Nissan supplier to create almost 200 jobs with new £50m EV factory January 16, 2025 A major supplier of Nissan has invested nearly £50m to open a new factory in Sunderland, creating 183 high-skilled jobs for the local region. Jatco, a Japanese firm which makes gearboxes for global automakers, will build electrified powertrains for Nissan’s nearby gigafactory. Situated in Sunderland’s International Advanced Manufacturing Park, the 138,840 sq ft plant is [...]
Profit stalls at iconic motorcycle maker Triumph January 7, 2025 Profit has stalled at iconic motorcycle brand Triumph as an economic downturn in China and a fall in the value of sterling impacted its sales. The Derbyshire-headquartered business, which is owned by billionaire John Bloor, has reported a pre-tax profit of £72.6m for the year to 30 June, 2024, up slightly from the £72.3m it [...]
Seeing Machines gets huge boost from auto giant Mitsubishi December 23, 2024 It has been announced that Japanese auto giant Mitsubishi will invest £26.2m into the Aim-listed automotive tech firm Seeing Machines. The partnership will see Mitsubishi’s electric mobility arm become a significant shareholder in the company, taking a 19.9 per cent holding. Shares in Seeing Machines soared nearly 20 per cent on the news. Launched in [...]
Honda and Nissan merger talks spark UK job fears December 18, 2024 Experts say the UK's unfavourable tax environment and declining automotive sector put it at greater risk as the industry consolidates.
Porsche holding company warns of £17bn writedown in Volkswagen stake December 14, 2024 Volkswagen is suffering from high costs, fierce Asian competition and a prolonged bitter conflict with unions over plant closures.
Jaguar: First look at electric car revealed following rebrand backlash December 3, 2024 Jaguar has revealed the first look at its new luxury electric car following a backlash over its recent rebranding. The iconic Britich carmaker sparked criticism last month after switching up its logo to ‘JaGUar’ and launching an ad which included slogans such as “delete ordinary” and “copy nothing.” The move led to accusations Jaguar was [...]
Webuyanycar sales plunge by £1bn after slide in used car prices December 2, 2024 Sales at Webuyanycar plunged by almost £1bn in its latest financial year as a sharp fall in the value of used cars hit the motor marketplace, it has been revealed. The company, which is owned by Constellation Automotive, has reported a revenue of £2.57bn for the year to 31 March, 2024, according to newly-filed accounts [...]
Stellantis: Shares in Vauxhall owner plunge after boss’s shock resignation December 2, 2024 Stellantis last week placed more than 1,000 jobs at risk after announcing plans to close its manufacturing facility in Luton.
Why UK petrol and diesel prices are still sky high despite recent fall November 28, 2024 The price of petrol and diesel in the UK fell between June and October 2024 but the margin retailers are making from each visit to the pump has surged. According to new figures from the Competition and Markets Authority (CMA) fuel prices decreased in the period because, in part, of the changing crude oil prices [...]
Aston Martin raises £210m following profit warnings November 27, 2024 Falling demand in China, delivery delays and the wider push into electric vehicles (EVs) have hit Aston Martin shares over the last year.