Author: Tom Seymour

Volkswagen Financial Services (VWFS) has confirmed it’s winding down its Heycar marketplace division. VWFS, which is Heycar’s majority shareholder, said that the technology and expertise developed by Heycar will likely be rolled right into a recent subsidiary in a “strategic move that underscores VWFS UK’s commitment to innovation and enhancing our technological capabilities”. A spokesperson for VWFS said: “Heycar has been a pioneer in the net used automotive marketplace and, despite the choice to wind down their operations, the worthwhile insights and digital solutions developed to this point will play a vital role in the longer term of VWFS UK, as…

Tesla sales dropped by 30% across Europe to 27,828 units in March, however the decline is beginning to slow, in keeping with latest data from JATO Dynamics. This was the most important decline among the many 30 most registered brands, surpassed only by Mitsubishi in thirty third position (down by 43%), Lancia in forty first position (down 73%), Jaguar ( down 82%), Smart (down 65%), Maserati (down 39%) and  Abarth ( down 75%).  Despite the negative trend, the 30% drop experienced in  March was less severe than those recorded in January ( a drop of 47%) and February (down 44%). Felipe Munoz, global analyst at JATO Dynamics, said: “As…

The increased supply of used electric and hybrid cars in Q1 has resulted in a ten% price drop year-on-year for the period, in response to AA Cars. The newest AA Cars Used Automotive Index shows the common cost of the highest 20 most looked for EVs and hybrids on AA Cars dropped from £20,956 to £18,973 over the past yr, with prices falling 6% because the final quarter of 2024. The Toyota Yaris (hybrid) – essentially the most looked for EV or hybrid – dropped in price by 14% over the past 12 months, while the Toyota Prius has seen…

Automotive executive search specialist Ennis & Co Group has launched an expanded interim talent service to fulfill a surge in demand by automotive and mobility brands for short-term placements at senior leadership level. The growing need for interim senior hires is being attributed to the rapid transformation going down across the industry, with businesses requiring experienced executives who can step in at short notice to guide restructuring efforts, oversee mergers and acquisitions, establish latest entrants out there and navigate periods of transition. Such is the pace of transformation, many businesses are choosing contract hires over everlasting appointments to avoid lengthy recruitment processes…

Nearly two-thirds (63%) of UK motorists haven’t any plans to purchase an electrical vehicle (EV), based on a brand new survey by insurers AXA UK.The survey of 1,501 UK motorists highlights the dimensions of the challenge facing dealerships as they give the impression of being to help more drivers to make the switch to EV where suitable.Of those with no plans to buy an EV, greater than a 3rd (37%) say concern over battery lifespan is one in every of the essential reasons. Nearly two-thirds (63%) of UK motorists haven’t any plans to purchase an electrical vehicle (EV), based on…

Political activists Led By Donkeys have used a Tesla to write down an enormous message on Black Rock Sands beach in Wales as a part of its campaign against Elon Musk and the US EV brand. The video has been viewed over 30,000 times since being posted on March 17 and has been picked up by mainstream media outlets. A decription for the video states: “Hundreds of individuals are ditching Tesla. Here’s certainly one of them with a message you possibly can see from space.” Professor Jim Saker, regular Automotive Management contributor and president of the Institute of the Motor…

Close Brothers Group has posted an operating loss before tax of £103 million for its half 12 months results. The figures have caused a 14% drop within the firm’s share price. Mike Morgan, Close Brothers chief executive, said the performance is one in all strength and resilience of the firm’s business model despite putting aside a provision of £165 million to ready the business for a possible redress scheme for purchasers if one is introduced by the Financial Conduct Authority (FCA). The FCA continues to be reviewing motor finance commission arrangements and a Supreme Court appeal process is pending firstly…

Used battery electric vehicle (BEV) prices could finally have bottomed out in accordance with the newest Indicata Market Watch used automotive pricing insights report. BEV prices have moved by just 0.8% between July 2024 and January 2025 which translates to only £160 on a typical £20,000 used automotive. This comes as sales of used BEVs accounted for a 5.9% share of the whole used market in January, which is a record for the reason that Indicata report was launched five years ago. The trend of stable prices and growing sales comes at an important time for the industry as stock…

Pinewood Technologies Group has began trading on the OTCQX Best Market which can open the door to US investment within the business. The brand new development falls in keeping with Pinewood’s plans to expand within the US after acquiring artificial intelligence (AI) specialist Seez. The investment in Seez is a component of Pinewood’s plans to expand into the US market, in partnership with Lithia Motors. Pinewood’s admission to the OTCQX market will provide trading for investors within the US, ensuring they’ve access to the identical level of knowledge and disclosure available to investors within the UK, but through US-facing platforms and portals. The corporate’s atypical shares…

The multi-million pound project to ascertain an electrical vehicle (EV) battery gigafactory at Bridgwater has taken one other step forward with work starting with National Grid. The EV battery production facility – run by Tata Group’s global battery business Agratas – is on account of open in 2026 and goals to produce almost half of the batteries needed by the UK’s automotive industry by the early 2030s.  National Grid has now began the engineering work to attach the UK’s biggest battery factory to the grid. National Grid Electricity Distribution (NGED) is constructing two interim 33kV connections which can power the Agratas…