Automotive News – Late May 2021

Aston Martin’s turnaround is gathering pace as the car maker’s new owners see early signs of progress.

Revenues were up 153% to £224.4m in the first quarter of the year, with pre-tax losses narrowly significantly, from £110m to £42m.

Executive chairman Lawrence Stroll, who took over last year, said: “I am delighted with the great progress we are making as demonstrated by the results we are reporting today which mark the first steps towards achieving our medium-term targets

Jaguar Land Rover’s pre-tax profits improved in the first three months of this year as the luxury car maker made a strong finish to its financial year.

JLR made £534 million, with the profit figure for the full 2020-21 year at £662m from revenue of £19.7 billion, before exceptional charges.

In February the company, which has its engine manufacturing centre employing more than 1,000 at the i54 north of Wolverhampton, announced its new Reimagine strategy to deliver double-digit profit margins by 2025-2026.

British HGV market up 9.5% after a year of pandemic-led decline.

10,064 trucks registered in the first three months of the year, up 9.5% on weak Q1 2020.

Growth driven by increased demand for articulated trucks, up 25.3% to 4,528 units.

Tractor and tipper registrations up 26.6% and 10.8% respectively, while all other segments still stuck in decline amid yearlong lockdown measures affecting business.

Nissan’s Sunderland EV and hybrid car factory secures £80m boost.

Backing for electric car production plant comes from UK savings and retirements investor Phoenix Group.

The UK’s fledgling electric vehicle (EV) manufacturing base has been given a major boost, after Nissan secured £80m from UK savings and retirements investor Phoenix Group to support its Sunderland battery car production operations.

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