Car production will improve this fiscal year, says battery maker Panasonic June 1, 2022 Car production is expected to improve this fiscal year, according to battery maker Panasonic. The Osaka-based giant – who makes batteries for marquees such as Tesla – said its total revenue derived from the automotive market will increase from 14 to 19 per cent, with operating profit growing by 16.6m yen (£101.9m). “We will be [...]
Lamborghini to have e-fuel powered supercars beyond 2030, says boss June 1, 2022 Lamborghini will have at least two supercars powered by e-fuels in its range beyond 2030, according to chief executive Stephan Winkelmann. The German executive told Italian newspaper ‘Il Corriere della Sera’ the entire fleet will transition to hybrid between 2023 and 2024 without losing its renowned high performance. “We want to carry on creating emotions, [...]
Car ownership numbers fall for second consecutive year in more than a century May 31, 2022 Car ownership levels have fallen for the second consecutive year in more than a century. According to data from the Society of Motor Manufacturers and Traders (SMMT), in 2021 levels fell by 0.2 per cent to 35 million units despite the number of UK vehicles growing by 0.4 per cent to 40.5 million. Covid-related market [...]
Car dealership profits up by sevenfold following post-Covid surge in demand May 30, 2022 Profits at the UK car dealerships rose by more than a sevenfold in 2021 following a post-Covid surge in demand. According to data from accountancy group UHY Hacker Young, profits went up 627 per cent, from £105m in 2019/2020 to £764m a year later. Following the end of lockdown, new car sales went up as [...]
UK automotive output spirals downward as global pressures continue to bite May 26, 2022 The UK’s automotive output fell by 11.3 per cent in April as global pressures continue to bite. According to data from the Society of Motor Manufacturers and Traders (SMMT), only 60,554 vehicles were produced last month due to a combination of semiconductor shortages and the war in Ukraine’s impact on transport and raw material costs. [...]
Say goodbye to signs as Ford trials geofencing to set automatic speeding limits May 24, 2022 Speed limit signs could soon be a thing of the past as US car maker Ford has announced it is trialling geofencing technology to set automatic limits for its cars. Geofencing uses GPS or RFID technology to delimit a virtual geographic boundary, allowing a software to trigger a specific response when a body enters the [...]
Fuel hikes leave UK drivers with £700 less in their pockets May 18, 2022 Fuel prices spiking to record levels will leave UK drivers with £700 less per year, according to used car buying service ChooseMyCar.com. Figures revealed that the cost of filling up has increased by £25 per tank, resulting in a yearly range of between £525 and £700 for a car with an average mileage of 13,000 [...]
Cars should be banned from parking on pavement because of ‘discriminatory’ impact May 18, 2022 Cars should be banned from parking on the pavement because of the “discriminatory impact” the practice has on people, according to a report published today. Commissioned by sustainable transport charity Sustrans, the study highlights that people are put off walking because of the large amounts of cars parked on the pavement. Around 70 per cent [...]
UK bus output on pathway to recovery while HGVs slump because of headwinds May 17, 2022 The UK’s bus and coach output is on the pathway to recovery while HGVs continue to slump because of Covid-induced supply chain issues. According to quarterly data released today by the Society of Motor Manufacturers and Traders (SMMT), the UK new bus and coach market grew by 45.2 per cent following the end of all [...]
Cazoo’s boss Chesterman buys $1m worth of shares following price slump May 16, 2022 Cazoo’s chief executive Alex Chesterman bought $1m worth of company shares last week after the online automotive retailer’s price slumped. Following the purchase, Chesterman’s stake in the company has gone up to over 23 per cent to more than $250m, Sky News first reported. “Whilst the current macroeconomic climate has driven heightened fear in the [...]
