Italy's industry minister Antonio Marzano told Fiat executives that Fiat Auto needed deep and definitive restructuring if it is to meet its aim of slashing net debt to $3.6bn by 2003. Marzano's comments were made in this week's preliminary meeting to discuss approval of Fiat's restructuring plan to lay off more than 8,000 workers for at least a year.
For the first time a small family car, the Renault's Megane II, has achieved five stars in the Euro NCAP tests. Three other cars, the Saab 9-3, the Renault Vel Satis and the Mercedes E-class also achieved five stars.
Used car values rose year on year in November - the first rise for six months, according to figures released by CAP today. It means the average trade value for a used car is a marginal 0.1 per cent higher than for the equivalent vehicle in November 2001.
New officials – dubbed “Traffic Tsars” are to be at the centre of Government plans to reduce congestion on the UK's roads, a Government minister has revealed.
Loss-making Swedish carmaker Saab is to axe 1300 jobs as part of the implementation of an “efficiency plan” next year aimed at putting the company back into the black.
The motor industry has been given an important green light to set up the Automotive Skills Council – the industry's own body to develop sector-specific solutions to the industry's skills, recruitment and training problems.
The latest figures from the motor lending sector point to a continuing slow down in demand for point-of-sale finance. The Finance and Leasing Association's Early Indicator figures for October show that consumer demand for motor finance dipped by 2 per cent.
David Thursfield, head of Ford Europe is to assume control of Ford's Premier Automotive Group (PAG), the Ford Motor Company has announced. Thursfield is a noted cost-cutter and, along with, Nick Scheele – whose PAG function he now takes - is credited with successfully turning round Ford's European operations.
Lookers Group says it is to earmark between £4m and £5m for investment in its Vauxhall businesses in Birmingham over the next two to three years. Lookers Selly Oak - bought from Rystar in February – is already getting a £300,000 refurbishment.
The threat of industrial action looms at Jaguar today after unions called a mass meeting of workers. Staff at the luxury car maker's Halewood, Whitley, Browns Lane and Castle Bromwich sites have already rejected the carmaker's 2002 pay offer and unions will tomorrow hold mass meetings to inform workers that it intends to launch industrial action.
<b>United in grief for the UK's bodyshop sector, its lobby groups are far from united in action says Mark Catterall.</b>
<b>United in grief for the UK's bodyshop sector, its lobby groups are far from united in action says MARK CATTERALL</b>
<b>Motorcycles present car dealers with new profit opportunities. But very different sales skills are needed, writes</b><it> Stephen Briers.</it>
BMW chief executive Helmut Panke has scotched rumours that the prestige carmaker is to build new Mini derivatives on a joint platform with PSA/Peugeot-Citroen. Rumours began when the opportunities for BMW to benefit from Peugeot's low cost small car production expertise were put forward on Monday by Goldman Sachs.
Fiat has agreed to delay laying off 8,000 workers pending new crisis talks with the Italian Government and the unions. The meetings will culminate in a meeting with PM Silvio Berlusconi on December 5 and will centre on government financial help with temporary restructuring measures.
Ballooning restructuring costs have pushed troubled Japanese commercial vehicle manufacturer Izuzu deeper into the red in the six months to September. Group net loss for the period was $684.5m – more than three times the loss during the same period last year.
Toyota opens its new £3m dealer training centre at the Nottingham Trent University today. The purpose-built centre on a 1.2-acre site at the university's Clifton Campus will be used to deliver Toyota and Lexus dealers with management, operational, and technical training.
The Retail Motor Industry Federation (RMI) has warned that the MOT system is on the verge of a breakdown as a result of the mounting recruitment and training crisis. And it has called for an end to “cut price” tests.
Prices for three-year-old cars in the UK fell by 7.1 per cent over the 12 months to October 2002, according to the latest EurotaxGlass's European Fleet Index of residual values. The residual value trend in the UK in the most recent three months of the period was for prices to fall by 3.5 per cent.
The Bodyshop Owners Fellowship has announced plans to create an independent, mandatory national licensing programme for bodyshops.
Thatcham's new rig aimed at reducing driver whiplash injuries has been unveiled. The £1 million research facility, the Hyper G Reverse Acceleration Sled is dedicated to the dynamic testing and improvement of motor vehicle seat and restraint design.
Roadlink International has opened a £0.5m purpose-built brake shoe reline and storage facility at its Willenhall, West Midlands headquarters.The new plant will strengthen Roadlink's position as the leading supplier of exchange brake shoes to the truck and bus aftermarket in the UK.
A new radio navigation system aimed at first-time users has been launched by Blaupunkt. Th entry-level TravelPilot DX-R52 features a built-in radio and vibration resistant CD player and boasts simple installation into most popular marques.
A new internet glass/accessories replacement service has been launched by Profile Glass. The internet ordering facility enables customers to order glass, adhesives, accessories and tools 24hrs a day, 365 days a year by phone, fax or on its website. Orders placed before midday can be delivered the next day.
General Motors Europe is developing an inter-group multi-franchising strategy as its key response to the onset of the new block exemption.
Toyota is poised to launch a network of Business Centres nationwide as a key part of its corporate sales strategy for fleet and commercial vehicle sales. The first centre is to open in January at Inchcape Sandhurst Toyota in Surrey.
Saab is to recall more than 55,000 Saab 900 cars worldwide because of a control unit which could corrode in humid climates – and deploy the airbag. General Motors' Saab unit says the recalled cars are from the 1995 model year.
Chief executive of the TRW Automotive group – the Lucas brand owner - says he has received inquiries from potential buyers of business lines within the group automotive portfolio. But John Plant says he has no plans to divest any of the company's business lines once it has become independent from Northrop Grumman's core defence business.
Supermini values are sliding, with recent low-spec examples retailing for under £5k. Japanese models big on quality – such as Toyota Yaris, Daihatsu Sirion and Nissan Micra – now look superb value.
The most common form of working capital funding for motor retailers is their bank overdraft. This should be the cheapest form of financing, because it should only be drawn upon when required and paid for during the time of use. But there are pitfalls.
