6:50 am, November 11, 2024
Nation falls silent in remembrance
The nation’s war dead have been commemorated by the King as the country fell silent in remembrance of the servicemen and women who paid the ultimate sacrifice.
Charles laid the first wreath at the Cenotaph in recognition of the fallen from conflicts dating back to the First World War, and other floral tributes followed from members of the royal family, Sir Keir Starmer, other political leaders and foreign diplomats.
The solemn ceremony was held after a two-minute silence was observed in the heart of Whitehall and at war memorials in villages, towns and cities across the country.
Whitehall ‘considering lots of different scenarios’ amid tariff fears – minister
Whitehall officials will be ‘considering lots of different scenarios’, a Treasury minister has confirmed, amid concerns about the possible impact of tariffs under the incoming US Trump presidency.
Chief Secretary to the Treasury Darren Jones said that Donald Trump ‘recognises’ the important relationship between the UK and the United States.
But there are fears about the potential impact on the UK economy should the US president-elect introduce tariffs as he has previously suggested.
You can read what a second Trump presidency is likely to mean for the automotive industry here.
Jaguar Land Rover says aluminium shortages dragging on profits
Jaguar Land Rover (JLR) has said a shortage of aluminium putting the brakes on car production has dragged on its earnings in recent months.
The Coventry-based luxury carmaker said the problems were temporary but had led to a 10% drop in profits.
It reported a pre-tax profit of £398m between July and September, a 10th lower than the same period last year. Revenues for the latest quarter were £6.5bn, 6% lower than last year.
Drivers handed £4.1m Dartford Crossing fines by mistake
Drivers were mistakenly handed Dartford Crossing fines totalling more than £4m in 12 months, an investigation has found.
National Highways cancelled 59,007 penalty charge notices (PCNs) in the year after it switched to a new provider to manage payments for the south-east England crossing, Freedom of Information figures obtained by the PA news agency show.
That is compared with 3,595 during the previous 12 months.
What have you missed from Car Dealer?
New survey reveals which car dealers have the best reputation. Does your company make the list?
A recent survey by Car Dealer Magazine has revealed the top car dealers with the best reputation in the UK. Howards Motor Group secured the top spot for the second consecutive year, achieving a high reputation score of 863. The survey was conducted by the firm “Reputation,” which assesses factors like sentiment, engagement, and visibility. The report also includes rankings for individual dealerships and car brands, with Asian manufacturers dominating the top 10.
Briefing: Marshall Motor Group’s results, Auto Trader’s AI leap and car finance is back (mostly)
The latest Car Dealer Magazine briefing highlights key updates, including Marshall Motor Group’s strong financial performance, Auto Trader’s introduction of AI-powered tools for car sales, and a partial recovery in the car finance sector. Despite recent challenges, these developments indicate resilience and innovation within the automotive market.
Family-run Alan Day Motor Group completes acquisition of Kia’s flagship London showroom
Alan Day Motor Group, a family-run business, has acquired Kia’s flagship showroom in London. This purchase expands their portfolio and marks a significant milestone for the group. The acquisition aligns with their growth strategy, enhancing their presence in the capital. Alan Day already represents Volkswagen and Skoda, and this new addition strengthens their multi-brand offering.
Car Dealer Used Car Awards afterparty is back! Find out how to get your tickets now!
The Car Dealer Used Car Awards afterparty is set to return, offering a night of celebration following the awards ceremony. It promises a fun evening with live music, drinks, and networking opportunities for attendees. Tickets for the afterparty are now available for purchase, ensuring a memorable end to the awards night.
Trading Standards: Can a used car dealer legally sell a vehicle as ‘spares or repairs’?
We discuss whether used car dealers can sell vehicles as ‘spares or repairs’. According to Trading Standards, dealers can sell cars under this label, but they must clearly inform buyers that the vehicle is unroadworthy. Dealers are also responsible for providing accurate descriptions and disclosing known faults. Misleading customers, even when selling for parts, could lead to legal issues.
New data shows consumer car finance new business volumes and values grew in September
New data shows that consumer car finance new business volumes and values grew in September. The Finance & Leasing Association reported a 1% increase in new business volumes compared to the same month last year, with values rising by 7%. The growth was mainly driven by new car finance, which saw a 4% increase in volumes. Used car finance volumes, however, remained flat but still contributed to overall growth.
Chinese EV newcomers outsell established brands in major October shake-up
Chinese EV brands outperformed established manufacturers in October, according to new market data. BYD, MG, and Great Wall Motors saw a surge in sales, surpassing traditional brands like Volkswagen and Audi in certain segments. This shift highlights the increasing competitiveness of Chinese electric vehicle newcomers in global markets, especially as they offer more affordable options compared to legacy automakers.
Audi reveals Chinese-only sub-brand called ‘AUDI’
Audi has unveiled its new E Concept which will kickstart the firm’s new Chinese-only sub-brand called ‘AUDI’.
The German car manufacturer has partnered with Chinese manufacturer SAIC Motor to produce bespoke models in China.
The collaboration will allow Audi to enhance its design, engineering, and vehicle development, while SAIC will use its innovation, technology, and research to address specific demands in the Chinese car market.
Reeves to make pensions pitch in first Mansion House speech
Rachel Reeves is expected to unveil pension reforms this week which are intended to channel money into infrastructure and private businesses.
The Chancellor is also expected to use her first Mansion House speech in the City of London to ‘spell out the next phase’ of Labour’s plan in Government, after her key pledge in October’s Budget to ‘fix the foundations’ of the economy.
Her speech on Thursday will come against a backdrop of criticism from the hospitality sector, including signatories to a letter organised by UKHospitality who warned that changes to employers’ national insurance contributions could lead to job losses.
The markets
A weak day of trading for miners and retailers has helped drag London’s FTSE 100 to a three-month low at the end of last week.
The blue-chip index dropped 68.35 points, or 0.84%, to close at 8,072.39 on Friday, the lowest level since early August.
In Paris, the Cac 40 tumbled 1.17%, and in Frankfurt, the Dax fell 0.76%
Weather outlook…
The weather today is expected to be mostly overcast with temperatures ranging from 8°C to 11°C.
Rainfall chances are low, with dry conditions prevailing throughout the day.
Winds will be moderate, and humidity levels will vary from 60% to 90%, making for a typical autumn day with cooler, cloudier weather.
