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News Digest
News Digest
Looking for a quick update on what’s happening in the auto world? Here, we highlight the key events.
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- Inchcape is to cut jobs across the UK due to falling sales. The firm, which employs about 6,000 people in the UK, said it was unable to predict how many jobs would be lost as part of its plans to reduce costs by £50m.
- Cadillac spends an average of £2,475 on advertising for every car it sells - the highest amount in the automotive industry.
- Caterham claims to have sold the entire production run of its new RS Levante supercar, helping the carmaker achieve one of its best ever sales periods.
- Foreign drivers owe London’s Westminster Council more than £4.5m in parking fines, with owners of luxury cars the worst culprits.
- Tata, which owns Jaguar and Land Rover, has bought a controlling stake in Norwegian electric vehicle company Miljo Grenland/Innovasjon.
- Which? – formerly the Consumers’ Association – rated the Ford Focus as the best option for a family of four, while the Volkswagen Golf Plus came top for a family of five or more.
- Used car website motors.co.uk is urging manufacturers to go back to basics after a poll showed that most motorists are being ‘driven to distraction’ by car gadgets.
- Ebay has bought Trade2Trade, a b2b marketplace for motor dealers, along with its parent company for around £222m.
- Kuwait’s Investment Dar, which has a controlling stake in Aston Martin, plans to sell shares in a new Middle East company, which could be later listed.
- The slump in car sales has cost the Treasury an estimated £500 million in lost tax revenue.
- Clusters of speed cameras that will monitor drivers’ average speed on all routes across a wide area are to be deployed on hundreds of roads next year.
- Cars that have angry, masculine and powerful “faces” are more appealing to customers, according to a study carried out by Austrian consulting firm EFS.
- Car delivery firm Autologic is to cut 40% of its 500-strong driver workforce.
- LSUK, the car parts firm, has gone into administration and 600 people have been made redundant.
- Roadside speed indicators designed to persuade drivers to slow down are being widely ignored, according to a report from the Transport Research Laboratory.
- Max Mosley, president of motor sport’s governing body, the FIA, has warned that Formula One may only survive one more year if it does not introduce major spending cuts.
- Ford of Britain chairman Roelent de Waard has called on the government to re-invest some of the revenue it gets from car taxes back into the industry to help develop greener technologies.
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A company limited by guarantee.
Registered in England No: 225180.
Tel 01992 511521
