Ford has taken a £650 million loan to boost its investment into the development of electrification and smart mobility solutions in the UK – with the help of a £500m Government loan guarantee.
Car retailers have been warned to be on their guard after a fraudster attempted to scam the James Glen Car Sales out of £41,000 and a Porsche Cayman sports car by exploiting the Government’s Bounce Back Loans (BBL) scheme.
The Society of Motor Manufacturers and Traders (SMMT) has expressed “bitter disappointment” over the omission of an automotive sector stimulus package in the Chancellor of the Exchequer’s ‘mini budget’.
Chancellor of the Exchequer Rishi Sunak put job retention and creation front and centre of his £30 billion COVID-19 “mini budget” – prioritising hospitality, tourism and housing with fiscal stimulation measures.
Chancellor of the Exchequer Rishi Sunak is unlikely to support individual businesses like car dealerships with new COVID-19 recovery packages in tomorrow’s “mini budget”, it has been claimed.
Car retailers in Italy will benefit from a post-COVID sales boost after the country’s government gave the green light to scrappage scheme incentives for buyers.
MotoNovo Finance has announced it is able to provide additional support to the dealer community as an accredited ‘Introducer’ for the Aldermore Coronavirus Business Interruption Loan Scheme (CBILS).
Hardly a year goes by without the role of regulation in the economy being reconsidered. Even now, in the midst of a national crisis, the debate continues.
The Society of Motor Manufacturers and Traders (SMMT) has called for “dedicated support to drive a successful restart” after revealing that COVID-19 shutdowns caused a 95.4% slump in UK car production in May.
Toyota and Lexus are offering discounts of up to £4,000 to owners of older vehicles to trade up to a brand-new car with the launch of its own its scrappage schemes.
Government’s decision to fit all pure electric vehicles (EV) with partially green number plates is set to pave the way for incentives which should boost adoption of zero emission transport.
Arnold Clark chief executive Eddie Hawthorne has admitted that the car retail group’s apprentices will see their training “set back by a year” as a result of the COVID-19 crisis.
A Government-back new car scrappage scheme could be set to boost the automotive retail sector with incentives of up to £6,000 to switch into an electric vehicle (EV), it has been claimed.
Inchcape has appeared in a list of 53 businesses which have borrowed millions of pounds from the Bank of England under the Government’s Coronavirus Large Business Interruption Loan Scheme (CLBILS).
German Chancellor Angela Merkel’s coalition has followed the lead set by French president Emmanuel Macron in increasing its grant funding for electric vehicle (EV) buyers as part of its COVID-19 stimulus measures.
Detail of the Government’s coronavirus job retention scheme (CJRS) extension into October has been welcomed, despite fears that the introduction of larger employer contributions could bring a ‘heavy dose of complexity’.
With COVID-19 bringing a 'Perfect Storm, Part 2' to UK automotive Professor David Bailey wants to see Government support to save the flagship manufacturing sector.
The French Government will offer car buyers grants of over £6,000 and drive domestic vehicle manufacturing through a £7.1 billion COVID-19 recovery package for its automotive sector.
Changes to the Government’s Coronavirus Large Business Interruption Loan Scheme (CLBILS) will give larger car retail businesses access to a £200 million COVID-19 survival boost.
Car retailers who have sought government support during the COVID-19 lockdown period are being warned to be on their guard as scammers posing as the HMRC launch an opportunistic fraud campaign.
