6:50 am, November 5, 2024
Beijing files complaint at WTO over EU tariffs on Chinese electric vehicles
China has moved forward with a complaint at the World Trade Organisation that alleges the European Union has improperly set anti-subsidy tariffs on new Chinese-made electric vehicles.
The Chinese diplomatic mission to the WTO said on Monday it ‘strongly opposes’ the measures and insisted its move was designed to protect the EV industry and support a global transition toward greener technologies.
The European bloc announced last month it was imposing import duties of up to 35% on electric vehicles from China, alleging the Chinese exports were unfairly undercutting EU industry prices.
Suzuki unveils its first EV with the e Vitara SUV
Suzuki has taken the covers off its first electric vehicle with the new e Vitara SUV.
This new model is 100mm longer and has a 200mm longer wheelbase than the outgoing combustion-engined Vitara, allowing for more passenger room inside.
The e Vitara will be built at Suzuki’s manufacturing plant in Gujarat, India, and sold in various global markets.
Sir James Dyson says Labour ‘killing off family businesses’ with inheritance tax
Billionaire inventor Sir James Dyson has taken a swipe at the Government for ‘eviscerating’ UK family businesses with the inheritance tax measures announced in last week’s Budget.
The businessman warned that small firms and start-ups will ‘suffer’, while private equity and public companies escape the taxation.
Chancellor Rachel Reeves used her first Budget to make changes to inheritance tax, including reducing reliefs for agricultural and business property from April 2026 in a bid to raise more funds for the public sector.
University tuition fees to rise to £9,535 in England next year
Tuition fees in England will rise to more than £9,500 next year to ‘secure the future of higher education’, the Education Secretary said.
Bridget Phillipson said increasing the £9,250 maximum tuition fees for domestic students to £9,535 next year had ‘not been an easy decision’.
University tuition fees will rise for the first time in eight years to help universities facing ‘severe financial challenges’, the Education Secretary said.
Monday on Car Dealer
Jaguar stops selling new cars in the UK as brand readies rebirth in 2026
Jaguar has stopped UK sales of its current-generation models as it prepares for a luxury relaunch in 2026 with new electric vehicles on its JEA EV platform. Production for models like the XE, XF, F-Type, E-Pace, and I-Pace has ended or will end by December 2024. Jaguar aims to reposition itself with exclusive boutique stores in major cities and new premium models, while existing customers can still service their vehicles at JLR dealerships.
UK market is worst in Europe for government incentives – Polestar boss
Polestar UK’s managing director, Matt Galvin, has criticised the UK government for insufficient EV incentives, labelling it ‘the worst supported’ EV market in Europe. He calls for measures like VAT reductions on new EVs and public charging, stressing the need to overcome ‘charging anxiety’ rather than range concerns. Galvin also highlights Polestar’s expansion plans, aiming to double UK retail sites to improve consumer experience. The Department for Transport, in response, reaffirmed its commitment to aiding the EV transition by 2030.
Historic Mercedes dealership closed by Stratstone after more than 70 years of selling cars
Stratstone has permanently closed its Mercedes-Benz dealership in Bradford, West Yorkshire, ending over 70 years of operation as the company restructures under new ownership by Lithia Motors. Acquired in a £397 million purchase of Pendragon’s UK retail assets, Lithia has implemented various changes, including eliminating 250 jobs by closing the CarShop brand in April. The Bradford dealership, which opened in 1953, notified customers via email of its closure, providing information on car finance and servicing options.
Nissan dealer supplies Townstar electric van to local meals on wheels service
County Tyrone’s Pat Kirk Nissan dealership has teamed up with Strabane and District Caring Services (SDCS) to support environmentally-friendly food deliveries with an electric Townstar van. Enabled by a National Lottery Community Fund grant, this fully electric van will serve SDCS’s new meals-on-wheels program for vulnerable locals. Chris McDaid of SDCS expressed enthusiasm about the vehicle’s range and low running costs, noting the excellent service from Pat Kirk Nissan, especially sales manager James McDermott, who helped tailor the vehicle choice to meet their operational needs.
Cap HPI combines vehicle data and valuations teams under new senior director
Cap HPI is restructuring by merging its vehicle data and valuations teams under senior data director Stacey Ward, aiming for improved operational flexibility and customer responsiveness. Ward, who has held various roles within parent company Solera, will lead the newly combined teams. Chris Plumb will take over the car valuations team as Derren Martin departs, while Dylan Setterfield continues as head of forecast strategy and Dionne Hanlon steps up to manage commercial vehicles and motorcycles.
Lloyd Motor Group continues expansion in north with Stratstone Tyneside BMW and Mini buy-out
Lloyd Motor Group has acquired the Stratstone Tyneside BMW and Mini dealership, expanding its presence in the north of England. The site, now called Lloyd North Tyneside BMW and Mini, is based near Newcastle’s Silverlink Shopping Park. The family-owned company, which already operates BMW, Mini, and body shop facilities in Newcastle, plans to hire 18 new staff for various roles. This purchase caps a year of growth for Lloyd, which recently launched Lloyd Select Newcastle for used cars.
Jenrick accepts role of shadow justice secretary in rival Badenoch’s top team
Robert Jenrick has accepted the role of shadow justice secretary in his former leadership rival Kemi Badenoch’s senior team, the PA news agency understands.
The new Tory leader has also chosen Dame Priti Patel as her shadow foreign secretary and Mel Stride as her shadow chancellor. All three ran as candidates against Ms Badenoch in the race to succeed Rishi Sunak.
The appointments to the opposition frontbench are an effort to unite different factions of the Conservative Party after a long internal election battle, it is understood.
HSBC UK issues gold scam warning to nearly two million customers
A major bank is warning people to watch out for an impersonation scam involving buying gold and handing it over to criminals for ‘safekeeping’.
HSBC UK said it will be contacting some customers to highlight a ‘worrying trend’ where scammers are targeting older customers.
Fraudsters are asking people for help with fake police investigations which lead to the customer withdrawing cash, buying gold and handing it over to criminals under the pretence that it is for safekeeping and will be returned.
The markets
The FTSE 100 finished higher after a largely cautious trading session, with uncertainty over the US election casting a shadow on global trading.
The British index finished 7.09 points, or 0.09%, higher to end the day at 8,184.24.
Elsewhere in Europe, the other main markets were slightly lower as major multinationals were impacted by stronger currency rates against the weak dollar. The Cac 40 ended 0.5% lower for the day and the Dax index was down 0.47%.
Weather outlook…
Today is expected to be cool and generally stable, with widespread cloud cover and moderate winds across much of the country.
Temperatures will be seasonally cool, hovering around 10°C to 12°C, and there is a low chance of precipitation.
Winds will vary but are anticipated to be relatively light across most areas.
