Tag: Brexit

Toyota to build new-generation Auris car in Derbyshire

Toyota Japanese carmaker’s decision safeguards the jobs of 3,000 workers as Brexit fears continue A worker assembles a vehicle on the production line at Toyota’s factory in Burnaston, Derbyshire. Photograph: Bloomberg/Getty Images Toyota has announced it will build the next generation of its Auris car at its Burnaston plant in Derbyshire. The Japanese carmaker said… Continue reading Toyota to build new-generation Auris car in Derbyshire

Aston Martin boss: record profits show financial turnaround is complete

Aston Martin posted a profit of £87 million in 2017 – £250 million more than the £163 million loss the brand achieved in 2016. This was driven by a 58% upswing in global sales compared with 2016, with 5117 cars finding homes across the year. £876 million in revenue was raised – 48% up on 2016.… Continue reading Aston Martin boss: record profits show financial turnaround is complete

Aston Martin gears up for IPO with first pre-tax profit since 2010

LONDON (Reuters) – Aston Martin delivered its first annual pre-tax profit since 2010 on Monday after last year’s sales reached a nine-year high, while the luxury British carmaker also confirmed it is considering a stock market flotation. Pre-tax profit reached 87 million pounds ($122 million) last year at fictional spy James Bond’s car brand of… Continue reading Aston Martin gears up for IPO with first pre-tax profit since 2010

Electric powered Minis to be built in China

Electric-powered Mini cars are to be built in China, as well as in Oxford where most Minis are currently made. BMW, the owner of the Mini brand, said it had agreed an outline deal with Chinese manufacturer Great Wall Motor. Cars made under that partnership will be for the Chinese market. The deal will not… Continue reading Electric powered Minis to be built in China

UK to align auto regulations with EU post Brexit

Hunt also said there was no possibility of the government changing its position on leaving the customs union after Brexit. LONDON: Britain will align its regulations with the European Union‘s in some areas, such as the automotive sector, after it leaves the bloc in 2019, health minister Jeremy Hunt said on Friday. Hunt also told… Continue reading UK to align auto regulations with EU post Brexit

Carlos Ghosn continues as Renault boss until 2022

Renault Group boss Carlos Ghosn has been tasked with making the Renault-Nissan-Mitsubishi Alliance “irreversible” by ensuring better integration, as the company’s board of directors decided to renew his position for another four years.  Implementing Renault’s ‘Drive the future’ mid-term plan will be Ghosn’s main focus, with that plan ending in the same year as Ghosn’s extended tenure comes… Continue reading Carlos Ghosn continues as Renault boss until 2022

Ineos Grenadier: prototypes due in 2018 under new engineering deal

German engineering firm MBtech, which is part-owned by Mercedes-Benz, has signed a deal with Ineos Automotive to engineer its Land Rover Defender-inspired Projekt Grenadier SUV. The technical tie-up will involve MBtech allocating 200 full-time engineers to the project from its Stuttgart base. According to Ineos Automotive CEO Dirk Heilmann, the deal will: “bring together German engineering and British design and entrepreneurship”.… Continue reading Ineos Grenadier: prototypes due in 2018 under new engineering deal

Government publishes Brexit impact reports

The Department for Exiting the European Union has published a set of reports providing sectoral analysis on the impact of Brexit across a variety of key sectors including ‘automotive’. A wide mix of qualitative and quantitative analysis was carried out following the referendum and the findings have been collated into a range of sector-specific reports,… Continue reading Government publishes Brexit impact reports

Deloitte anticipates the disastrous impact of Brexit on cars

The so-called “hard Brexit” scenario will have disastrous consequences for the British car industry, according to a study by Deloitte. The radical version of Brexit will take the UK back ten years, at the height of the financial crisis. This is the conclusion drawn by the Deloitte study, published on February 8, 2018. In its… Continue reading Deloitte anticipates the disastrous impact of Brexit on cars