6:50 am, April 2, 2025
Carmakers and trade bodies fined almost £78m by UK watchdog
Ten carmakers and two industry groups have been fined almost £78m by the UK regulator for ‘colluding to restrict competition’ over vehicle recycling.
It is part of a wider crackdown with the EU’s antitrust watchdog simultaneously imposing penalties worth a combined €458m (£383m).
The Competition and Markets Authority (CMA) said the firms broke the law because they agreed not to compete with each other when advertising what percentage of their cars can be recycled.
Trump tariffs could worsen UK job cuts but consumers may be spared, say experts
UK consumers could be spared from price rises following Donald Trump’s tariffs but job cuts could worsen for some of the hardest-hit firms, experts say.
Mr Trump has imposed tariffs on UK aluminium and steel, and carmakers exporting to the US, in a bid to boost American production and protect home-grown manufacturers.
The tariffs could have a major impact on the country’s car industry because it could make it harder for UK businesses to sell to the US. The manufacturing industry is already preparing to face significant disruption.
Hyundai’s Insteroid concept revealed in full at Seoul Mobility Show
Hyundai has unveiled its gaming-inspired Insterioid concept at the Seoul Mobility Show in Korea.
Based on the compact electric Inster, the Insteroid blends the name ‘Inster’ with ‘Steroid’ to reflect its spirited nature and muscular look’, according to Hyundai.
While not confirmed for production, the Insteroid showcases a beefed-up look, which could perhaps influence a future performance version of the Inster.
Global stocks bounce back ahead of Donald Trump’s ‘liberation day’
Global stocks have bounced back after tariff uncertainty sparked widespread turbulence in the financial markets.
London’s FTSE 100 moved higher on Tuesday, gaining 51.99 points, or 0.61%, to close at 8,634.8.
Europe’s top indexes also staged a rebound after starting the week with sharp losses. In Frankfurt, the Dax jumped 1.7% and in Paris, the Cac 40 gained 1.1%.
Tuesday on Car Dealer
FCA says Court of Appeal ruling ‘goes too far’ as car finance hearing gets underway
The FCA has stated that last year’s Court of Appeal ruling on car finance commission disclosure ‘goes too far’, as Close Brothers and First Rand Bank begin their appeal at the Supreme Court, challenging the decision’s impact on the industry.
Saxton 4×4 posts seven figure losses for 2024 as ‘challenging’ year sees profits wiped out
Saxton 4×4 has reported a pre-tax loss of £3.76m for the year ending June 2024, following a challenging period marked by market volatility and rising costs. Turnover fell 19.2% to £202.19m, with management focusing on long-term stability.
Vauxhall slashes top EV prices as it looks to get around new Expensive Car Supplement
Vauxhall dealers have cut prices on top-spec models to avoid the new Expensive Car Supplement.. The Grandland Ultimate now costs £37,730, with Vauxhall urging the government to reconsider the tax, which affects EVs over £40,000.
Wayne Griffiths resigns as CEO of Seat and Cupra in order to ‘pursue new challenges’
Seat and Cupra are searching for a new CEO after Wayne Griffiths stepped down on March 31 to pursue new challenges. Markus Haupt takes over in the interim, with a permanent successor yet to be named. Griffiths led Cupra’s rapid growth since 2020.
Jeep’s European boss calls for ‘political stability’ as he plots brand’s electrified future
Jeep’s European boss, Fabio Catone, has urged for greater political stability to support the brand’s EV transition. While Jeep currently offers only the Avenger as a full EV, it plans to expand its hybrid range based on customer demand and market conditions.
Man shot dead by armed police at railway station
A man who was reported to have been carrying a firearm at Milton Keynes railway station has been shot dead by police, Thames Valley Police said.
Officers from Thames Valley Police and British Transport Police were called to reports that a man was carrying a firearm at the station in Elder Gate, Milton Keynes on Tuesday at 12.55pm.
A force spokesman said: ‘Armed officers from Thames Valley Police responded and challenged the man, before shots were fired by police.’
UK factory slump deepens as cost worries grow
UK factory production slumped to a one-and-a-half year low last month with manufacturers ‘hunkering down’ as they brace for rising costs and global trade disruption, a new survey shows.
The S&P Global UK manufacturing PMI survey, watched closely by economists, showed a reading of 44.9 in March, down from 46.9 in February.
Any reading above 50 indicates that activity is growing while any score below means it is contracting. March’s score was the lowest since October 2023 with the downturn reaching all corners of the industry, although smaller manufacturers were the hardest hit.
Met Office issues amber wildfire warning for parts of UK
he Met Office has issued an amber wildfire warning for most of the UK, because of persistent warm weather.
The warning is in place for most of England, including London, Dover in Kent and Wiltshire and will extend into Northern Ireland and southern Scotland today.
It comes after a period of warm weather which will continue this week, with temperatures expected to peak at 22C on Friday.
