UK chancellor of the exchequer Philip Hammond’s spring Budget contained the Office for Budget Responsibility (OBR) upgraded growth forecasts for 2017, while predicting lower – but rising – figures for the years following the assumed activation of Article 50 as the country leaves the European Union. The government also confirmed an extra £690 million will be added to the £1.3 billion announced in autumn to improve transport networks in urban areas. In other transport news, the freeze on fuel duty has been retained.
Analysts from Glass’s vehicle pricing guide have applauded the simplification of road tax announced in the recent budget and appeared supportive of measures to effective reward newer, lower CO2 vehicles. However, they also said that older vehicles are undertaxed:
On 30 of April, well known Car Supermarket Carcraft has called in the administrators. A sale process had been going on since February 2015, but no buyer could be found. Carcraft has therefore ceased trading and all 500 employees have been made redundant.
Headquartered in Rochdale, Carcraft is the UK’s seventh largest second hand dealership chain with an annual turnover of £120 million, 500+ employees across 10 sites nationwide. The group sells over 12,000 used vehicles per annum at an average price of £9,000 per vehicle.
Football magnates such as Arsenal’s second-largest shareholder Alisher Usmanov and Chelsea’s Roman Abramovich may have lost nearly losing $809 million (£516 million) $450 million (£287 million) already with the collapse of the rouble, but Pirelli’s Marco Tronchetti Provera remains optimistic about the tyre maker’s chances in Russia.
Figures from the Motor Cycle Industry Association reveal that sales were buoyant in March. “It is extremely positive to see that the motorcycle market was up by an impressive 18.2 per cent last month following February’s -3.6 per cent decline”, said Stephen Latham, Head of the National Motorcycle Dealers Association (NMDA) which represents motorcycle retailers across the UK.
Earlier this month, Nexen Tire responded to speculation that it had selected the Czech Republic as the site for its new European tyre factory by stating that these were merely false rumours. Now it seems Poland’s Deputy Prime Minister and Economy Minister Janusz Piechociński has indicated his country is top contender. On 14 March, the Warsaw Business Journal published a comment Piechociński reportedly recently made: “Soon there will one of Europe’s largest tyre factories in Lower Silesia.”
Autoparts UK has produced a new Ultratec oil selection poster to assist garages and motorists with selecting the correct oil for a specific vehicle.
The use of incorrect engine oil can lead to problems and result in expensive repairs. Also, car manufacturers have clearly defined oil drain intervals for oils which meet their specifications and the use of a lower quality lubricant in, for example, a long oil drain schedule can result in reduced engine component life and poor fuel economy.
Just after the summer of 2013 PanAridus reported that it had broke an industry milestone, becoming the first bio-agricultural company to produce sufficient quality and quantity of guayule rubber samples in-house for commercial testing and use.
Over 9,500 construction jobs will be supported in 2014 by more than £1.9 billion of investment in Britain’s roads, said Transport Minister Robert Goodwill announced.
The total investment in 209 schemes is £4.3 billion, £1.9 billion of which will be spent in 2014 alone – more than twice the amount spent in 2013.
A new house brand has been added to Tire Group International’s portfolio. Called Duramas, the passenger car radial range is intended to offer economy while providing optimum tread life for a tyre in its class, and is initially available in six sizes.
Both Apollo Tyres and JK Tyre & Industries intend to establish new plants in Asia, and the chairman of the Indonesian Tire Producers Association says both firms are looking at his country as a potential site. Aziz Pane told Indonesia’s Investor Daily “the two investors from India are interested in coming here.” He added that each tyre maker would have to invest between US$300 million and $350 million in order to achieve a suitable economy of scale. He also opined that in order not to operate at a loss, the factories will have to be operated on a three-shift day system.
Speaking about the fall in sales of motorcycles in August, Sue Robinson, Director of the National Motorcycle Dealers Association (NMDA) which represents motorcycle retailers across the UK, said: "As the summer months are usually prime time for motorcycle sales it is extremely disappointing to see registrations decline in August".
The Association of Natural Rubber Producing Countries (ANRPC) is organising the sixth edition of its Annual Rubber Conference in Colombo, Sri Lanka on 8th October 2013. The Sri Lankan Government will be hosting the event, in association with the Ministry of Plantation Industries, Colombo, Sri Lanka, at the Galadari Hotel – Colombo.
In the UK, August is traditionally a slow month for sales of new cars, as people hold on for the change of registration plate which happens in September, with only around three per cent of sales during the month. September, by contrast, typically accounts for over 17 per cent of full year registrations.
New light commercial vehicle figures show overall sales were down 0.6 per cent in July but up 6.5 per cent year-to-date. Van sales dipped 2.6 per cent last month but remained 9.3 per cent ahead year-to-date. "It is positive to see that the commercial vehicle market remained stable during July, with a healthy increase in the truck sector of 10.3 per cent" said Sue Robinson, Director of the NFDA, commenting on the SMMT's van and truck registration figures.