European car makers face €7.4bn bill to meet looming EU emissions rules April 3, 2019 The biggest car manufacturers in Europe are careering towards a €7.4bn crash in profits from the cost of meeting the EU’s emissions rules, UBS has warned. Regulations set to come into effect in 2021 will force car firms such as Volkswagen, BMW and Renault to produce no more than 95g of CO2 per kilometre, but [...]
Ford’s British operations hang in the balance as no-deal Brexit looms large April 2, 2019 Ford has delivered the latest warning for the UK car industry after Brexit, saying it has yet to decide on its longer-term plans in Britain. The second-biggest US car maker said this morning it was already spending tens of millions of euros preparing for a possible no-deal scenario, in which case it would have to [...]
Daimler and Chinese firm Geely team up to manufacture Smart compact city cars March 28, 2019 Daimler is to produce its next wave of Smart model electric cars in China via a joint venture with Chinese car manufacturing giant Geely. Geely took a stake of nearly 10 per cent in the German car maker last year, saying it wanted to create an alliance to make electric and autonomous vehicles (EVs and [...]
Car manufacturing ‘paralysed’ by no-deal Brexit threat as output drops for ninth straight month March 28, 2019 British car manufacturing suffered its ninth consecutive month of decline in February, as the industry continues to suffer from Brexit uncertainty and plummeting demand in China. Car makers produced 123,203 vehicles last month, according to the Society of Motor Manufacturers and Traders (SMMT), a drop of 15.3 per cent on the same period last year. [...]
JCB digs out £65m for sixth Indian factory as manufacturer continues expansion March 26, 2019 British digger manufacturer JCB is to splash out £64m on a new factory in India, its biggest market. The firm, which has been manufacturing in in the country for 40 years, said the new plant would make parts for global production lines. Read more: JCB quits membership of the CBI JCB already has factories in Delhi, [...]
Euro drops as Eurozone manufacturing activity hits six-year low March 22, 2019 The Eurozone’s economy lost momentum again in March as Germany and France's manufacturing sectors struggled to overcome global headwinds, according to a closely-followed indicator. Read more: Wages up across Europe despite gloomy economic climate Manufacturers across the economic area suffered their steepest downturn in seven years this month, the IHS Markit Eurozone composite purchasing managers’ index [...]
Toyota defies Brexit blues to produce new model at UK factory March 20, 2019 Toyota has given Britain’s car manufacturing industry a much-needed boost today, announcing it will produce a new model for Suzuki at its plant in Derbyshire. The car will be based on a Toyota Corolla model which is already built at the plant, and comes as part of a wider global partnership announced by the two [...]
Siemens commits to building Goole factory ‘whatever the Brexit outcome’ March 11, 2019 Industrial giant Siemens has confirmed its commitment to building a factory in Goole, east Yorkshire, despite jitters in the manufacturing sector over Brexit. Siemens' head of rolling stock William Wilson told Morning Wire that the firm, which won a £1.5bn contract to build Transport for London's (TfL) new Piccadilly Line trains, is "committed to building our [...]
Buckle your seatbelts for the next global recession – the world is not prepared March 5, 2019 A decade on from the global financial crisis, the world economy is not in good health. Britain is paralysed by Brexit uncertainty, the Eurozone – including its seemingly invincible German powerhouse – is stuttering, and China is experiencing its slowest economic growth since 1990. Read more: Eurozone economic confidence falls to fresh two-year low Even [...]
Jaguar Land Rover could announce fresh round of UK investment in early March despite industry turmoil March 2, 2019 Jaguar Land Rover is reportedly planning to buck the trend of car makers fleeing the UK by making a major investment in British advanced manufacturing. The manufacturer, which is owned by Indian firm Tata, reportedly said fresh investment in the UK was imminent, and an announcement could come in early March. Read more: Tata Motors’ [...]