Search    Tax & fuel calculator |
News in brief
publication date: Feb 4, 2009
|
author/source: Robin Roberts
Car production in Europe this year will fall to levels not seen since the early 1990s-with disastrous effects for suppliers, says CLEPA, the European suppliers' association. CEO Lars Holmqvist says many companies may go bankrupt in the first half of this year, already weakened by years of cost-down pressures from carmakers and struggling with higher raw material and energy costs. Volvo Car Corp.'s €1.15 billion pretax loss for 2008 further complicates Ford Motor Co.'s attempts to sell the Swedish brand, says Automotive News Europe. The newspaper notes that the loss reduces Ford's hope of raising between €4 billion and €8 billion by selling the unit. Volvo lost €574 million in the fourth quarter as revenue plunged 38% to €2.5 billion. Vauxhall is offering new car buyers a fresh and innovative solution to both these woes with its new ‘You Pay, We Pay' deal, giving customers a wholesome five per cent cashback on new models purchased with its zero per cent finance. ‘You Pay, We Pay' means that buyers of most new Astras, Zafiras, Merivas and Tigras can walk into their nearest Vauxhall dealership, choose either a two, three or four-year nought per cent interest package through GMAC and receive a big fat cheque equivalent to five per cent of the sum financed when they take delivery of their new car. Ford and Vauxhall have increased prices by close to 5pc to offset losses due to the plunging sterling. They import most of their cars from Europe but have seen the exchange rate plunge and paid out more pounds than six months ago. BMW Group's design head Chris Bangle is quitting. "He will pursue his own design-related endeavors beyond the auto industry," the German carmaker said yesterday. Adrian van Hooydonk, head of design for BMW brand, will succeed Bangle. Tip-Ex, the specialist tipper and bulk transport show, has been cancelled for 2009 "due to worsening economic conditions". The news follows the cancellation of the CV Show and the TERTS show in Amsterdam. Tip-Ex was to have taken place in Harrogate, and for the past couple of years had been a viable successor to the previous exhibition at the same venue, TipCon. |
     Welsh travel servicesVisit
celticocean.co.uk  |
.gif){kind=small}