CBI: Decline in UK manufacturing slowed in October but activity still weak October 22, 2020 UK manufacturing activity continued to decline in the three months October but fell at their slowest pace since March despite a resurgence in coronavirus cases, a new survey showed. Output dropped in 10 of the 17 manufacturing sub-sectors monitored by the CBI’s industrial trends survey, with the aerospace sector leading the drop as the pandemic [...]
Leicester factory scandal: Boohoo supplier involved in ‘multi-million-pound’ fraud scheme October 13, 2020 Leicester clothing factories with links to Boohoo and Select Fashion have been involved in a “multi-million pound” money laundering and VAT fraud scandal, an investigation has found. Firms based in the city’s garment manufacturing district, some of which were suppliers to the fast fashion retailers, were revealed to have been involved in fraudulent activity relating [...]
Mercedes recalls ‘compelling evidence’ of nitrogen oxide problem, lawyers say October 12, 2020 Lawyers building a class action against Mercedes alleging that the carmaker has deliberately engaged in emissions fraud said that the firm’s latest recall of diesel vehicles is “compelling evidence” that it has a nitrogen oxide emissions problem. London law firm Fox Williams says that the auto giant programmed an emission defeat device during test conditions [...]
Japanese auto giants to ‘demand payback’ in event of no-deal Brexit October 6, 2020 Two of Japan’s auto giants will ask the UK to pay them back for any additional custom charges levelled against their cars if it fails to agree a free trade deal with the EU. The Nikkei reported that Toyota and Nissan will want payments to cover the extra 10 per cent of tax that will [...]
UK firms receive over £5bn in subsidies for company cars October 5, 2020 UK companies received a total of £5.1bn from the government in subsidies for buying company cars, new data released today showed. According to a survey carried out by campaign group Transport & Environment, European governments as a whole have shelled out €32bn (£29bn) on such subsidies, most of which goes towards diesel and petrol vehicles. [...]
Worst September on record for new car registrations October 5, 2020 New car registration fell to their lowest level since records began in September in a further blow for the battered auto industry. Just 328,041 cars were registered last month, down 4.4 per cent lower year-on-year, new figures from the Society of Motor Manufacturers and Traders (SMMT) showed. That’s the weakest performance since the introduction of [...]
Car industry at risk of tariffs even if Brexit deal agreed September 30, 2020 The UK car industry may be hit by tariffs even if a free trade deal is agreed with the EU, the BBC reported today, due to issues over the provenance of certain car parts. Turkish and Japanese car parts used in cars made in this country will not be classed as British, meaning that some [...]
Sunak’s subsidy scheme will save just one job per company in the business travel sector September 30, 2020 Last week, the chancellor outlined his Winter Economy Plan — trying to balance the needs of the economy with our health and wellbeing. No enviable task. Listening to his polished performance in the Commons, it would be easy to conclude that the chancellor’s new approach — underpinned by a Job Support Scheme and extended tax [...]
Car production plunges as surge in cases slams breaks on sector recovery September 25, 2020 Car production plunged again in August, falling 44.6 per cent year on year as factory output stalled amid ongoing disruption caused by the coronavirus crisis. Just 51,039 models were built last month, down from 85,000 in July, according to figures from the Society of Motor Manufacturers and Traders (SMMT). Weaker demand for British-built cars in [...]
McLaren puts iconic Woking HQ up for sale for £200m September 10, 2020 Sports car maker McLaren has put its iconic headquarters near Woking in Surrey up for sale in a bid to shore up its balance sheet amid the ongoing coronavirus crisis. Sky News first reported that the firm has instructed property agent Colliers to begin marketing a sale-and-leaseback of the McLaren Technology Centre, with offers in [...]
