Saab Buyer Backs Out Leaving 3,000 Jobs Hanging

GM's planned sale of Saab to Koenigsegg, the Swedish sports car-maker, has collapsed casting doubt over more than 3,000 UK jobs. The tiny Swedish buyer, which was backed by China's Beijing Automotive Industry Holdings (BAIC), said today that it 'regretted' that it could not follow through on its plans. In a statement it said: "After six months of intense and goal-oriented work we have come to the painful and difficult conclusion that we are not going to be able to carry out the acquisition of Saab." GM Europe, Saab's bankrupt US parent, announced in … read more

Published on: 09:12 30-11-2009

Vauxhall Plant Escapes First Round Of Redundancies

General Motors’ Vauxhall plant at Ellesmere Port will escape redundancies under an early restructuring plan laid out by the US carmaker. The plant will work on production of the new Astra Sports Tourer, Nick Reilly, president of GM’s international operations said. On November, GM pulled out of a deal to sell Opel, its German car manufacturer, and Britain’s Vauxhall to Magna International, a Canadian auto parts maker. Opel and Vauxhall, which together make GM’s European operations, employ more than 50,000 workers. About half of the workers ar … read more

Published on: 12:29 27-11-2009

GM To Axe 9,000 Jobs And Leaves UK Hanging

General Motors has confirmed plans to cut 9,000 jobs from its European plants, but left the fate of the company’s 5,000 British workers hanging in the air. Nick Reilly, head of the company’s European operations said that 50 to 60 per cent of the jobs cuts would be in Germany, where around 25,000 of GM’s 45,000-strong work force are based. He said that the company’s capacity in Europe would be cut by 20 per cent under a restructuring plan, which is being put out to consultation with the workforce and interested parties for two or three weeks. … read more

Published on: 09:11 26-11-2009

Saab Could Be Near End Of Road As Sale Plan Fails

The future of Saab was in doubt last night after General Motors (GM), its American parent, said that a deal to sell the troubled Swedish carmaker had fallen through. GM confirmed that the sale of Saab to Koenigsegg, a Swedish manufacturer of sports cars, had been terminated at Koenigsegg’s request. The failure of the talks raises the possibility that GM may decide to scrap Saab, as it did last month when it said that it would close its Saturn brand after failing to find a buyer. Saab, one of Sweden’s best-known brands, employs 3,400 people in th … read more

Published on: 08:46 25-11-2009

Bloodhound Supercar Scents A 1,000mph Record For Britain

Britain’s car industry may be slowing down but British engineers can still build the world’s fastest car. Construction work begins today on a car that engineers hope will break the land speed record by more than 200mph. The car, Bloodhound, is designed to travel faster than 1,000mph (1,600km/h) — far in excess of the speed of sound and the equivalent of crossing four football pitches every second. The present record of 763mph was set in 1997 by the RAF pilot Andy Green, who will also drive Bloodhound. The time trial is scheduled for 2011 and will take place … read more

Published on: 09:14 24-11-2009

Government Gears Up £30m To Promote Charging Points

Electric cars and unreliable wind power could bring down Britain’s electricity network, National Grid said as the Government launched a £30 million grant scheme to promote the installation of charging points for plug-in cars. Steve Holliday, National Grid chief executive, said that without smart meters in homes and an intelligent system to balance supply and demand, the network would be unable to cope. “To make this possible, we need a smart grid,” he said. “You can’t have lots of renewable energy [and] lots of electric vehicles — you can’t have all … read more

Published on: 15:04 20-11-2009

Taxpayer To Suffer As Vauxhall Limits Job Losses

The new head of Vauxhall said yesterday he was confident that far fewer than 800 workers in the UK would be made redundant as the carmaker indicated that it wanted loans and guarantees from the British taxpayer. However, the car group is also seeking a deal with unions to extract concessions from workers that could include pay cuts and reductions in benefits. It is also understood that Vauxhall is actively seeking a manufacturing partner to rival Renault to secure the production of another vehicle at the company’s Luton plant. The Luton site produces the Vivaro, … read more

Published on: 12:54 19-11-2009

Taxpayer To Suffer As Vauxhall Limits Job Losses

GM Chief Hints That Future Of Vauxhall’s Ellesmere Port Factory Is Secure

General Motors, the troubled American carmaker, gave its strongest hint so far yesterday that the future of its Vauxhall plant at Ellesmere Port, Cheshire, which employs 2,100 people, is safe. Fritz Henderson, GM’s president and chief executive, would not comment on the number of likely job cuts as he completes a restructuring of GM’s Opel and Vauxhall business in Europe. However, he gave a strong vote of confidence in the Ellesmere Port plant, which has just started production of the new, critically acclaimed Astra model. Mr Henderson said: “Ellesmere Port … read more

Published on: 08:47 17-11-2009

Business Big Shot Of The Week Nick Reilly

Educated at Cambridge, Nick Reilly has impeccable manners and a reputation as a skilled negotiator, but these are not the only attributes that have singled out this affable engineer as the potential saviour of the Vauxhall and Opel operations in Europe. Troubled bosses at the headquarters of General Motors in America are aware that Mr Reilly probably knows the business better than anyone. A GM veteran of 34 years, he spent 15 years in various posts at Vauxhall in the 1980s and 1990s, ending as chairman and managing director for the five years to 2001. He has also served in senio … read more

Published on: 09:16 16-11-2009

Peugeot Moves Into Car Rental On Way Back To Profit

PSA Peugeot-Citroën is to offer pre-paid cars by the day to young city dwellers as part of the French motor company’s drive to regain market share and enhance the appeal of its brands with consumers and investors. The new business, branded Mu, is to be launched in Paris, Berlin and Amsterdam this winter and will reach Britain before the summer. Within less than a year, Londoners will be offered “pre-paid mobility on demand” from Peugeot dealerships through a payment card that offers consumers the choice of a car, a small van or a scooter for a day or a weekend. … read more

Published on: 09:25 13-11-2009

Renault Nissan Takes On Nano In The Race To Sell The World’s Cheapest Car In India

Renault-Nissan is preparing to launch what is likely to be the world’s cheapest car in 2012, undercutting the Tata Nano, which sells in India for as little as 100,000 rupees (£1,300) plus taxes. Carlos Ghosn, the group’s chief executive, said yesterday that Renault-Nissan had signed a deal with Bajaj Auto, an Indian group best known for its motorcycles and three-wheelers. The companies are collaborating on the development of an ultra-low-cost, efficient runabout, codenamed the ULC, which will go on sale on the sub-continent in 2012 and may be offered elsewhere later. … read more

Published on: 08:34 11-11-2009

General Motors' Executives Fly In To Settle Vauxhall’s Way Forward

Senior executives from General Motors will come to London this week to present their detailed business plan for the future of Vauxhall. The American delegation will meet ministers from the Department for Business, Enterprise and Regulatory Reform face-to-face for the first time since the company decided not to sell GM Europe, its European division, which includes Vauxhall. Fritz Henderson, the GM chief executive, and Nick Reilly, the head of international operations and a former head of Vauxhall, will fly to Germany today for meetings with the German Government an … read more

Published on: 11:06 10-11-2009

GM Boss Carl Peter Forster Set For Jaguar

Carl-Peter Forster, the departing boss of General Motors Europe, has been lined up to take charge of Jaguar Land Rover, the Midlands-based luxury carmaker. Senior sources in Frankfurt and Detroit said Forster, who led GM Europe through its recent turbulent negotiations with the German government and would-be buyer Magna, was sounded out about the job earlier in the year, and is expected to join within a few months. GM Europe, which owns Opel in Germany and Vauxhall in Britain, announced on Friday evening that Forster was leaving. Forster, 55, was born and spent pa … read more

Published on: 09:10 09-11-2009

GM Chief Says He Can Run Carmaker As Global Group

General Motors (GM), the US carmaker, is confident that it can raise sufficient finance to restructure its European Opel unit, which owns the two Vauxhall plants in the UK. Fritz Henderson, the chief executive, said yesterday that the company would unveil restructuring plans for Opel soon. “We feel confident that the plan will be financeable,” he said. The US Government initially placed restrictions on GM’s ability to shift funds to its overseas units in return for $50 billion of bailout money. But the financing provided by the … read more

Published on: 17:09 06-11-2009

Toyota In Profit After Cost Cuts And Scrappage

Toyota, the world’s biggest carmaker, has unexpectedly clawed its way back to profit after a summer of scrappage incentive schemes in the US and Europe and a round of ferocious cost cutting. But the company was swift to quash any premature optimism over the state of the American car market, where it said conditions were still “very severe” and the company is battling to limit the damage of a 3 million-vehicle recall. The company is also mulling over plans to significantly bolster its research and development presence in China – a market that it has failed to exploit with … read more

Published on: 10:04 05-11-2009

Russia Weighs In On Growing Row Over GM U Turn

Russia today added to growing international consternation over General Motor's (GM) decision not to sell its European operations and warned that its lawyers were reviewing the surprise move. A spokesman for Vladimir Putin, the Russian Prime Minister, said Magna, the Canadian car parts maker that was days away from buying GM's Vauxhall and Opel operations, and Sberbank, its Russian bid partner, planned to conduct a "deep legal analysis of the situation." However, sources close to Magna said that, despite the months spent on the bid, which was in its advanced stages … read more

Published on: 14:51 04-11-2009

Admiral Staff To Recieve Bonus

Staff at the car insurer Admiral will be receiving bonuses worth £1,500 after helping the group into record profits. Roughly 3,000 workers will receive free shares worth £4.5million in October. The group, which also directs Diamond and elephant.co.uk, made £105million on the first and second quarter of this year, getting around 300,000 customers. The 5% increase was driven by the 18% leap in customers taking the total to 1.9 million. But the firm also jacked up premiums by an average of 5.5%. Boss Henry Engelhardt said: "Wow! Considering the economic climate and pathetic inve … read more

Published on: 12:37 26-08-2009

UK Car Sales Increase For The First Time In Over A Year

In Britain, car sales has risen for the first time since April last year - since the government introduced it's "cash for bangers" scheme. The Society of Motor Manufacturers and Traders (SMMT) stated that new car registrations rose 2.4% last month compared to last year to 157,149, an increase of almost 3,800. A fifth of all sales were gained from the car scrappage scheme introduced, which accounts for 33,000 vehicles, in July. Smaller cars from manufacturers seemed to benefit the most from this, including Ford, Hyundai, Toyota, Vauxhall and Kia. The … read more

Published on: 13:01 06-08-2009

Nissan Unveils New Electric Car The Leaf

Nissan has unveiled what it is claiming to be the first mass-marketed electric car — a five door hatchback called Leaf. The new car will be in showrooms in Britain, Europe, the U.S. and Japan by the end of next year. The family-sized car has a max range of 100 miles and a top speed of about 90mph Nissan's new car could compete with the Prius the insight and other hybrids. Nissan also emphasize how electric cars emit no exhaust, unlike other hybrids and conventional cars. In June Nissan was granted $1.6 billion by the U.S. Department of Energy and … read more

Published on: 11:00 03-08-2009

BSM To Replace Vauxhall With Fiat

The biggest driving school in Britain has announced that it is going to replace all of its Vauxhall cars with Fiat models. BSM has had a 16-year relationship with Vauxhall, using its Corsa and Astra models. Fiat will now be supplying BSM with 14000 cars over the next four years. The majority of the cars being received is the Fiat 500 which grabbed Car of the Year 2008. This new partnership also offers £500 discount off a new Fiat if they pass. … read more

Published on: 15:44 28-07-2009

Rolls Royce Big Investment In New Plants

Rolls Royce recently announced that it would build four new factories in the Britain, which is expected to create or secure 800 jobs. The company plans to invest 300 million pounds in the UK, where unemployment is at its highest rate in 12 years. Rolls-Royce announced their plans as the Government launched a £150 million campaign to help manufacturers take advantage of new technologies. The company will receive £45 million to assist manufacturing the new plants. Rolls also plans a new casting facility for turbine blades, a factory making discs use … read more

Published on: 10:59 28-07-2009