The transaction enabled the group managing director, Ian Buxton, acquire 100% of the business. In addition to meeting the share purchase consideration to affect the buyout, the £5.5m facility will also provide significant additional working capital for further planned growth. The comprehensive funding facility comprises a confidential invoice discounting line, a property term loan and […]
As the world re-emerges from the pandemic, Britain’s export-led automotive industry is the country’s competitive advantage for driving growth, creating jobs and tackling climate change. In 2020, vehicle export revenues reached £27bn despite disrupted trade flows and shuttered markets across the globe, making vehicles built here more valuable to the UK than both power-generating machinery […]
New data released by Time Finance reveals a huge steer in direction from British business, with a dramatic increase in demand for electric vehicles up 241% from last year. The findings follow that from the Society of Motor Manufacturers and Traders (SMMT) which announced that nearly 33,000 pure electric cars were registered in September – […]
The Society of Motor Manufacturers and Traders (SMMT) has called on government to put the automotive sector at the heart of future trade negotiations, after publishing a new report today confirming vehicles as the UK’s single most valuable goods trade export. Vehicle export revenues reached £27bn in 2020, making them more valuable to the UK […]
Blue Motor Finance (Blue) announces its latest partnership with digital payment provider, Banked. Banked provides a new payment method offering customers a fast and secure way to pay directly using their online banking app. It can be simply and seamlessly integrated with existing payment capabilities for companies to improve customer payment experience and cost effectiveness […]
UK Truck Group is a Hertfordshire-based, family-run group of businesses that specialise in supplying commercial vehicle parts as well as the repair and maintenance of trucks. Santander UK is supporting the group’s growth plans with a £5m funding package. The funding is tailored to the group’s unique needs and includes invoice finance and a commercial […]
September was a desperately disappointing month for the sector with registrations of new cars and vans decreasing by -34.4% and -39.5% respectively. Despite strong demand for new vehicles over recent months, these markets have been stalled by the reduced global availability of semiconductors. This is not just a UK issue, with September registrations in Germany, […]
The UK new car market has recorded its weakest September since 1998 ahead of the introduction of the two-plate system in 1999, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). Some 215,312 cars were registered in the month, a -34.4% fall on September 2020, when pandemic restrictions were significantly […]
UK commercial vehicle (CV) production dropped to 3,179 units in August, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). After five consecutive months of growth, production decreased by -35.1% compared to the same month in 2020, as production lines were impacted by semi-conductor shortages and variations in summer […]
UK car production fell -27.0% in August, the second consecutive month of decline, with 37,246 cars manufactured, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). Output was affected by the continuing global shortage of semiconductors leading to production stoppages, as well as the timing and length of some manufacturers’ summer factory shutdowns. Despite the challenges, production of […]
