City Credit will be selling Close Motor Finance products after a new partnership deal was signed today. The Surrey-based brokerage has been working with Close since April after previously selling products from Close's biggest competitors.
Original equipment suppliers Sachs Boge has restructured. Independent sales and marketing consultant Derek Aldred is the new acting managing director until a permanent appointment can be made. He replaces Martin Hurley who leaves the company following a serious illness.
Capital Bank Motor has launched a new Internet portal, which brings wholesale and retail point of sale finance systems together into one environment – a first for the motor finance industry says the company.
VW chief Berndt Pischetsrieder has denied media suggestions that his company is in direct talks with Fiat Auto management as possible partners in the restructuring deal for the ailing carmaker. But he admitted that the Audi subsidiary was in talks with Maserati about “cooperation”.
Clean fuel-cell cars powered by hydrogen could be a reality 30 years ahead of the Government's previous estimates, according to a new report commissioned by the Department for Transport.
The Crown Prosecution Service says it is to take a tougher line on cases of death caused by dangerous driving. Some prosecutors were incorrecly bringing the lesser charge of dealth by careless driving, it says.
Virgin Cars intends to enter the corporate sales market – offering contract hire and lease purchase to the fleet and business user. The service will come to market in the New Year but with a full launch earmarked for April.
The seasonal warning to drivers not to leave their Christmas purchases visible in their vehicles has come from the RMI. The solution is simple, the Federation is telling the public – lock valuables in the boot out of sight.
Nine managers who formed Yes Car Credit are to share up to £62m after agreeing to sell the business to Provident Financial for up to £141m. Provident is paying £53.1m in cash and loan notes, plus a deferred amount of up to £88m due in June 2004.
Trading in Brilliance China Automotive shares was suspended shortly after the market opened on Wednesday, according to the Hong Kong Stock Exchange. No other details were immediately available.
Mitsubishi Motors says it hopes to grab half of China's burgeoning market for sport utility vehicles (SUVs) by 2010 with its Pajero and Pajero Sport models.
A new AA report points to a breakdown in the relationship between road users and the Government. The AA claims that the report, which was the result of interviews with 1000 motorists, suggests motorists believe the Government's transport planners are “revenue-driven” and don't understand how ordinary people live their lives.
BMW is to unveil its first-ever diesel coupe next March – although it will be a further year before a right hand drive version is available. The BMW 330Cd will feature the new 3-litre diesel delivering 204bhp, which represents an extra 20bhp on the current 3-litre diesel offering.
New Fiat chief executive Alessandro Barberis has suggested that the struggling carmaker's painful restructuring plan agreed with creditor banks would continue. And in a markedly downbeat speech about the struggling carmaker's medium term future – he said signs of recovery would only come at the end of 2003.
SUVs may be subject to a new “rollover rating” in the United States as safety organisations look to cut the 10,000 rollover-related deaths on American roads. According to a report today on CBS News, rollover death rates are climbing as people trade in their cars for high-riding, less stable pickups and SUVs.
The two main Japanese carmakers are bullish about 2003 vehicle sales. Honda today says it expects sales to be up 10 per cent to a record 3.1 million. And yesterday Toyota said 2003 would see 6.5m unit sales – up 5 per cent.
Jaguar in the United States is poised to launch an advertising campaign specifically targeted at gay consumers, according to a story in today's <I>Detroit News</I>. This follows a Ford study which pointed to the need for new strategies for selling to 14 million gay US consumers who have an estimated £281m in purchasing power.
BMW is set to unveil its new xActivity fwd concept vehicle at the Detroit Motor Show on 5 January. The sports activity vehicle - which will be denoted X3 - combines X5 looks but with a unique frame-structure convertible roof.
GM Daewoo has opened a new £62m engine plant at its Changwon production facility in south eastern Korea. The carmaker will produce four-cylinder 1.0 and 1.2-litre S-TEC engines, in addition to the existing three-cylinder 0.8-litre power plant.
The trade should view the increase in the number of private buyers appearing at auction marts as an opportunity rather than a threat argues Glass's Older Car Guide editor <b>John Glynn</b>.
What an important year 2002 turned out to be for aftersales. The renewal of block exemption on October 1 radically restructured the way aftersales could be delivered to customers in the future.
Isuzu, the General Motors-owned vehicle manufacturer, is to pull out of the global passenger car market in a bid to concentrate its efforts on producing diesel engines and trucks.
What have Victoria Beckham, Cherie Blair, Madonna and supermodel Jordan got in common? The answer isn't new babies but this season's latest fashion accessory – a three-wheel off-road Land Rover push chair.
A recently-launched bodyshop organisation is calling for mandatory licensing to be introduced across the crash repair industry.
The Vehicle Builders and Repairers' Association has warned repairers to watch out for the “rising turnover – reducing profit” trap as they enter the busiest time of the year.
Dana Corporation has agreed to sell FTE, one of Europe's top brake and clutch systems manufacturers, to the European private equity finance company Hg Capital for an undisclosed sum.
The Retail Motor Industry Federation is calling for the Government to inject cash into a new scheme aimed at boosting garage standards.
The new non-executive chairman of RAC plc from 1 May 2003 will be Peter Smith. He replaces Sir Trevor Chinn who is retiring after the organisation's AGM at the end of April.
A new Government/industry umbrella organisation has been set up to discuss the major strategic issues confronting the UK car industry. The Retail Motor Strategy Group will be chaired by RMI president Fred Maguire.
Wholly-owned Ford subsidiary Ford Retail UK confirmed today it has bought 11 of the 12 Quartic Group sites put into administrative receivership in October.
