News for March 2010
Chinese car company acquires Volvo
Monday, 29 March 2010 by Sarah Howard
China is set to become the world's leading car manufacturer as its leading private automobile organisation is buying Swedish brand Volvo in a billion pound deal.
It is reported in The Telegraph that Chinese company Geely could pay owner Ford less than $1.8bn for Volvo, putting China in good stead to overtake car production giants the US and Germany. This ...
Record repair bill for crashed Pagani Zonda
Thursday, 25 March 2010 by Sarah Howard
One of the biggest stories to hit motoring news this week, is that of insurance company Aviva paying out an astonishing £300,000 - after a professional driver managed to crash a Pagani Zonda S supercar.
The car, worth in excess of half a million pounds, was completely totalled during a test drive near Aberdeen in September 2009. Metro reports that the ...
Low sterling value could benefit classic owners looking to sell a car for cash
Wednesday, 24 March 2010 by William Hobson
Classic owners who are interested in selling a car or two could benefit from the depressed value of sterling thanks to overseas car buyers, according to a report by EuroTax Glass.
The report says that the rising strength of the Euro against sterling means that the European market is offering a "good return" on classic cars bought before ...
BMW to challenge the Fiesta
Wednesday, 24 March 2010 by Sarah Howard
According to recent reports, German car manufacturer BMW is set to produce a front wheel drive supermini to rival the likes of the Ford Fiesta and VW Polo.
Auto Express comment that the new model is likely to be branded as the 0 series and will compete with high end, quality small cars such as the Audi A1. The new model was designed to fulfil the ...
Ferrari to open theme park in Abu Dhabi
Tuesday, 23 March 2010 by William Hobson
Supercar brand Ferrari has announced that it will open its first ever theme park in Abu Dhabi this year.
Planned to be the biggest indoor theme park in the world, Ferrari World is to be sited on Yas Island - next to the Yas Marina circuit, which is home to the Formula One Abu Dhabi Grand Prix. According to concept designs, the theme park will be covered by a massive canopy - coloured ...
Classic car buyers have already pushed private sales past $100m for 2010
Tuesday, 23 March 2010 by William Hobson
It must have been difficult for the Japanese owner of a classic 1963 250 GTO to say "sell my Ferrari" to RM auctions but the anonymous owner is apparently just one among many luxury owners who are choosing to sell a car for cash in 2010.
Business Week reports that in just two months, private sales ...
Mazda matte black special edition launched
Monday, 22 March 2010 by Sarah Howard
Associated with supercars, matte black is seen as the epitome of cool and is only used to decorate the most lavish of vehicles.
Well until now, as Mazda are set to launch a special edition of their signature Mazda MX-5 roadster to celebrate the iconic model's 20th birthday.
The new matte black edition has been designed in collaboration between ...
New contender for the Bugatti Veyron
Friday, 19 March 2010 by Sarah Howard
A new contender for the title of top supercar is soon to emerge on the market according to Top Gear.
With an astounding 1,200 bhp [draws breath], the Hennessey Venom GT is to debut at the Goodwood Festival of Speed in July. Spy shots have been circulating round the internet, but as yet, no-one outside the Hennessey crib has seen the real deal.
The 2,400 ...
Goodwood Festival of Speed sneak previews
Friday, 19 March 2010 by Sarah Howard
Car buyers and enthusiasts will be salivating over the prospect of this year's Goodwood Festival of Speed, as new formats and interesting line-ups are being slowly announced.
In 2010, Thursday is being added as an extra day to increase the length of the ever popular event to 4 days. Thursday's event is to take on a motor show ...
McLaren MP4-12C launched
Thursday, 18 March 2010 by Sarah Howard
Amidst a furore of suspense and glamour, the McLaren MP4-12C has been officially launched today, making it the envy of luxury car enthusiasts across the globe who may be heard to whisper ''I need to sell my Aston Martin and buy a new McLaren'' to keep up with other car fashionistas.
The car, to be ...
UK new car production rising
Thursday, 18 March 2010 by Sarah Howard
UK car production is on the rise according the the Society of Motor Manufacturers and Traders (SMMT).
For the fourth month in succession, it is reported in Reuters that car production in Britain rose by 62.7 per cent in February, compared to the same period last year.
This co-incides with an increased demand for new cars from consumers, who are making ...
Nissan boosting British car industry with the Leaf
Thursday, 18 March 2010 by Sarah Howard
Around 2,000 jobs in the North East were bolstered today, as it emerged that Japanese car manufacturer Nissan is to build a innovative electric car plant in Sunderland.
The five seater model, to be known as the Leaf, will be manufactured in Sunderland from 2013, after an influx of investment from Nissan, the Department of Business and the European Investment Bank. Total investment in ...
Porsche debt burden lessens
Wednesday, 17 March 2010 by Sarah Howard
German luxury car manufacturer Porsche is reported to have reduced its debt burden, achieving a double-digit operating margin in the first half of its financial year.
According to Reuters, Porsche's debts reduced from 11.4 billion Euros in November 2009, to 6.1 billion Euros at the end of January 2010. This rapid drop in debt has been attributed to a 3.9 billion Euros ...
Some used cars won't depreciate in value
Tuesday, 16 March 2010 by Tanisha Sakhawat
This year's predictions for the car market look good for those wanting to sell a car for cash, as the value of some second hand cars will go up considerably. While car depreciation is regarded as a near certainty, it is possible to buy a car, use it, and also see your investment rise.
If you are a serious car person, then the ...
New car registrations on the rise
Tuesday, 16 March 2010 by Sarah Howard
According to Marketwatch, new car registrations in the European Union are rising by up to 3 per cent, compared to last year's figures.
In February this year, registrations in Europe rose to 974,346, compared to around 945,000 during the same period in 2009, according to the European Automobile Manufacturers' Association.
Registrations were highest in ...
Scrappage scheme draws used car buyers to new models
Monday, 15 March 2010 by William Hobson
In 2009, if you wanted to sell your car for cash then you'd have had better luck with a cash for cars scheme rather than directly selling to used car buyers.
This is because in 2009, used car sales fell to their lowest point in nearly a decade, according to Experian, the global information services company. The company says that ...
Luxury cars found in Suffolk barn
Monday, 15 March 2010 by Sarah Howard
Seven luxury cars found covered in dust in a Suffolk barn, have fetched record high prices at auction.
The Maseratis, Bentleys, DeTomasos and a Jenson fetched an astounding amount of cash. For cars of such a luxury brand, figures of £160,000 were expected, but in actual fact, the cars achieved around the ...
Lamborghini sees decrease in profit
Friday, 12 March 2010 by Sarah Howard
Industry news from Car Magazine reports that luxury Italian automaker Lamborghini revealed pre tax losses of over £30m in the 2009 financial year.
The decline has been attributed to a general slump in the supercar market, due to the worldwide recession. Such a recession has led some Lamborghini owners to woefully proclaim ''I need to
Motor industry calls for Budget 2010 help
Friday, 12 March 2010 by Sarah Howard
The motor industry, in a bold message to the Chancellor Alistair Darling, has asked the government to provide support for the motoring industry in the upcoming 2010 Budget.
The Telegraph reports that the Society for Motor Manufacturers and Traders (SMMT) has requested the government provide a more substantial Annual Investment Allowance for businesses, to help ...
Saab to produce supermini?
Thursday, 11 March 2010 by Sarah Howard
Motoring publication Auto Express has revealed plans from Swedish car manufacturer Saab to produce a rival to BMW's mini.
In a move to excite car buyers, the publication has released pictures of how the supermini concept could look, as well as citing Saab's plans for a new sportscar, both ...
Start of the F1 season to boost motoring interest
Wednesday, 10 March 2010 by Sarah Howard
After months of speculation and excitement, the Formula One season is to get under way this weekend with the Bahrain Grand Prix.
Amongst the highlights, fans are awaiting the return of F1 supremo and seven time world champion winner Michael Schumacher, as well as the rivalry between new McLaren team-mates Jenson Button and Lewis Hamilton.
The most anticipated ...
Classic cars owners detailed
Wednesday, 10 March 2010 by Sarah Howard
Good personal taste and age are paramount to creating a classic car, according to classic motor enthusiasts.
Motoring writer Stuart Birch, comments in The Telegraph that now Spring is upon us , many classic car fans are dusting off their driving gloves, getting out their maps and awakening their sleeping beauties. The most popular time for enjoying the open road in a ...
Scrappage scheme reduces carbon emissions
Tuesday, 9 March 2010 by Sarah Howard
The Society of Motor Manufacturers and Traders (SMMT) have announced that the average carbon emissions of new cars were reduced by 5.4 per cent last year, as drivers were able to sell a car for cash off the purchase price of a new model.
Emissions were reported to have dropped dramatically due to the scrappage scheme, which ...
New hybrid Ferrari may be luxury option for green-minded car buyers
Tuesday, 9 March 2010 by William Hobson
This year's Geneva Motor Show has featured many advances in green motoring technology, but despite all of the electric cars on display, it was the new hybrid model from Ferrari that stood out.
The first look at what could soon be a luxury favourite for car buyers looking to cut back on their carbon without sacrificing their super ...
Shell CEO predicts more efficient cars will grow popular with car buyers
Tuesday, 9 March 2010 by William Hobson
The CEO of Royal Dutch Shell Plc expects electric cars will become more popular with car buyers in the near future.
Speaking at The Wall Street Journal's ECO:nomics conference in Santa Barbara, Peter Voser said that "Between now and 2050, we will go from 1 billion cars to 2 billion cars worldwide. We think that ...
Government to offer grants for sports car
Tuesday, 9 March 2010 by Sarah Howard
The Tesla high performance electric sports car is to attract a government subsidy of £5,000 for car buyers of the luxury make.
The Times reports that the government is to subsidise the purchase of the eco-friendly car, in a £230 million scheme to address environmental concerns.
Assembled ...
Selling a car is easier if its a Ford Fiesta, figures reveal
Tuesday, 9 March 2010 by William Hobson
The Ford Fiesta looks likely to a favourite model among cash-for-cars schemes over the next year, as sales figures reveal that the classic vehicle tops the UK's car sales.
Official sales figures from the Society of Motor Manufacturers and Traders (SMMT) show that selling a car is likely to be much easier if it's a Ford - and ...
Used car values high
Tuesday, 9 March 2010 by Sarah Howard
The economic downturn has been seen to hit the new car sales market, but it has been reported that in turn, used car buyers are finding themselves looking at higher prices for coveted models.
The Telegraph comments that there is a shortage of used cars - particularly those that are one to three years old. This is ...
Positive figures for Toyota
Tuesday, 9 March 2010 by Sarah Howard
After their recent recall and public relations crisis, Toyota will be pleased to know that its models held onto their share of the market in Scotland last month.
Figures released by the Scottish Motor Trades Association show that car registrations rose 32 per cent in the first two months of 2010. Such a rise was attributed to car ...
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