The Society of Motor Manufacturers and Traders (SMMT) is expecting the UK’s motor industry to face a challenging few months amid “difficult conditions”. The comments from the industry body come shortly after it announced sales of new cars in the UK rose by 1.8% in 2010, although volumes were still at their second-lowest in the [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a sharp rise in UK car production for the month of June. Car production surged 28.6% against the same month a year ago, while production for the first half of 2010 is 55% higher than the same period last year, The SMMT [...]
Business Secretary Vince Cable has warned that the UK’s car industry will not receive any further funding from the Government. Mr Cable was speaking at a conference in London organised by trade body, the Society of Motor Manufacturers and Traders (SMMT). However, he said the industry is “incredibly important to the UK economy” and insisted [...]
Brits prefer driving a nice car to having a financially sound pensions plan, according to new research published this week. A study by Standard Life found 54% of consumers care strongly about their car. This is compared to just 46% who place high value on their pension pot. Women were found to care more about [...]
Official data has today revealed that US consumer prices fell in April by 0.1% on a monthly basis – the first decline in 13 months. The fall was attributed to declines in petrol, housing, car and clothing prices according to the Labor Department. Petrol prices fell by 2.4%, clothing costs fell 0.7%, while food costs [...]
The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales grew by 26.6% in March compared with the same month in 2009, yet again boosted by the Government’s scrappage scheme. The £400 million initiative, which was launched last May to boost the ailing car industry, paid drivers of cars at least [...]
Japanese carmaker Nissan has announced it will build its electric car at its Sunderland plant. The announcement will safeguard hundreds of jobs when production begins in 2013 – as part of a £420 million investment from Nissan. Meanwhile, Trevor Mann at Nissan said the Government had played a major part in the carmaker’s decision to [...]
The European Automobile Manufacturers Association has today revealed registrations of new cars in Europe grew an annual 3.2% in February to 1,000,754 vehicles. However, a severe fall of 30% was noted in Germany as the country’s scrappage scheme expired, but the fall was offset by growth in Italy and the UK, which still have incentive [...]
The Society of Motor Manufacturers and Traders (SMMT) has today revealed sales of new cars grew by 38.9% in December 2009 compared with the same month in 2008, boosted by the Government’s scrappage scheme. The ‘cash for bangers’ scheme pays consumers £2,000 to get rid of their old cars and replace it with a more [...]
Chinese state media has reported that annual car sales and production in China has accelerated and topped the 12 million mark to the end of November. In addition, the Xinhua News Agency reported that the China Association of Automobile Manufacturers expects car sales and production to exceed 13 million units for the full year. China [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a fall in UK car production. Car output declined 6.7% in October compared with a year ago, however, it was the smallest monthly drop this year. According to the SMMT, there were 106,400 cars made in October and so far this year, [...]
The Society of Motor Manufacturers and Traders (SMMT) has today revealed sales of new cars grew by 32% in October compared with the same month in 2008, boosted by the Government’s scrappage scheme. October also represented the fourth consecutive monthly rise. July saw the first monthly rise, prior to that there were 15 successive months [...]
According to the Society of Motor Manufacturers and Traders (SMMT), UK car production fell 16% in September compared with the same month last year. However, the SMMT said it was the smallest fall for 12 months and was considerably less than the annual rate of fall of 31.5% reported in August. The SMMT attributed the [...]
The Society of Motor Manufacturers and Traders (SMMT) today announced an annual fall of 31.5% in the number of new cars made in the UK last month. The decline in production was worse than the 17.9% fall seen in July, but this was partly due to car plants having extended shutdowns in August. According to [...]
The Office for National Statistics has today revealed a rise in UK manufacturing output during July, boosted by a sharp improvement up in car production. Factory output rose by 0.9% in July when compared with the previous month – treble the figure that analysts had forecast and the fastest rate in 18 months. However, output [...]
The Society of Motor Manufacturers and Traders (SMMT) has today revealed a further rise in car sales as a result of the Government’s car scrappage scheme. The scheme, which was launched on 18 May to boost the ailing car industry, pays consumers £2,000 to get rid of their old cars and replace it with a [...]
The Society of Motor Manufacturers and Traders (SMMT) has today revealed a fall in car production but said the fall was eased by the car scrappage scheme. According to the SMMT, there were 107,635 cars made in the UK in July 2009 – a fall of 17.9% compared with the same month a year earlier. [...]
The ailing car industry has received a major boost today after figures from the Society of Motor Manufacturers and Traders (SMMT) revealed a rise in new car sales. According to the SMMT, the rise was due to the Government’s car scrappage scheme, branded ‘bangers for cash‘. The scheme, launched on 18 May, pays consumers £2,000 [...]
It seems that the US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme is proving successful after July has been the best month for sales in almost a year. While both Chrysler and General Motors (GM) posted a fall in sales, Ford reported that sales were up 2.3% from a year [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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