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...This story was corrected to reflect that Group 1 Automotive has 55 sites in the UK, not 51 as indicated in a previous version....
...The new rule is causing a headache for them as there is no effective way to revive sales here,” said Lee Hang-koo at the Jeonbuk Institute of Automotive Convergence Technology, a South Korean research group...
...HOLD: Inchcape (INCH) The share price fall that accompanied the release of Inchcape’s full-year figures had less to do with financial performance than it did with market anxieties linked to the automotive...
...That marks a stark reversal from two years ago when the industry was reporting bumper earnings off the back of surging prices for palladium and rhodium, as automotive demand ran hot....
...The higher forecast came even as the group, which spun off its automotive division last year, boosted operating profits from its continuing operations to £420mn for the year to end December 2023, up from...
...It recently reported a 4 per cent growth in net asset value (NAV) to 684p last year and made two new investments — the biggest being the £90mn commitment towards the buyout of the Steer Automotive group...
...For example, the Ineos Grenadier, a modern successor to Land Rover’s rugged off-road vehicles, is built at a former Mercedes factory acquired by Ratcliffe, which sits at the centre of Europe’s automotive...
...Pendragon, one of the UK’s largest automotive retailers, is to sell all of its car dealerships for £280mn and focus on software, ending a tumultuous period in which the company’s attempts to sell itself...
...Renesas, a key supplier of chips to the automotive industry, has been on a deal spree as it looks to diversify, which included adding the Apple supplier Dialog to its stable....
...He added that demand from China’s “seriously booming” infrastructure and automotive sectors would help offset lower demand from property. “All in all there is a decent demand in China....
...Shares in GKN’s automotive arm fell by a fifth on Thursday following its debut on the London Stock Exchange....
...Following a series of smaller disposals and the demerger of its automotive business, Melrose is now focused on the GKN aerospace operation it acquired as part of its £8bn takeover of the UK engineering group...
...Sales per dealership at US peers Penske Automotive and Lithia Motors are double and almost treble respectively that of Lookers....
...Its plans to formally split the company into automotive and aerospace business snapped into place on Thursday....
...A different situation awaits Aptiv, which is how Delphi Automotive renamed itself after the power-train spin-off five years ago. Aptiv held on to other, mostly higher-tech, businesses of Delphi’s....
...September 25, 2018: Wandisco announces an “initial $200k contract win with a major automotive customer” it does not name....
...Chinese automotive giant Zhejiang Geely Holding Group’s plan to build closer ties with Aston Martin Lagonda is the latest in a series of wins for by the luxury carmaker, whose shares have trebled in value...
...The share price of Vertu Motors rose by 4 per cent as investors enjoyed the automotive retailer’s confirmation of record annual revenues, boosted by higher vehicle prices and the impact of acquisitions....
...Following a series of smaller disposals and last month’s demerger of its automotive business, Melrose is now focused on the GKN aerospace operation it acquired as part of its controversial £8bn takeover...
...The company on Thursday confirmed that its plan to demerge its automotive business Dowlais and list it separately in London by next month was on track....
...The group, which owns Aston Martin and Jaguar Land Rover dealerships, is set to make $1bn in annual revenue this year, Edward told Automotive News in February....
...At the front of the push is TDR Capital, the UK private equity owner of Constellation Automotive. It took a 3.1 per cent stake in Aim-listed Vertu Motors earlier this month....
...He was talking about aerospace and automotive supplier GKN, bought for £8bn in 2018 after a bad-tempered hostile takeover battle....
...The opposition Labour party has pledged to provide £2bn to support the construction of eight battery gigafactories in the UK to sustain the country’s automotive industry if it were to form a government....
...New markets including automotive are helping drive revenues. They rose 28 per cent over the previous year in the latest quarter....
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