Ballooning restructuring costs have pushed troubled Japanese commercial vehicle manufacturer Izuzu deeper into the red in the six months to September. Group net loss for the period was $684.5m – more than three times the loss during the same period last year.
Toyota opens its new £3m dealer training centre at the Nottingham Trent University today. The purpose-built centre on a 1.2-acre site at the university's Clifton Campus will be used to deliver Toyota and Lexus dealers with management, operational, and technical training.
The Retail Motor Industry Federation (RMI) has warned that the MOT system is on the verge of a breakdown as a result of the mounting recruitment and training crisis. And it has called for an end to “cut price” tests.
Prices for three-year-old cars in the UK fell by 7.1 per cent over the 12 months to October 2002, according to the latest EurotaxGlass's European Fleet Index of residual values. The residual value trend in the UK in the most recent three months of the period was for prices to fall by 3.5 per cent.
The Bodyshop Owners Fellowship has announced plans to create an independent, mandatory national licensing programme for bodyshops.
Thatcham's new rig aimed at reducing driver whiplash injuries has been unveiled. The £1 million research facility, the Hyper G Reverse Acceleration Sled is dedicated to the dynamic testing and improvement of motor vehicle seat and restraint design.
Roadlink International has opened a £0.5m purpose-built brake shoe reline and storage facility at its Willenhall, West Midlands headquarters.The new plant will strengthen Roadlink's position as the leading supplier of exchange brake shoes to the truck and bus aftermarket in the UK.
A new radio navigation system aimed at first-time users has been launched by Blaupunkt. Th entry-level TravelPilot DX-R52 features a built-in radio and vibration resistant CD player and boasts simple installation into most popular marques.
A new internet glass/accessories replacement service has been launched by Profile Glass. The internet ordering facility enables customers to order glass, adhesives, accessories and tools 24hrs a day, 365 days a year by phone, fax or on its website. Orders placed before midday can be delivered the next day.
General Motors Europe is developing an inter-group multi-franchising strategy as its key response to the onset of the new block exemption.
Toyota is poised to launch a network of Business Centres nationwide as a key part of its corporate sales strategy for fleet and commercial vehicle sales. The first centre is to open in January at Inchcape Sandhurst Toyota in Surrey.
Saab is to recall more than 55,000 Saab 900 cars worldwide because of a control unit which could corrode in humid climates – and deploy the airbag. General Motors' Saab unit says the recalled cars are from the 1995 model year.
Chief executive of the TRW Automotive group – the Lucas brand owner - says he has received inquiries from potential buyers of business lines within the group automotive portfolio. But John Plant says he has no plans to divest any of the company's business lines once it has become independent from Northrop Grumman's core defence business.
Supermini values are sliding, with recent low-spec examples retailing for under £5k. Japanese models big on quality – such as Toyota Yaris, Daihatsu Sirion and Nissan Micra – now look superb value.
The most common form of working capital funding for motor retailers is their bank overdraft. This should be the cheapest form of financing, because it should only be drawn upon when required and paid for during the time of use. But there are pitfalls.
Employers in the retail motor industry have united in a bid for a Sector Skills Council. Sir Peter Vardy, chairman of Reg Vardy and chairman designate of the Skills Council, believes it will make a fundamental contribution to the professionalism of the sector.
The RMI has argued today that the on-going reduction in the number of bodyshop outlets could be “advantageous” for those who remain in the industry. Fewer bodyshops could strengthen the sector's hand in its relationship with its insurer work-providers.
German carmakers are squaring up to their Government over its plans to increase monthly taxes on company cars by 50 per cent. The rise would cost the typical driver an extra £63 per month – or 2.3 per cent of disposable income.
MG Rover's proposed joint venture with China Brilliance, which was to have delivered a new medium-sized model, is on the brink of collapse after the Hong Kong Stock Exchange suspended trading in the Chinese firm's holding company.
New harmonised European rules on credit, designed to protect consumers from borrowing beyond their means, could cause automotive retailers more grief than the latest block exemption revisions, a motor finance house is warning.
Vehicle manufacturers have found a loophole in the Supply of New Cars Order and are once more massaging sales figures to mask what is now claimed to be a substantial tail-off in consumer demand, according to leading analysts.
BMW GB dealers are gearing up for growth as the carmaker prepares to build on record sales this year by setting ambitious sales targets for 2003 - buoyed by the current strong demand for BMW product in the UK marketplace.
Lookers chairman Fred Maguire, who will attend this month's AM automotive forum 'Putting profit before turnover', wants other senior motor retail executives to open their minds to fresh ideas. The forum is at the Heritage Motor Centre, Gaydon, Warwickshire, on Thursday, November 28.
A leading automotive industry analyst is urging caution over 'rip-off' claims that car manufacturers are making up for price cut shortfalls by charging over the odds for optional equipment.
Lucas brand owner TRW Automotive is a step closer to regaining independent status with a buyout bid of $4.73bn (£2.99bn) tabled by New York equity company Blackstone Group
Howard Basford, the accident repair group, made a loss of almost £2m last year. The firm, which last month purchased the 80 per cent stake held by Ford, reported pre-tax losses of £1,928,954 on a turnover of £16,625,857 for the year ending December 31, 2001.
The UK bodyshop industry is being crippled by parts delays costing tens of thousands of pounds, a shock new report reveals. Results of the MVRA's annual Parts Delay Survey show that 85 per cent of accident repair centres are forced to put up with one or two hold-ups a month.
A bid to end the drought of qualified technicians - the industry currently has a shortfall of more than 15,000 apprentices - is being launched by the Institute of the Motor Industry.
Caterham is to drive forward growth by selling cars through MG Rover and specialist sportscar dealerships. So far, the carmaker is in talks with five dealers, which AM understands includes three European sites and two UK retailers.
Polar Group is expected to be confirmed as the buyer of Ford solus dealer group Quartic at the end of next week, following stock taking this weekend.
