Reg Vardy PLC has today announced a 20 per cent increase in pre-tax profit in its interim results for the six months to 31 October. That was achieved through a sales rise of 3.8 per cent, excluding the impact of disposals.
Mazda UK plans to increase its sales by a third in Britain this year on the back of two new models to join the Mazda6, launched in the middle of 2002. It will also be relying on the continuing strong sales performance of the MX-5.
London's black cab maker Manganese Bronze Holdings Plc is enduring difficult trading conditions, according to Reuters.
The new Hyundai OLV – short for Outdoor Lifestyle Vehicle – has been unveiled at the International Auto Show in Detroit.
The new Mini Cooper has received the “North American Car of the Year” accolade at the Detroit International Auto Show – the first time a British-built car has won the award.
The original Fiat restructuring plan, hammered out last year with creditor banks, is “taking shape” while entrepeneur Roberto Colaninno's rival plan appears to be on the backburner, according to a Reuters report today.
Nissan has thrown down the gauntlet to US pickup truck manufacturers with the launch of the 300 horsepower-plus Titan at the Detroit Auto Show. The company plans to sell 100,000 of the trucks each year in segment which traditionally reaps £6,200 margin per sale for US manufacturers.
Car industry euphoria over the record 2002 car sales registrations shouldn't be allowed to mask serious profitability problems which could see the number of franchised dealerships fall by a third in the next decade, warns PricewaterhouseCoopers.
New car sales smashed the 2.5 million barrier for the first time, according to figures released by the SMMT today. The 2,563,631 registrations represent a 4.3 per cent rise on 2001 and mark what SMMT chief executive Christopher Macgowan says was an “incredible year” – but it was a double celebration.
Bridgestone/Ford yesterday settled their lawsuit over a Ford Explorer tyre blow-out accident which killed civil rights leader Earl Shinhoster.
This week's Detroit Auto Show has included the unveiling of a Chrysler Group concept vehicle which has a potential top speed of 420mph. The Viper-powered Dodge Tomahawk signifies the “extreme” thinking that is helping drive innovative thinking at the carmaker.
The new Micra is to get a surreal TV ad treatment, courtesy of film director David Lynch. The ads will feature a new language – 'Micra' – which encapsulates the car's innovations.
Fiat has reduced prices across a broad spread of its model ranges and is maintaining 0 per cent finance offers as part of a 2003 sales push.
Abbey National is to break up its First National subsidiary – which includes the motor finance enterprise – after failing to sell the business as a whole. The bank had looked for £800m for the business and had recently rejected an offer of between £500m and £600m from Lloyds TSB.
Bridgestone/Firestone and Ford Motor Company are to go on trial this week in a US lawsuit blaming them for a car crash that killed civil rights leader Earl Shinhoster.
GM has announced that it is to offer hybrid vehicles this year. The announcement, made at the Detroit Auto Show, is the biggest commitment to the technology by any US car maker. GM will produce hybrid models for cars, pickups and SUVs.
Availability of the locally-built A6 has helped Audi post a near 25 per cent car sales increase in China - to 36,500 cars.
The new-look Impreza went on sale for the first time today. The restyling includes an entirely new front end, a response by the carmaker to some criticism of the outgoing model by devotees.
Ford senior managers' bonuses are the latest victim of Ford chairman Bill Ford Jnr's cost-control measures within his Revitialisation Plan for the loss-making carmaker. Although the decision not to pay bonuses will be confirmed later this month, insiders say continued losses will make the payments untenable.
The all-new Rolls-Royce Phantom was unveiled today at the company's new manufacturing plant and head office at Goodwood in West Sussex. The entirely-new Phantom features a lightweight aluminium space frame body and a new V12 engine.
The controversy over the safety, or otherwise, of SUVs has heightened in the United States with the publication of a new book. Keith Bradsher's “<i>SUVs: The World's Most Dangerous Vehicles and How They Got that Way</i>”,has already provoked a furious response from carmakers.
The Government is so keen for motorists to start using the national network of LPG fuel filling facilities it has been fostering, that it went public this week about the £30m sweetener for motorists. Energy Minister Brian Wilson said motorists should use 2003 to “turn over a green leaf” and make the switch.
Honda's Chinese joint venture, Guangzhou Honda Automotive Company, plans to increase sales volumes by 90 per cent in 2003, according to Chinese newspaper reports. The company says it hopes to sell 110,000 cars and minivans this year.
Tighter dealer margins and lower manufacturer bonuses mean that there are few New Year car bargains on the UK market, according to a new survey by CarPriceCheck. The canny buyer should look to import or purchase via the Internet, the company suggests.
Kia says the major selling point of its new Rio will be a “Focus size car at a Fiesta three-door price.” Priced from £5995 to £8995, the new model features a higher quality interior and bolder exterior styling.
Substantial across-the-board price reductions of up to £1160 on VW new cars take effect today. And the company says that this time it will not be compensating recent vehicle purchasers.
The Marshall Motor Group has obtained the Volvo franchise in the Cambridge and Huntingdon area – formerly held by the Lancaster Group.
Results of a new survey of 100 global automotive executives has shown a slump in business confidence – with the majority suggesting they only expected the sector to move into profitability by 2005 at the earliest.
New police powers to confiscate the vehicles of 'nuisance drivers' came into effect yesterday. The new measure, under the Police Reform Act 2002, also allows the police to levy a fine of up to £357 for vehicle retrieval.
The EU's competition authorities are to take a closer look at a proposed joint venture between DaimlerChrysler and Deutsche Telekom to operate a toll collecting system for heavy lorries on German motorways.
