Reeves back at Cabinet meeting amid market turmoil

Rachel Reeves is expected at Downing Street for a Cabinet meeting on Tuesday as she continues to face pressure amid market turmoil.

It comes after Sir Keir Starmer appeared to waver in his support for the chancellor when he said he had confidence in her but refused to say she would keep her role until the next general election.

Downing Street clarified hours later that Reeves would stay in post for ‘the whole of this Parliament’.

Amazon announces biggest ever order of electric heavy goods vehicles

Online giant Amazon is expanding zero-exhaust emission deliveries in the UK, with its biggest ever order of electric heavy goods vehicles.

Over the next 18 months, it will take delivery of more than 140 new electric Mercedes-Benz Truck eActros 600 trucks and eight Volvo FM Battery Electric trucks.

The company also announced the launch of on-foot customer deliveries for the first time, with trolleys that can be restocked while on-the-go.

The new Skoda Enyaq will start at £39,000

Skoda has revealed prices and specifications for its refreshed Enyaq electric SUV.

The range kicks off at £39,000 for the entry-level SE L with the smaller ‘60’ powertrain which features a 63kWh battery pack and electric motor. This model replaces the old ‘50’ variant and comes with equipment such as LED front and rear tail lights, heated front and rear seats and steering wheel.

Models badged ’85’, with their 77kWh battery packs, start with the Edition for £44,300, and prices top out at £48,750 for the SportLine 85x with its due motors. The coupe version is available in Edition and SportLine trims and carries a £1,900 premium over the SUV body style.

The markets

The FTSE 100 fell on Monday amid continued market jitters over rising public borrowing costs, and as expectations for further interest rate cuts by the Federal Reserve were slashed. The FTSE 100 index dropped 24.3 points to finish the day at 8,224.19, or 0.29% down.

In Europe, France’s Cac 40 closed 0.30% lower, and in Frankfurt the Dax was down 0.41%. On Wall Street, the S&P 500 had dropped about 0.39%, and the Dow Jones was up 0.38%.

The pound was down 0.29% against the US dollar, continuing last week’s falls, at 1.217 on Monday. Sterling was also down about 0.02% against the euro at 1.191.

Kemi Badenoch blames ‘peasants’ from ‘sub-communities’ for grooming gangs abuse

Kemi Badenoch has blamed ‘peasants’ from ‘sub-communities’ within foreign countries for the grooming gangs crisis.

The Conservative also told GB News hearing victims’ accounts were ‘quite shocking’ as she reaffirmed calls for a national inquiry into the scandal.

The Tory leader has repeatedly clashed with prime minister Sir Keir Starmer over calls for a national inquiry. The government has previously knocked back calls for a national review in favour of locally-led inquiries, saying it is focused on implementing recommendations from Professor Alexis Jay’s 2022 report on the issue.

Significant progress made in Israel-Hamas ceasefire talks

US and Arab mediators have made significant progress towards brokering a ceasefire in the Israel-Hamas war and the release of scores of hostages held in the Gaza Strip, but a deal has not been reached yet, officials said.

Four officials acknowledged progress has been made and said the coming days would be critical for ending more than 15 months of fighting that has destabilised the Middle East.

They spoke on condition of anonymity because they were not authorised to discuss the talks. A US official briefed on the negotiations said all sides are ‘closer than we’ve ever been, but it could still fall apart’.

Monday on Car Dealer

Marshall and Cinch to fall under new Constellation banner as boss Martin Casha calls it a day

Marshall Motor Group CEO Martin Casha will retire in March 2025, with former Mercedes boss Gary Savage taking over as CEO and James Mullins as CFO. Constellation will create a new retail division managing Cinch and Marshall under one group.

Video: Can we buy anything with Mike Brewer’s help at new car auction?

Wheeler Dealer star Mike Brewer gives us some advice on what to do as we head to G3’s new car auction site at Bedford for its inaugural sale. Watch how we got on in a special sponsored video.

Hedin Automotive blames agency sales and UK recession for £7.6m pre-tax loss

Hedin Automotive reported a £7.6m pre-tax loss for 2023, attributing it to Mercedes-Benz’s agency sales model, UK recession, and operational challenges. Despite setbacks, CEO Anders Hedin remains optimistic about profitability by late 2024 after a cost review.

Mercedes reports drop in global sales for 2024 but bosses insist year was a success

Mercedes-Benz global sales dropped 4% in 2024 to 2.39m units, impacted by weak demand in China and Germany. While high-end and entry-level sales declined, core models rose 6%. North America showed growth, but BEV sales fell 23%, raising concerns.

Podcast: ‘I never ever use data’: Why gut feel remains key in the high-octane world of selling supercars

Alexanders Prestige boss Andrew North joins us on the latest episode of the Car Dealer Podcast. We discuss why ‘gut feel’ is still king when it comes to buying luxury vehicles.

Ford Fiesta was the used car most listed in Carwow auctions last year

The Ford Fiesta remained Carwow’s most listed auction car in 2024, with 2016 models increasing by 70%. The 2016 Volkswagen Golf ranked second, while the Volvo XC40 topped consumer views, followed by the Kia Sportage and Tesla Model 3.

Weather

A dry and mild day for much of the UK today, reports BBC Weather. The far south of England will see long spells of wintry sunshine, as will the north-east of England and Scotland. Highs of 11 degrees.

It’ll start dry and cloud tonight for nearly all areas, but dense fog will form for many in the early hours.

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