Automotive News – Early March 2026
Estimated reading time 5 minutes
Volkswagen has said it will cut 50,000 jobs in Germany by 2030 as its profits dropped to their lowest level since 2016.
Chief executive Oliver Blume told shareholders that the cuts would take place in Germany and fall across the entire group, including Audi and Porsche.
Europe’s largest carmaker said post-tax profits had fallen by around 44% in 2025.
Sourced from BBC News
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Nissan has expressed concerns about the future of its Sunderland site if the UK is not fully included in new ‘Made in Europe’ manufacturing rules, according to reports.
Under the EU plans, public subsidies to speed up the development of electric vehicles would only be available to EVs made in European plants. An announcement this week by the EU industrial strategy commissioner, Stéphane Séjourné, said the proposed Industrial Accelerator Act (IAA) is designed to protect the bloc from cheap competition from China.
There have been numerous reports this week, although none confirmed by the company itself, that Nissan has privately warned the UK government it could be forced to close if the proposals became law.
Sourced from The Manufacturer
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UK new light commercial vehicle (LCV) registrations rose by a modest 1.1% in February, with 14,641 vans, pickups and 4x4s joining the road, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). This was the second increase in three months following a 12-month stretch of decline, but February remains a small volume month, coming ahead of the March plate-change and typically accounting for just some 5% of annual volumes.
Growth in the month was driven primarily by the large van segment, with registrations of vans weighing 2.5–3.5 tonnes rising 7.6% to 10,719 units, accounting for nearly three quarters (73.2%) of all new vans registered during the month. Demand for vans in the 2.0–2.5 tonne segment also improved, up 16.9% to 2,477 units, while 4×4 registrations increased 64.0% to 269 units.
Sourced from SMMT
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The UK new car market rose by 7.2% in February to 90,100 registrations, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). The growth brings the highest February volume in 22 years, although the month is conventionally lower volume and therefore more volatile, with many buyers preferring to wait for the March numberplate change.
Demand was largely driven by recovering private retail registrations, up 17.6% to 35,227 units, while fleet uptake grew by 1.8% and the lower-volume business segment declined by -12.7%. Fleets remained the largest source of new car registrations, accounting for 59.4% of the market.
Sourced from SMMT
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Luxury motor manufacturer, Jaguar Land Rover (JLR), is seeking to raise new funds.
It has mandated a syndicate of banks to arrange, on its behalf, a series of virtual fixed income investor meetings to offer US dollar-denominated senior notes.
The issue will be in up to two series, a three-year and, or, a five-year tenor, respectively, subject to market conditions.
JLR has not revealed the value of the issue but said it will use the net proceeds from the issue and sale of the notes for general corporate purposes, including refinancing, refunding or replacing certain existing or future indebtedness.
Sourced from TheBusinessDesk
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Devon County Council has been awarded £7.53m to deliver 90 new zero emission buses across the county.
The Department for Transport funding, part of an expansion of the Zero Emission Bus Regional Areas (ZEBRA) scheme, will replace older diesel vehicles to cut harmful emissions and improve air quality for passengers travelling for work, education and healthcare.
Sourced from TheBusinessDesk
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Britain’s transition to zero emission vehicles must urgently be reviewed before targets accelerate exponentially from 2027, the automotive industry has warned, else the country’s net zero and economic growth ambitions could be thwarted.
New analysis published today by the Society of Motor Manufacturers and Traders (SMMT) shows the UK’s transition pathway was built on assumptions that have proved to be over-optimistic. Despite changes to regulatory flexibilities and the return of consumer incentives, the gap between policy ambition and market reality continues to widen.
Sourced from SMMT
