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New car sales in UK still growing – up 14.8% April 2013. Driven by PPI Claims?

It is quite hard to fathom just how UK new car sales (well, registrations) continue to rise inexorably against a backdrop of otherwise stagnant economic activity, but they do. April 2013 has seen a total of 163,357 new car registrations, up a huge 14.8 per cent on April 2012 and the best figure since 2008, and these sales figures are not being driven by fleet buyers but by private motorists – private sector registrations grew by 32.3 per cent in April and are up by 15.2 per cent year to date. Not surprisingly, it’s the Superminis that are performing strongly – although all sectors are showing a rise – and it’s the Ford Fiesta that continues to be the best seller in the UK with sales of over 8,000 in April and over 42,000 so far in 2013, and the rise of superminis has also seen an increase in sales of petrol-engined cars thanks to the wave of small capacity, frugal petrol options.

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Lexus Premium Compact – The Lexus CT?

Update 12th Feb 2010: Finally we get confirmation that the production name is the Lexus CT 200h. Update 1st September: Lexus has now revealed their Premium Compact as the Lexus LF-Ch. Back in ’05, the rumour was that the compact would be called the Lexus BS.