Latest news with #UKcars
Bloomberg
30-06-2025
- Automotive
- Bloomberg
Lower UK-US Car Tariffs Take Effect, Without Progress on Steel
UK car manufacturers can export to the US under a 10% tariff starting Monday, a reduction from the 25% rate imposed by Donald Trump on other countries, as the first elements of an economic agreement between the US president and Prime Minister Keir Starmer come into effect. British aerospace companies like Rolls Royce Holdings Plc also saw 10% tariffs on goods including engines and aircraft parts slashed to zero as of 5:01 a.m. London time. However, there still remained no sign of progress toward lowering levies on the UK's beleaguered steel industry, which remain at 25% despite Britain previously announcing an agreement to reduce them to zero.
Yahoo
27-06-2025
- Automotive
- Yahoo
Car production fell for fifth consecutive month in May
The number of new cars and commercial vehicles built in the UK fell for the fifth consecutive month in May, figures show. Production was down by a third compared to the same time a year ago, said the Society of Motor Manufacturers and Traders (SMMT). Excluding 2020, when Covid lockdowns saw factories shuttered or running at greatly reduced capacity, it was the lowest performance for the month since 1949. In the year to date, production is down by almost 13% on 2024, to 348,226, the lowest since 1953. The SMMT said the reduction was mainly due to ongoing model changeovers, restructuring and the impact of US tariffs. UK vehicle production constraints continue in May 🚗🚚New car and commercial vehicle production volumes fall, by -32.8% as multiple challenges beset industry🇺🇸US share of exports shrinks prior to government securing new agreement with biggest single market🔋Industry welcomes… — SMMT (@SMMT) June 27, 2025 A total of 47,723 cars rolled off factory lines last month, while commercial vehicle output was down by more than 50% to 2,087 units. Car production for export fell by 27.8%, with shipments to the EU and US, the UK's two largest markets, down by 22.5% and 55.4% respectively. The SMMT said rapid action on energy costs and an increased ability to access key overseas markets, as well as additional measures to energise domestic demand, could put the UK on course to reclaim its place in the top 15 automotive manufacturing nations, for the first time since 2018. Mike Hawes, SMMT chief executive, said: 'While 2025 has proved to be an incredibly challenging year for UK automotive production, there is the beginning of some optimism for the future. 'Confirmed trade deals with crucial markets, especially the US and a more positive relationship with the EU, as well as Government strategies on industry and trade that recognise the critical role the sector plays in driving economic growth, should help recovery. 'With rapid implementation, particularly on the energy costs constraining our competitiveness, the UK can deliver the jobs, growth and decarbonisation that is desperately needed.'
Arab News
27-06-2025
- Automotive
- Arab News
UK made fewer vehicles for the fifth straight month in May as Trump tariffs bite
Technicians work on a Rolls-Royce engine prior to it being installed in a car on the production line of the Rolls-Royce Goodwood factory. (AFP) LONDON: Britain's vehicle production declined from a year ago for the fifth successive month in May, industry data showed on Friday, as factory disruptions and US tariffs weighed on automakers. UK car and commercial vehicle production dropped 32.8 percent from a year ago to 49,810 units last month, marking the worst percentage drop in May output since 1949, excluding the COVID-19 pandemic-hit 2020, according to data from the Society of Motor Manufacturers and Traders. Exports to the UK's two biggest markets, the EU and the US, declined by 22.5 percent and 55.4 percent respectively, SMMT said. US President Donald Trump's 25 percent tariffs on imported automobiles and parts, imposed in March, have disrupted global supply chains, added hundreds of millions of dollars in costs for manufacturers, prompted export suspensions and pushed several automakers, especially in Europe, to consider shifting production to the US to avoid the duties. British manufacturing also contracted in May, as output, orders and employment declined. Still, SMMT chief Mike Hawes said the UK's trade deals, especially with the US, and a more positive relationship with the EU, provided some optimism. The US and UK reaffirmed a previously agreed trade deal during the G7 summit in Canada earlier this month, under which up to 100,000 UK-made cars a year can enter the US at a 10 percent tariff, lower than the 25 percent rates other countries face. In May, Britain reached a trade deal with India to lower tariffs and set quotas on auto imports, while also moving closer to the European Union on cooperation in defense, energy and agriculture. Car production, excluding commercial vehicles, dropped by 31.5 percent in May, largely driven by model changeovers, restructuring and the impact of US tariffs, SMMT said.
BBC News
16-06-2025
- Automotive
- BBC News
Trump signs order confirming parts of UK-US tariff deal
US President Donald Trump has signed documents to reduce tariffs on UK cars, which will bring into force parts of a tariff pact agreed between the two countries last month. Speaking at the G7 summit in Canada, Prime Minister Sir Keir Starmer called the move a "very important day" for both countries. The pact was the first that the White House has announced since it imposed tariffs on various goods entering America from around the world earlier this year. But a 10% levy remains in place on most goods from the UK.
The Sun
10-06-2025
- Automotive
- The Sun
10 cheapest new cars to insure in the UK revealed – as one motor could save you hundreds
MOTORING experts have revealed the ten cheapest cars to insure in the UK. The average insurance premium has increased by a whopping 43 per cent year on year from £284 in 2024 to a shocking high of £941. Prices have begun to drop over the past few months but the average quote is now sitting around £834, which is still a huge premium. Experts have now revealed how to get this massive premium down a bit. They've revealed the top ten cheapest cars to insure in the UK to help keep the price of motoring down for everyday Brits. Not only are the motors cheap to insure but they are affordable for anyone looking to pick up a new car. The list consists mostly of hatchbacks and super minis but some SUVs do make an appearance. Skoda Fabia 10 The Fabia is reportedly the cheapest of all UK motors to insure. The little Czech hatchback only costs around £237 a year to insure and can be bought for an impressively low £19,410. Seat Ibiza The Ibiza remains a cheap option since the mark one was introduced to the UK market in 1983. At only £240 a year and £19,795 to buy the little hatchback remains one of the UK's best cheap and cheerful models. Dacia Sandero Costing just £240 a year to insure and a very cheap £13,250 to buy, the Romanian motor offers an excellent option for first time drivers. Only slightly more expensive to insure than the Ibiza the Sandero is a fair sight cheaper to buy than most of the alternatives. Volkswagen Polo 10 The German made Volkswagen Polo is up next with an insurance premium of around £247. A favourite among first time drivers in the UK the Polo costs just £21,210 to buy. Volkswagen T-Cross 10 Surprisingly the SUV style Volkswagen T-Cross came in next, despite being large it can be insured for just £248. A Volkswagen T-Cross could be purchased for around £24,895 and offers the most space on the list, perfect for families. Hyundai i10 10 The first Japanese car on the list, the Hyundai i10, can be insured for only £259 and purchased for a modest £16,380. The most technologically advanced of the motors on this list the i10 offers a slew of futuristic features not available with some of the other options. Kia Picanto The tiny Kia Picanto can be insured for just £250 and bought for only £18,945. One of the smallest motors on the list the quick little car is a perfect option for the city, learners or first time motorists. Kia Stonic 10 Another Kia, the Stonic, though much larger than the hatchback Picanto, can be insured for around the same at £260. Buying one is a fair bit pricier though costing motorists around £20,265. Hyundai i20 10 Not to be confused with the much more powerful i20N the Hyundai i20 can be insured for just £282 and purchased for £20,880. A little larger and more powerful than some other entries on the list the i20 offers a bit of a step up in performance for a bit of a step up in cost. Toyota Aygo X Scraping in at the bottom of the list the Toyota Aygo X can be insured for £307, the only motor on the list to break the £300 mark. It remains relatively cheap to buy however at around £16,515. How to get cheap car insurance CAR insurance is an essential cost that you hope to never use but will need to cover the costs of theft or damage to your vehicle. It's a legal requirement to have car insurance, and going without it could land you with a £300 fine, six penalty points on your licence and even a criminal conviction. But there are several ways to slash your premiums. Pay upfront Insurers give you the choice of paying for insurance monthly or upfront. Paying monthly spreads the cost of your cover but the insurer adds interest charges which means the average motorist pays around ten per cent more overall. If you pay for your car insurance annually you don't pay any interest. A typical motorist can save up to £225 a year by paying in one go, according to comparison site MoneySuperMarket. Increase your excess The excess is what you agree to pay each time you need to make a claim on your policy. You can usually choose your own excess when setting up a policy and it can be as low as £100 and as high as £500 or more. The higher your excess, the lower your premium and vice versa. This means you could bring the cost of your insurance down by agreeing to pay more if you do need to make a claim. But before you hike your excess, make sure you would be able to pay in the event that you do need to make a claim. Tweak your job Certain jobs are seen as more risky than others for insurance purposes. Making small but accurate changes to your job title can save you money. For example, swapping your role from "chef" to "caterer" can save you £20, comparison site GoCompare found. And changing your role from "fast food delivery driver" to "delivery driver" could save you £40. But lying about your job could invalidate your policy so make sure any changes are legitimate and accurate. Shop around Not all comparison sites have the same range of insurers so to get the best price it's a good idea to check two or three from Go Compare, Comparethemarket, MoneySupermarket and Insurer Direct Line is also not on comparison sites so check its prices directly. You can also get a free cash bonus by going via a cashback site such as Topcashback or Quidco. Save the date Renewing your car insurance sooner rather than later could save you some cash. New cover becomes more expensive the closer you get to the renewal date. But you can buy your car insurance up to 29 days before the policy start date and 'lock in' the price you're quoted on that day. A typical driver can save up to £265 buying new cover at least 27 days before their current policy ends, according to Go Compare.
