Car firms push back against greenwashing allegations September 29, 2022 Car manufacturers have pushed back against allegations they are underreporting the indirect lifetime emissions of their vehicles. A report by European environmental NGO Transport & Environment (T&E) has accused nine of the world’s largest car makers – including Volkswagen, Toyota and BMW – of downplaying the indirect lifetime emissions of their vehicles by, on average, [...]
Porsche shares climb following €75bn IPO September 29, 2022 Posche’s stocks made a strong start on Thursday, climbing as high as 5 per cent following the luxury car maker’s €75bn (£67bn) Frankfurt IPO. Shares increased from an issue price of €82.50 to €86.78 by mid-morning before closing at €82.74. Chief executive Oliver Blume said the company was “very positive about the first price.” “Of [...]
UK automotive recovery threatened by soaring costs September 29, 2022 Despite reporting the fourth consecutive month of growth, the UK’s automotive recovery is threatened by increasing costs. Figures released today by the Society of Motor Manufacturers and Traders (SMMT) revealed that 49,901 units were built in August – 34 per cent up year-on-year but 45.9 per cent down on pre-pandemic levels. Overall output remains 13.3 [...]
Pendragon suitor Hedin could consider withdrawing £400m bid if approached by 35p or above offer September 28, 2022 Pendragon’s suitor and majority stakeholder Hedin could consider withdrawing its £400m bid if approached by an offer of 35p per Pendragon share or above. This comes as Pendragon announced on Tuesday a review of its strategic options to maximise shareholder value. The Swedish group – which owns a 26 per cent share in the company [...]
Volkswagen Multivan eHybrid review: inner space September 26, 2022 Volkswagen’s replacement for the Caravelle proves why MPVs still work for families. We drive the practical and retro-styled new Multivan.
Hedin Group approaches Pendragon with new £400m takeover bid September 26, 2022 Pendragon has confirmed it has received a new takeover approach from its largest shareholder, Hedin Group.
Union launches collective grievance against Bolt over holiday pay September 22, 2022 The union GMB has launched a collective grievance on behalf of Bolt drivers over holiday pay. The union said it was seeking to secure “future and past of drivers’ earnings” when it comes to holiday pay, as the UK Supreme Court established an industry standard last year. “It’s a simple fact that Bolt owes drivers [...]
Bizzarrini 5300 GT Corsa Revival review: driving a Le Mans legend September 20, 2022 Tim Pitt drives the Bizzarrini 5300 GT Corsa Revival, an authentic recreation of the car that raced at Le Mans in 1965.
IEA calls for global ban on petrol and diesel car sales by 2035 September 20, 2022 The International Energy Agency (IEA) has called for a global ban on the sale of petrol and diesel cars by 2035. In a report published today, the intergovernmental agency said that global progress on the transition to net-zero transport is falling short of Paris Agreement targets. The study revealed that electric vehicles need to increase [...]
Cazoo shuts EU operations down as it targets return to profitability September 8, 2022 Online car retailer Cazoo announced on Thursday it will shut down its EU operations as it targets a return to profitability by the end of next year. The company reported in August a £243m half-year loss, which prompted a review of its business. Cazoo said its EU operations would require additional external capital, which is [...]