The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales grew by 10.8% in June compared with the same month in 2009. The SMMT said the number of new cars sold in the month was 195,226 – representing the 12th consecutive monthly rise and exceeded expectations. However, the Society warns that [...]
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 [...]
The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales grew by 13.5% in May compared with the same month in 2009. The SMMT said the number of new cars sold in the month was 153,095 compared with 134,858 in May 2009 – this represented the 11th consecutive monthly rise. However, [...]
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 [...]
The UK’s car scrappage scheme, which was introduced last May to boost the ailing car industry, expires today after giving the car industry a much-needed boost. The £400 million initiative paid drivers of cars at least 10 years old £2,000 off the price of a new vehicle. The £2,000 grant was made up of £1,000 [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a sharp rise in UK car production for the month of February. Car production surged 62.7% against the same month a year ago and represents the fourth consecutive month that output has seen a year-on-year increase. The SMMT said there 97,255 cars [...]
The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales were up by 26.4% in February compared with the same month in 2009, boosted by the Government’s scrappage scheme. The £400 million initiative, which was launched last May to boost the ailing car industry, pays drivers of cars at least 10 [...]
The Society of Motor Manufacturers and Traders (SMMT) has today revealed sales of new cars grew by 29.8% in January compared with the same month in 2009, boosted by the Government’s scrappage scheme. The £400 million initiative, which was launched last May to boost the ailing car industry, pays drivers of cars at least 10 [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a severe fall UK car production. Car output fell 47.5% in December compared with a year earlier, with 53,823 cars produced. For the 2009 year as a whole, 1,446,619 cars were produced – a fall of 5.7% on the previous year. The [...]
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 [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a rise in UK car production. Car output rose 15.7% in November compared with a year earlier – the first time car output rose since September 2008. According to the SMMT, there were 112,948 cars made in November and so far this [...]
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 [...]
It has been reported that Business Secretary Lord Peter Mandelson will today announce that the car scrappage scheme, branded ‘Cash for Bangers’ will be extended. 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 more [...]
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 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 [...]
Figures released by the Society of Motor Manufacturers and Traders (SMMT) today have provided some good news for the car industry, which has been suffering amid the economic downturn. The SMMT said “We are now beginning to see the positive impact of the scrappage scheme translate into new vehicle registrations.” The UK’s scrappage scheme was [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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