Automotive Skills, the new Government-backed training organisation, has set itself tough challenges to attract top quality staff, including graduates and women, to the sector and close the widening employment gap.
Mitsubishi Motors Corp has sold its 7.93% stake in potential MG Rover joint venture partner Proton for 11bn yen or $99 million, realizing an 8bn profit.
Renault and Nissan are to publish a joint balance sheet as a means of showing credit rating agencies the fruits of their alliance, and in the hope of securing cheaper credit.
Volkswagen's commercial vehicles subsidiary recorded a €164m operating loss last year, following a 4.9% drop in sales volume to 224, 975 units, the effect of model change investments and the restructuring of production at Hannover and Poznan.
“We're not going to reach the kind of earnings objectives that the company aspires to without making the European operations profitable. It's imperative that we come up with a way to do it,” GM CEO Rick Wagoner said at the launch of the fifth generation Astra.
According to data on the French advertising market reported by autoactu.com, vehicle manufacturers increased their advertising budgets by 1% in 2003 while their sales dropped 6.3%.
Last year, manufacturers present in the US market recalled 19.5 million cars and trucks — or 8% of all light vehicles in use, according to an NHTSA report.
Audatex has now completed its annual paint material price review based on information from the industry's six leading paint brands.
Hastings Direct, the south coast-based insurance intermediary, has become the first insurer to go live with AudaWorkstation Enterprise Edition, the latest generation body repair estimating system from Audatex.
"The creation of a Kia manufacturing facility in Europe is a very significant step in the growth and development of our company," said Yong-Hwan Kim, Chief Operating Officer of Kia Motors Corporation, speaking during the world launch of the Kia Cerato 5-door at the Geneva Motor Show.
Stronger used values for new models introduced in 2000 have given residual values in most European countries a strong start to 2004.
Energy Saving Trust (EST) proposals published on 5 March set out the funding schedule for cleaner vehicle grants in 2004.
"A robust and rigorously applied system of technician accreditation in the retail motor industry is achievable and it would bring major benefits to all stakeholders, consumers included," said Sarah Sillars, chief executive, Institute of the Motor Industry (IMI) yesterday.
The Scottish Motor Trade Association (SMTA has joined the RMIF in rebutting the Consumers Association's criticism of the CarWise Code of Practice, which the SMTA will administer in Scotland.
West European car sales bounced back in February after their 1.8% drop in January, says J.D. Power-LMC. The seasonally-adjusted annualised selling rate topped 14.7 million units after a 2.6% year-on-year increase in registrations to an estimated total, ahead of the mid-month release due from the ACEA, of over 1,050,400 units.
Last month's new car registrations totalled 91,460 units, up 3.8% year on year in a month that normally represents under 4% of annual sales. The rise brought the year to date figure up 5.2% to 289,051 units.
The March issue of Which?, complemented by a news release, says the CarWise schemedue to be launched later this month by the RMI has “fatal flaws”.
Reported remarks by MG Rover chief executive Kevin Howe suggest the firm does not expect to turn a profit before 2006 – though it's not clear what role current plans have in setting the target.
Kia Motors Corporation has selected the Zilina region of the Slovak Republic as the home of its first-ever European assembly plant. Kia will invest a total of €700 million in the new facility, which will have an annual production capacity of 200,000 units per year and create 2,400 jobs.
Following its now unconditional offer for second-largest UK dealer group CD Bramall plc, Pendragon concluded a $177 million loan note issue this week, through a private placement with US institutional investors.
The EC's latest car price comparisons show continuing convergence, but differentials between low-pre-tax price markets Denmark, Greece and Finland and Germany, Europe's biggest and most expensive market, are still considerable.
Edmunds.com, the US online resource for automotive information, reports that the average manufacturer incentive per vehicle sold in the US was $2,365 in January 2004, up $343, or 17%, from January 2003, and down $90, or 3.7%, from December 2003.
Speaking at the Geneva Show, Ford Europe president Lewis Booth confirmed the company's forecast of a pre-tax loss for this year before restructuring charges of between $100m and $200m. Booth also said Ford would cut fixed costs in Europe by $450m this year.
Reporting on a stagnating market in 2003, the German ZDK records shrinking dealer numbers and motor retail jobs.
MG Rover Group has unveiled a new 75-based Rover V8 saloon at the Geneva show. The 4.6-litre car is distinguished by a new front-end treatment. MG Sport and Racing added a higher-powered version of the XPOWER SV, too.
Fifteen years ago franchised dealers enjoyed 45% of the service and repair market, and independent garages had 35%. Six years later the franchise share fell to 35% and independent garages sat smugly on 45%.
One of the best known trade fuel treatment and additives brands of the 1980s and 1990s is looking to franchised dealer workshops for a major revival.
Need an incentive to give up the fags? Try this. Our latest Parker's 100 report into depreciation shows that if you bought a new Porsche Boxster and ran it for three years, the money you'd lose in depreciation is £13.06 a week - or less than the cost of smoking 10 cigarettes a day – it takes number one place in our new index.
The Government is taking steps to stop motor traders reducing VAT payable on employees' use of demonstrators for nominal fees sometimes as low as £1 a year.
Auto Network UK is to launch a new 'Insurance & Compliance Solution' for dealers at a debate hosted in London at the SMMT on 9 March.
