, saying people… Continue reading Jaguar Land Rover boss ‘scaremongering’ on no-deal Brexit, says Tory
‘Tens of thousands’ of jobs at risk, Jaguar Land Rover boss tells PM
Brexit Ralf Speth says he cannot be sure any UK plants will continue to operate after Brexit Jaguar Land Rover’s chief executive said under current estimates a hard Brexit would cost the firm £1.2bn a year. Photograph: Oli Scarff/Getty Images Britain’s biggest car manufacturer, Jaguar Land Rover, has launched a blistering attack on Theresa May’s… Continue reading ‘Tens of thousands’ of jobs at risk, Jaguar Land Rover boss tells PM
UPDATE 2-Wrong Brexit will cost tens of thousands of UK car jobs, warns Jaguar boss
BIRMINGHAM, England (Reuters) – The wrong Brexit deal could cost tens of thousands of British car jobs and risks production at Britain’s biggest carmaker Jaguar Land Rover, its boss warned, adding he had no idea if his plants could function after Britain quits the European Union. FILE PHOTO: Ralf Speth, CEO of Jaguar Land Rover,… Continue reading UPDATE 2-Wrong Brexit will cost tens of thousands of UK car jobs, warns Jaguar boss
UPDATE 1-Wrong Brexit deal will cost thousands of jobs- Jaguar Land Rover CEO
BIRMINGHAM, England (Reuters) – The wrong Brexit deal could cost tens of thousands of jobs, the boss of Britain’s biggest carmaker Jaguar Land Rover warned on Tuesday, saying he had no idea whether his plants would be able to operate after Britain leaves the European Union next year. FILE PHOTO – Jaguar Land Rover (JLR)… Continue reading UPDATE 1-Wrong Brexit deal will cost thousands of jobs- Jaguar Land Rover CEO
The sales of Jaguar Land Rover fall 4.9% in August before the debate of diesel and Brexit
Posted 10/09/2018 11: 32: 44CET MADRID, 10 Sep. (EUROPA PRESS) – Car sales of the Jaguar Land Rover brand dropped by 4.9% in August, with 36,629 units sold, as a result of growing consumer concern about diesel cars and the debate generated by Berxit, according to data published by the company. British trademark registrations fell… Continue reading The sales of Jaguar Land Rover fall 4.9% in August before the debate of diesel and Brexit
Asset finance market up by 8% in July
7 September 2018
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) overall grew in July by 8% compared with the same month last year. New business for deals of up to £20 million increased by 10% over the same period.
The IT equipment finance and commercial vehicle finance sectors reported new business up in July by 60% and 15% respectively, compared with the same month in 2017, while plant and machinery finance and business equipment finance saw modest growth of 1% and 4% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance market rebounded in July despite subdued business investment as a result of Brexit-related uncertainty.
“Key sectors of the economy are using leasing and hire purchase to finance investment in equipment, with particularly strong growth in new finance provided for construction and agricultural equipment, up by 31% and 14% respectively, compared with July 2017.”
Jul 2018
% change on prev. year
3 months to Jul
2018
% change on prev. year
12 months to Jul
2018
% change on prev. year
Total FLA asset finance (£m)
2,837
+8
8,811
+5
32,056
+2
Total excluding high value (£m)
2,665
+10
8,181
+3
30,265
+3
Data Extracts:
By asset:
Plant and machinery finance (£m)
559
+1
1,780
-4
6,551
+1
Commercial vehicle finance (£m)
628
+15
2,018
+9
7,655
+2
IT equipment finance (£m)
276
+60
773
+29
2,513
+11
Business equipment finance (£m)
231
+4
694
-6
2,575
+2
Car finance (£m)
860
-2
2,554
-2
9,339
0
Aircraft, ships and rolling stock finance (£m)
31
+352
86
-29
254
-60
By channel:
Direct finance (£m)
1,359
+6
4,120
+1
14,999
-1
Broker-introduced finance (£m)
530
+22
1,581
+12
6,000
+10
Sales finance (£m)
776
+9
2,480
+2
9,267
+3
By product:
Finance leasing (£m)
303
-6
990
-2
3,859
+2
Operating leasing (£m)
530
+5
1,528
-10
6,245
-8
Lease/Hire purchase (£m)
1,564
+8
4,911
+9
17,489
+5
Other finance (£m)
354
+53
988
+6
3,175
-6
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.
Michel Barnier says he strongly opposes May’s Brexit trade proposals
Brexit EU negotiator also suggests European carmakers will have to use fewer British-made parts Michael Barnier said the British offer on customs was illegal and the ‘common rulebook’ idea would kill the European project. Photograph: Anadolu Agency/Getty Images Michel Barnier has said he is “strongly opposed” to the prime minister’s Chequers proposals on future trade,… Continue reading Michel Barnier says he strongly opposes May’s Brexit trade proposals
Aston Martin drives ‘milestone’ £5bn float as profits accelerate
Aston Martin says it is gearing up for a “key milestone” in its history through a stock market listing. The luxury UK sports car manufacturer confirmed a story by Sky News on Tuesday that it had started the flotation process, with the aim of launching the prospectus for its Initial Public Offering (IPO) on 20… Continue reading Aston Martin drives ‘milestone’ £5bn float as profits accelerate
UPDATE 3-Aston Martin plans to go public as turnaround picks up speed
LONDON (Reuters) – Luxury carmaker Aston Martin plans to float on the London Stock Exchange, completing a turnaround for the once perennially loss-making company that could now be valued at up to 5 billion pounds ($6.4 billion). FILE PHOTO: A company logo is seen on the new Aston Martin Vantage car at a media event… Continue reading UPDATE 3-Aston Martin plans to go public as turnaround picks up speed