NEWS

BUSINESS secretary Lord Mandelson has revealed details of a £270m loan that will ‘help secure’ Vauxhall. The loan package to GME Europe is being made under the Government’s Automotive Assistance Programme. GME needs the money to secure longer-term investment. A recent guarantee of €1.9bn from GM has, Car Dealer Magazine, ensured the company has the [...]

MINISTERS are to allocate quotas to car makers for the final funds from the scrappage cash pot. Officials say rebates for less than 82,000 cars remains as the scheme enters its final weeks. The rationing will be based on brand popularity, said business secretary Lord Mandelson. This, he said, will ensure the scheme runs down [...]

LORD Mandelson has pronounced the first Automotive Council meeting last week to be a significant success. The UK car industry will strengthen its approach to future eco motoring as a consequence, he explained. As Car Dealer Magazine earlier reported, the Council is already having an effect, following the announcement of a £19 million competition. ‘This [...]

AUTOMOTIVE Council members have met for the first time to start strengthening industry-Government links. The inaugural meet kicked off with a big £19 million competition to boost UK low carbon vehicle projects. Lord Mandelson and Professor Richard Parry Jones are co-chairman of the Council, which aims to secure a UK car industry future. SMMT top [...]