Profit slumps by over £400m at Lloyds-owned car leasing firm August 27, 2024 Profit at the car leasing company owned by Lloyds Bank slumped by more than £400m during 2023, it has been revealed. Lex Autolease, which is headquartered in London, has posted a pre-tax profit of £124.4m for its latest financial year, according to newly-filed accounts with Companies House. The new total comes after the business posted [...]
Subaru sales accelerate as UK demand outstrips supply August 22, 2024 Sales at the UK company that imports Subaru cars surged by more than 40 per cent during its latest financial year despite demand outstripping supply. Subaru UK has reported a turnover of £75.9m for 2023, according to newly-filed accounts with Companies House. The total comes after the business posted a turnover of £48m for the [...]
Jaguar Land Rover and Porsche supplier almost triples sales August 21, 2024 Andersen EV, an electric charging start-up which supplies the likes of Jaguar Land Rover and Porsche, almost tripled its sales during its latest financial year. The Bedfordshire-headquartered company, which was formerly known as Evios, has reported a turnover of £3.7m for the year to 31 March, 2024, up from the £1.3m it reported in the [...]
Falling number of London taxi drivers leads to LEVC losing more than £100m August 21, 2024 LEVC is attempting to boost its net worth by £100m to combat the falling number of taxi drivers in central London and the expected further decline in its sales this year. The Coventry-headquartered electric taxi maker, which is also known as London EV Company, is in the process of increasing the value of everything a [...]
Dowlais considers sale of powder metallurgy unit as EV volatility dents profit August 13, 2024 Boss Liam Butterworth said the firm had adopted to a "relentless" focus on cost control ahead of an anticipated dip in second half revenue.
Elon Musk hires operations chief for Tesla’s household energy supplier August 4, 2024 Tesla has hired a new head of operations to help lead the launch of its household energy supplier as Elon Musk presses ahead with his vision for houses to have a "virtual power plant" of batteries.
Aston Martin loses over £200m ahead of production ramp-up July 24, 2024 A fall in demand for luxury models led to Aston Martin losing more than £200m during the first half of 2023, it has been revealed.
Carwow valued at £250m as it taps US investor in funding round July 14, 2024 San Francisco-based Bessemer Venture Partners has put its weight behind the UK online vehicle marketplace.
UK set to miss EV sales targets by 2030 or 2035 July 3, 2024 The UK is set to significantly miss current targets for electric vehicle (EV) sales by either 2030 or 2035, when bans on the sale of petrol and diesel cars will be introduced, according to a new report.
Electric vehicles lead ‘massive change’ in UK factories June 27, 2024 Electric vehicles made up almost two fifths of all new cars produced in the UK in May, according to new figures, as 26,475 models rolled off factory lines.