6:50 am, October 20, 2026
Consumer confidence slumps to lowest point in more than three years
Consumer confidence has slumped to its lowest point in more than three years amid inflation and rate hike fears, a survey suggests.
October saw a sharp deterioration in confidence, with 57% of households expecting a shift to higher interest rates and spending and saving becoming increasingly constrained, according to S&P Global figures.
The survey, collected monthly since 2009 and based on a panel of 1,500 UK households, slid for a third straight month to 41.3 – the lowest since July 2023.
Online tax crackdown must not ‘unfairly’ hit small UK businesses, eBay boss says
The Government must ensure small UK businesses are not ‘unfairly’ penalised if it goes ahead with reforming the way tax is collected on online marketplaces, eBay’s boss has said.
Chancellor John Healey is reportedly going to announce plans to make online marketplaces responsible for collecting VAT owed by all retailers selling on their platforms, as part of his upcoming Budget.
Online marketplaces are required to collect VAT on sales made by overseas businesses to UK customers, but some foreign firms have been said to use shell companies to bypass the rule.
Mercedes-AMG GT SUV arrives with tri-motor setup and 1,153bhp
Mercedes-AMG has unveiled its new GT SUV, which arrives as the world’s most powerful production SUV.
Hitting the range as the most potent SUV in the brand’s line-up, the electric GT SUV will be available in three specifications – 63, 55 and 53 – with the most powerful 63 model able to deliver 1,153bhp from its three-motor line-up.
It allows the GT SUV to go from 0-60mph in 2.4 seconds and on to a limited top speed of 168mph.
The markets
European stocks sank on Monday following a weekend of protests in France, and despite a rebound in US technology stocks.
In London, the FTSE 100 Index ended down 117.21 points, 1.1%, at 10,764.69.
In European equity markets on Monday, the CAC 40 in Paris ended down 1.1%, while the DAX 40 in Frankfurt retreated 1.2%.
Monday on Car Dealer
Used Car Awards 2026 Shortlist: Which dealers have made the cut?
The shortlist for the Used Car Awards 2026, sponsored by Black Horse, has been revealed today after a tough first round of mystery shopping.
‘We can only say we’re sorry’: Car Planet boss defends firm after social media criticism
Car Planet is improving its aftersales processes after online criticism, with boss Faheem Miah admitting negative reviews have been difficult to handle as the rapidly growing used car supermarket works to resolve customer complaints.
Citygate Automotive plunges to £4m loss as dealer group axes struggling sites
Citygate Automotive slumped to a £4.05m pre-tax loss in 2025 despite rising sales and turnover, blaming margin pressures and higher costs as it axed struggling sites and reshaped its dealership portfolio.
Vehicle cloning reports hit record high as more than 11,400 drivers dispute fines
Vehicle cloning complaints hit a record 11,402 in 2025, up 9% year-on-year, as the RAC calls for tighter number plate supplier checks, stronger security standards and tougher enforcement against illegal ‘ghost’ plates.
Tom Hartley Jnr entrusted by McLaren Racing to sell five historic Formula 1 cars
Tom Hartley Jnr has been appointed to sell five historic McLaren F1 cars driven by legends including Senna, Hamilton and Norris, with the manufacturer hoping collectors will buy and drive the machinery.
Union claims strike by offshore workers could disrupt fuel supplies
More than 160 offshore workers are set to go on strike, with a union claiming it could leave UK fuel supplies from the North Sea disrupted.
The workers from oil and gas operator Apache are due to down tools for 24 hours starting on Wednesday October 21 in a pay dispute.
Another strike is due to take place on November 4.
Musk pledges a share of his SpaceX company to ‘every kid in America’
Billionaire Elon Musk has pledged to give one share of his company SpaceX to ‘every kid in America’.
The offer arrived a day after artificial intelligence company Anthropic announced in a social media post that it will commit 5% of its shares to a new ‘public benefit’ fund.
In a response to that Sunday post, Mr Musk wrote: ‘I recommend giving the shares directly to the public.’
Weather outlook…
Scotland and Northern Ireland will be cloudy and wet, with spells of rain moving through.
Northern England and Wales can expect unsettled conditions, while the Midlands sees periods of rain and limited sunshine.
Southern England will also be damp and cloudy, with temperatures around 10–12°C across much of the UK.