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Sports car hits hold in the road
Tony Fernandes, the Malaysian tycoon, is to announce an end to his joint venture with Renault, launched in 2012, attempting to produce a new British lightweight sports car, family sports cars and SUVs at Renault’s factory in Dieppe.
THE DAILY TELEGRAPH
Agility ready to rev up
A British engineering business, described as the Tesla of motorcycles, has secured investment from one of BMW’s most senior former executives. Jurgen Hedrich, who ran BMW’s Mini production in the UK, has led a funding round in Agility Global, which values the business at £13.5m and aims to accelerate sales of its electric motorbikes. The German-born engineer, who will also join the company as director of production, will oversee manufacturing of Agility’s flagship bike, the Saietta.
THE DAILY MIRROR
Road to ruin
A survey by Moneysupermarket.com has revealed that one in 10 Britons has driven their own car without insurance, and 3% had borrowed a car without having cover. Moneysupermarket motor insurance expert Kevin Pratt warned drivers: ‘Not only is it illegal but you could face six points on your licence and a fixed penalty fine.’
Drivers don’t like Mondays for accidents
Swiftcover.com says drivers are most likely to claim for crashes and accidents on Mondays, with a fifth of insurance claims being filed on this day. The insurer revealed motorists are also more likely to collide with bollards or lampposts and damage windscreens on the week’s first working day. Experts believe this is because commuters struggle to switch from weekend to work mode. In addition, multivehicle accidents are more likely to occur on a Friday, whilst claims for vandalism and theft increase at the weekend. Swiftcover’s Maxine Tighe commented: ‘Over the past year we have seen a trend developing between the type of claims and the day.’
THE FINANCIAL TIMES
Honda to scale back car production at Swindon – Falling demand in continental Europe has prompted Japanese carmaker Honda to cut production at its Swindon plant by three shifts to two, putting at risk 340 permanent roles. Some 160 temporary jobs that are due to expire this year will not be extended.
Inflation rate drops to lowest level in four years – A dip in petrol prices helped inflation fall to its lowest level in more than four years last month, according to official figures published yesterday. The news raises the prospect of a return to real wage growth. The fall of the headline rate of inflation to 1.7% comes after separate official figures last week showed pay growth picking up after years of falling real wages for many workers.
Engines won’t be problem anymore, claim Renault – Most of the engine problems suffered by Renault-powered cars at the season-opener in Australia have been resolved, the manufacturer said yesterday ahead of this weekend’s Malaysian Grand Prix. Renault supply world champions Red Bull, their sister team Toro Rosso, Lotus and Caterham with the new V6 turbocharged power units.