6:50 am, December 13, 2024
Consumer confidence remains suppressed amid ‘uncharitable view’ of economy
Consumer confidence remained suppressed in December amid the ‘continuing uncharitable view on the UK’s general economic situation’, a survey suggests.
GfK’s long-running Consumer Confidence Index increased by one point to minus 17 in December as forecasts for personal finances moved into positive figures at one – three points higher than this time last year.
However expectations for the general economy over the next 12 months remained unchanged at minus 26 – one point worse than last December – suggesting ‘people don’t know where we are going’, GfK said.
ECB cuts rates amid concerns of tepid growth and impact of Trump trade policies
The European Central Bank has cut rates by a quarter of percentage point amid signs of weakening growth and concern about the impact of political chaos in France and the possibility of new US import tariffs.
The bank’s rate-setting committee made the decision on Thursday at its skyscraper headquarters in Frankfurt to lower the benchmark from 3.25% to 3%.
The bank said that efforts to return inflation to its 2% target were succeeding.
Toyota’s Urban Cruiser returns as compact electric SUV
Toyota has unveiled a new Urban Cruiser, reviving a name which was first used in the early 2000s.
The new car, sister to the recently revealed Suzuki e Vitara, will come in 49kWh and 142bhp and 61kWH and 181bhp combos, plus a four-wheel drive variant using the higher output battery and motor. No range figures have been revealed yet.
Toyota has prioritised space and tech with new Urban Cruiser as it features a roomy interior, plus a 10.1-inch touchscreen and 10.25-inch driver’s display. Prices will be revealed later.
The markets
European stock markets flatlined on Thursday as investors took stock of Europe’s central bank cutting interest rates for the fourth time this year after reducing its growth projections.
The UK’s FTSE 100 gained 10.14 points, or 0.12%, to close at 8,311.76. In Frankfurt, the Dax moved 0.05% higher, and in Paris, the Cac 40 was down 0.03%. In New York, the S&P 500 was down about 0.3% , and Dow Jones was down 0.2% by the time European markets closed.
The pound weakened against the euro following the ECB’s rate cut. Sterling was down about 0.5% against the currency, at 1.209. The pound was also down about 0.3% against the US dollar, at 1.271.
Europe ‘will spend more’ on defence, Nato head suggests
Europe ‘will spend more’ on defence, the head of Nato has suggested, after he warned that ‘it is time to shift to a wartime mindset’.
Mark Rutte, the organisation’s secretary general, told the BBC that US president-elect Donald Trump was ‘right’ that there should be more spending on defence.
Trump has been critical in the past of European nations relying on US military protection while not spending enough on their own defence.
Only 15% of public EV chargepoints are in rural areas – report
Just 15% of public electric vehicle (EV) chargepoints in England are in rural areas, according to a new report by the public spending watchdog.
The National Audit Office (NAO) urged ministers to put ‘greater focus’ on ensuring more electric vehicle (EV) chargepoints are installed in rural locations and regions outside the South East.
It said chargepoint installation to date – which has largely been privately funded – has been led by the needs of early adopters of EVs, resulting in around 44% of UK chargepoints being located in London and the south east.
Thursday on Car Dealer
Jury finds that Big Motoring World sales executive DID kill colleague in horror 100mph crash with lorry
A jury ruled that Ivan Zailac caused the death of his colleague, Stephanie Nye-Diroyan, by dangerous driving. His BMW, driven at 98mph on a 40mph road, collided with a lorry, leading to Nye-Diroyan’s death. Sentencing is pending.
Daksh Gupta and Rachel Clift on how to cope with stress in the motor trade
Daksh Gupta and Rachel Clift will discuss managing stress in the motor trade at Car Dealer Live 2025, held at the British Motor Museum. The event features industry leaders, exclusive research sessions, and supports automotive charity Ben.
London and south east faced biggest used car price drops in November
Used car prices fell in November, with London seeing the biggest drop (4.3%), followed by the south east (1.7%). In contrast, Scotland and the north east saw increases. Dealers are urged to monitor regional trends for competitive pricing.
Video: Finding the motivation to run a used car dealership can be very hard when it goes quiet
In his latest Clever Car Collection video diary, James Baggott has been trying to keep homself motivated.
Automotive 30% Club gets within touching distance of ambitous ’30 by 30′ target
The Automotive 30% Club is nearing its ’30 by 30′ goal, with 28% of leadership roles now held by women and 40% of member companies meeting the target. Challenges remain at board level, but progress is strong.
‘A cock-shy of opportunistic claims’: Lender admits ‘burden’ of recent commissions crisis
S&U, a car finance provider, reported disrupted trading due to regulatory uncertainty and a Court of Appeal ruling on commission payments. The chaos caused opportunistic claims and a 33% drop in advances, though property finance performance offered some relief.
International Motors boss calls for ‘environmental tax’ on ICE vehicles to drive EV demand
IM boss William Brown has proposed an environmental tax on ICE vehicles to boost EV demand, reinvest in EV infrastructure, and amend the ZEV mandate. Despite criticism from SMMT and industry leaders, he cites Norway’s incentives as a successful model.
Weather
A dull and cloudy day for most of the UK today with spots of rain, reports BBC Weather. Temperatures will range between six and eight degrees.
Showers will push southwards tonight leaving clear spells. For the weekend, Saturday will be dry and sunny for most with it being the chillier of the two days as Sunday will see an area of high pressure pushing in, bringing cloud and rain.
