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Newspaper updateBack

FTThe Financial Times

Car sales climb shows signs of stalling The car sales boom is starting to splutter as years of credit-fuelled spending catch up with a saturated market and ingenious financing schemes that propped up the market begin to leave drivers out of pocket. The UK market has enjoyed 29 months of consecutive growth.

Toyota latest to be hit by anti-monopoly investigation Toyota has been added to the list of carmakers including Audi and Mercedes that are facing ‘unspecified anti-competition allegations’ in China. A Toyota spokesman said it was ‘co-operating fully with the queries from the authorities’.

Car sales in India pick up pace The Society of Indian Automobile Manufacturers released data showing rising car sales for the third consecutive month. SIAM’s deputy director said the Indian market was likely to expand five to ten per cent this financial year.

Self-employment set to rival southern Europe

Britain is becoming the self-employment capital of western Europe, according to a report that underlines how much the financial crisis has reshaped the country’s labour market.

BoE inflation report pushes bets on rate rise back to 2015
The Bank of England has halved its forecast for how much wages will grow this year, leaving financial markets betting that the first increase in benchmark UK interest rates will not come until next year and adding to the political debate over living standards.

The Times

Fall in young drivers down to insurance premiums – The amount of teenage motorists on the road is decreasing due to prohibitive ownership costs. According to Department for Transport figures, 43 per cent of 17-20 year-olds held a full driving licence in 1995; in 2013 the figure was down to just 31 per cent. The article notes that for most drivers, the largest barrier to car ownership is insurance, and gives the example of an 18-year-old male nurse, who lives in Hornchurch, Greater London, and drives a 1.6 litre Ford Focus, who would pay, according to Endsleigh Insurance, £3,240 after passing his test.

Jaguar learns from driver – Jaguar Land Rover is developing a ‘self-learning’ car that will adapt to an individual’s driving style. The car will utilise collected data to apply personalised acceleration, steering, and braking settings to the vehicle.

Jaguar hits top gear as boom in eastern markets drives up profits
Selling high-margin, expensive vehicles into new markets like Chine, where customers are prepared to pay more for premium cars than in the west, has sent Jaguar Land Rover into overdrive with profits coming in at a staggering £10 million a day.

The Independent

Ford to release hybrid without price premium The new Ford Mondeo hybrid which unlike many other hybrid cars, will not have a high price premium attached. Ford says its green models will cost about the same as its diesel models. The hybrid models look set to ‘give off CO2 emissions of less than 100g/km and have a fuel economy of about 70mpg’.

The Daily Telegraph

Unemployment hits low as youth jobless rate falls

The unemployment rate has fallen to a level not seen in more than five years, dropping 0.1 percentage point to 6.4pc, according to official figures… Driving the decline was a big fall in the number of young people out of work, down 102,000 compared with the previous three months and taking the total of 16 – 24 year olds who are not in work to 767,000.

40,000 US Land Rovers recalled over airbag fears

More than 40,000 Land Rovers have been recalled in the US after manufacturers discovered a potential fault with the four-by-four’s front passenger airbag. Jaguar Land Rover (JLR) is believed to have found a technical failure in models dating back to 2010 that could prevent the airbag from deploying after a collision.

 

Posted by Sue Robinson on 15/08/2014