Urban Mobility
PSA Group lifted prices of its Peugeot, Citroen and DS vehicles by an average of 2 percent make up for part of the pound’s 10 percent drop against the euro and its 13 percent fall versus the dollar since the June 23 Brexit referendum. British consumers are starting to bear the costs of Brexit, with companies raising prices of everything from
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Motortrader.com reports the average UK motor retailer produced a profit of just over £42,000 in June, the same as last year on increased turnover. Dealers generated a return on sales of 1.21% compared to 1.33% in June last year, according to figures from dealer profitability specialist ASE. “With profit on a par and turnover up, as a result of increased
Read moreJaguar Land Rover will go forward with plans to construct a new plant in Nitra, Slovakia, despite the Brexit vote that will result in the U.K. leaving the European Union. “I can say that we took (a possible) Brexit into consideration when we were considering the investment in Slovakia,” Alexander Wortberg, JLR’s operations director for the Slovak project, tells a
Read moreBrexit will cast a cloud over BMW second-quarter results when it reports on August 2. While the group is expected to report a 2% rise in second-quarter pre-tax profits to €2.63 from €2.55 the previous year and a rise in revenues to €24.55 billion from €23.93 billion, the estimates for the company going forward aren’t as great. Analysts at Deutsche
Read moreInspired by Brexit, MEP Antanas Guoga (Tony G) has signalled the launch of a campaign which seeks to position Vilnius (Lithuania) as the perfect location for UK businesses now looking into the possibility of relocation options. This time, the focus of his attention is the automotive industry, which is anticipated to be one of the sectors most severely impacted by
Read moreMalaysia’s central bank, seeing more clouds over the global economy after Britain’s Brexit vote, surprised markets by cutting its key interest rate for the first time in seven years in a bid to keep the country on a “steady growth path”. Bank Negara Malaysia (BNM) today cut the overnight policy rate (OPR), steady since July 2014, by 25 basis points
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