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Automobiles
Pendragon owner to cut hundreds of jobs in used car overhaul
...“Four CarStore sites will be retained and re-franchised, expanding our retail operations with three existing carmakers, while seven remaining CarStore pods will become Evans Halshaw Direct sites.”...
April 23, 2024
Motor sports
Ford urges Red Bull to be open over probe into F1 racing team principal Horner
...Austrian energy drinks company Red Bull, which owns the team, did not immediately respond to a request for comment....
February 16, 2024
FT Live
Future of the Car
The technology and new business models shaping the next decade in automotive
Tuesday, 7 MaySancroft, Paternoster Square, London EC4M 7DQ, UK
Tesla Inc
Tesla scouts sites for $3bn India car plant in boost for Modi
...Tesla will this month send a team to scout locations in India for a proposed $2bn-$3bn electric car plant, according to two people with direct knowledge of the electric vehicle company’s plans....
April 3, 2024
News updates from April 23: Tesla to speed up launch of ‘affordable’ models; US regulator bans non-compete agreements
General Motors upgrades guidance after quarterly revenue beat
...General Motors shares were up 4.4 per cent in pre-market trading in New York....
April 23, 2024
LexNissan Motor Co Ltd
This Nissan-Honda team will struggle to match EV rivals Premium content
...Honda is falling further behind in the battery EV race after scrapping a $5bn plan to develop affordable battery-powered cars with General Motors last year....
March 18, 2024
Financial & markets regulation
UK regulator warns banks to prepare for costs tied to motor finance probe
...However, it warned that many companies were “struggling to promptly provide the data we need” and said it would extend its review if it did not receive “comprehensive data promptly from a range of firms”...
April 12, 2024
FT Live
Global Banking Summit
The world's top gathering of leaders in finance
Tuesday, 3 DecemberLondon, UK
News updates from March 5: China targets 5% GDP growth in 2024, Gold and Bitcoin hit record highs
Markets update: Hong Kong equities drop after Beijing budget as Tata Motors jumps
...In India, Tata Motors shares rose as much as 7.9 per cent in early trading after the group announced it would be split into two listed companies....
March 5, 2024
Inside BusinessKana Inagaki
Oil and water: why Nissan and Honda are setting aside their rivalry
...Nissan chief executive Makoto Uchida is blunt on the need for new partners, although the company insists its alliance with Renault and Mitsubishi Motors will not be unwound....
April 9, 2024
LexTata Motors Ltd
Range Rover’s cult status should mean a smooth drive at Tata Motors Premium content
...Tata Motors’ stock has more than doubled over the past year, far outpacing the Indian market — quite a feat for a company with a market value of more than $40bn....
February 5, 2024
News updates from January 11: US inflation edges up more than expected, Chesapeake and Southwestern to combine in $7.4bn deal
UK regulator to investigate motor finance commissions
...The UK’s top financial regulator has launched an investigation into historical commission agreements at motor finance companies after finding that companies were rejecting “most” of the “high number” of...
January 11, 2024
Inside BusinessDavid Keohane
Why Nissan needs more than a gamble on solid-state batteries
...The company has responded to the pessimism, recently announcing a new midterm plan to boost sales and launch 30 new models, half of which will be electrified or hybrid....
April 24, 2024
ExplainerUK banks
The banks exposed to a UK probe into motor finance
...However, carmakers are huge global companies with revenues often in the hundreds of billions of pounds....
February 19, 2024
News updates from January 25: US economy grows 3.3% in fourth quarter, ECB keeps interest rate at 4%
Hyundai Motors shares rise despite missing profit estimates
...Hyundai Motors share price rose after announcing its fourth quarter results on Thursday, despite missing operating profit estimates....
January 25, 2024
News updates from February 14: UK inflation holds steady, Uber debuts $7bn share buyback
UK motor insurance prices may have plateaued after first fall in two years
...Car owners have been squeezed by a surge in insurance prices since their pandemic lows, as companies try to reflect a surge in claims costs....
February 14, 2024
News updates from February 15: White House discloses Russian ‘anti-satellite capability’, UK GDP contracts by more than expected
Close Brothers halts dividend payments amid FCA motor finance probe
...Close Brothers has scrapped dividend payments on ordinary shares this year after the UK financial watchdog last month launched a probe into historical motor finance commission arrangements that allegedly...
February 15, 2024
FT Live
US Pharma and Biotech Summit
Strategies for innovation, pricing and access
Thursday, 16 MayNew York, NY, USA
Electric vehicles
Honda and Nissan to join forces to survive EV race
...Companies that cannot respond to the changes will be wiped out,” said Honda’s president Toshihiro Mibe....
March 15, 2024
News in-depthAutomobiles
How VW and Toyota became the targets of an emboldened US union
...But each of the company’s past two pay increases topped $2 an hour....
April 4, 2024
LexUK banks
Why motor finance could be banking’s next PPI car crash Premium content
...Any lenders funding motor finance should worry about how this problem could mushroom....
February 15, 2024
Aston Martin
Aston Martin appoints Bentley’s Adrian Hallmark as chief executive
...Hallmark will be the fourth leader of Aston since Stroll ousted Andy Palmer shortly after his 2020 bailout of the company....
March 22, 2024
Bentley Motors Ltd
Bentley boosted by ‘jaw-dropping’ demand for bespoke cars
...Delays to developing the software for its first EV, as well as stronger than expected demand for its hybrid models, have changed the pace at which the company will push towards selling only battery models...
March 19, 2024
Nissan Motor Co Ltd
Nissan looks for partnerships to cut electric vehicle costs
...The group will maintain its long-term alliance with Renault and Mitsubishi Motors in certain markets such as Europe, south-east Asia and Latin America....
March 25, 2024
News updates from April 23: Tesla to speed up launch of ‘affordable’ models; US regulator bans non-compete agreements
What to watch in North America today
...Other companies: PepsiCo, Freeport McMoran, Halliburton, GE Aerospace, RTX, Lockheed Martin, NextEra Energy, UPS, Philip Morris, Spotify, General Motors and Kimberly-Clark are reporting earnings before the...
April 23, 2024
News updates from November 30: US diplomat Henry Kissinger dies aged 100, US says Indian official directed foiled plot to kill Sikh separatist in New York
General Motors hikes dividend by 33% and announces $10bn share buyback
...“We are finalising a 2024 budget that will fully offset the incremental costs of our new labour agreements,” said chief executive Mary Barra....
November 29, 2023
News updates from November 20: OpenAI staff threaten to quit unless directors resign, Argentine stocks rally over election of Milei
Auto union members ratify contracts at Ford, General Motors and Stellantis
...“Across the three companies, 64 per cent of voting members voted in favour of the agreements”, the UAW wrote on X on Monday, locking in the tentative agreements reached with each company....
November 20, 2023
Drugs research
Diabetes drug offers hope to Parkinson’s sufferers
...Soaring sales of the products have pushed the companies’ valuations to record highs....
April 3, 2024

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