News

Luxury car dealer HR Owen saw pre tax profits fall 53.3 per cent to £1.4m in 2008 on turnover down 8 per cent to £144m.

A scrappage scheme for the UK would have a "profound effect" on new car sales, Ford of Britain managing director Nigel Sharp said today.

Ford has blamed the falling international value of the pound for a 3.75 average price rise across its model range.

The management buy-out team trying to save van maker LDV remains hopeful it can strike a deal.

Mitsubishi Motors Corporation (MMC) is significantly reducing its European operations as the Japanese carmaker moves from being an SUV to passenger car led brand.

Inchcape is to raise £232m in a rights issue to shore up its balance sheet.

The SMMT today announced that the 2010 British International Motor Show to take place in London at Excel has been cancelled due to the downturn.

The HiQ fast fit chain is hoping to recruit franchised and independent dealers as part of its ambitious growth plans which it said would double its network and create up to 500 new jobs over the next three years.

International Motors today said the Daihatsu, Subaru and Isuzu franchises would come under centralised management.

SMC Renault has shut its Guildford dealership because of the economic downturn.