Six in 10 people have made changes to spending
Six in 10 (59 per cent) people have made changes to their lifestyle or finances to cover the cost of essentials in the past month, according to Which?
Changes included cutting back on essentials, borrowing from family and friends, taking out loans or credit cards, dipping into savings or overdrafts, or selling items.
The proportion of people making financial or lifestyle changes has increased from 54 per cent in March and 35 per cent in April 2021, as living costs surge.
Mercedes unveils T-Class compact van
Mercedes-Benz has weighed into battle against the Volkswagen Caddy with its new T-Class.
Initially available in a standard length, the T-Class offers space for five people though a long-wheelbase version with seating for seven is due to follow shortly. It uses sliding doors on both sides to allow for easy entry into the cabin, while the rear bench seat can be folded flat to provide a fully horizontal loading area.
Inside, the T-Class features many of Mercedes-Benz’s latest features, including an MBUX infotainment system with seven-inch touchscreen, alongside a multifunction steering wheel and a 5.5-inch instrument cluster ahead of the driver.
Government showed ‘disregard’ to taxpayer over Bounce Back Loans
The head of an influential group of MPs has accused the government of using the speed of its response to the pandemic to excuse a ‘disregard’ to how much it will cost the taxpayer.
Meg Hillier said her fellow members on the Public Accounts Committee were ‘unpleasantly surprised’ to learn the government had learned ‘little’ from the 2008 banking crisis.
The committee, which Dame Meg chairs, said the Department for Business Energy & Industrial Strategy (Beis) was ‘complacent’ in preventing fraud in the Bounce Bank Loan Scheme, which funnelled billions to small companies.
£220m of Russian oil has come to UK since war began
The UK has imported around £220m worth of Russian oil since the Kremlin sent troops and tanks across the border into Ukraine in February.
Figures released on Wednesday show 1.9m barrels of oil, or 257,000 tonnes, have been imported since Russian president Vladimir Putin launched the latest stage of his eight-year occupation of Ukraine.
They flowed into the country on oil tankers from Russia tracked by environmental campaigners at Greenpeace.
They kept coming even after the Government said it would ban Russian oil imports; the UK will phase out its use of Russian oil but only by the end of the year.
Household goods rise in price
The cost of buying or replacing everyday household goods is rocketing as rising energy and shopping bills bite, according to analysis.
A washing machine typically costs £161 more than it did two years ago, while a cooker will set someone back £334 more on average, a website has found.
Those who need a new television, meanwhile, can expect to pay £49 more than they would have done two years ago, while a tablet is now £74 more expensive on average.
Volta trucks reveals next generation of electric HGVs
Volta Trucks has revealed the next evolution of its Zero range of electric heavy goods vehicles.
The 7.5- and 12-tonne variants seen here will join the larger 16-tonne model that is undergoing testing and development ahead of customer evaluations later this year, as well as an 18-tonne model that should enter production in 2023.
Volta Trucks is a Swedish company, but its engineering is led from the UK and the vehicles have been designed in partnership with Warwick-based Astheimer Design.
Tuesday’s Car Dealer headlines you might have missed
- Carzam CEO Kirk O’Callaghan removed as director of online used car disruptor
- Vertu Mercedes-Benz steps in to help charity after van went up in flames
- Exclusive: Used car prices fell AGAIN in April but not by as much as was predicted
- Volvo invests in Carwow but says this is about learning from the platform and not ‘sidestepping retailers’
- Ferrari and Porsche dealer Helston Garages posts £33.9m profit for 2021
- Tesla boss Elon Musk agrees £34.5bn deal to buy Twitter after criticism of social media platform
- New Startline Used Car Tracker provides snapshot of market sentiment
- New battery and upgraded technology among raft of updates given to Hyundai Ioniq 5
- The cars disappearing from the UK, an end to MPVs and rising EV costs with James Batchelor – Car Dealer Podcast
- The way your customers buy their cars has changed – Is your marketing up to speed?
Strong start for FTSE
A strong start to London trading lost its spark in face of a weak opening on Wall Street.
The FTSE 100 still crawled over the finish line in the green as commodity and property firms helped to keep it in positive territory.
London’s top index ended the day up 5.65 points, or 0.08 per cent, at 7,386.19 points.
Michael Hewson, chief market analyst at CMC Markets UK, said: ‘After some big declines over the past couple of days, and hitting five-week lows yesterday, European markets started the day very much on the front foot in early trade.’
Today will be cloudy in the north and east with a few showers in the southeast and northwest first, according to the Met Office.
However, elsewhere it will be dry and fine with sunny spells.
Further north will see some showers tonight and frost under clearer regions.