Chancellor vows to defend British interests ahead of meetings in Washington

Chancellor Rachel Reeves has pledged to ‘defend Britain’s interests’ as she prepares to meet fellow finance ministers in Washington and push for a US trade deal.

Reeves will spend three days in the US capital for the International Monetary Fund (IMF)’s spring meetings, which bring together finance ministers and business leaders from across the G7 and G20.

While she champions Britain as a destination for investment, she will also hold her first face-to-face meeting with American counterpart Scott Bessant for talks on an economic deal between the US and UK.

Hobbycraft to shut nine stores and axe up to 126 jobs

Hobbycraft has announced plans to shut at least nine stores across the UK in a move affecting up to 126 jobs as part of a restructure.

Private equity firm owner Modella Capital is launching the overhaul after buying the arts and crafts retailer in August last year.

Modella, which is also reportedly pursuing a restructuring at its The Original Factory Shop business, agreed to buy WH Smith’s high street business earlier this year.

Mercedes Vision V Concept previews a new era for the firm’s electric vans

Mercedes has revealed what its luxury vans of the future will look like with the Vision V Concept.

Underneath its skin, the vehicle uses a new electric van platform called VAN.EA that Mercedes says will be the start of a new era from 2026.

Inside, the interior of the Vision V is referred to as a ‘Private Lounge’. It features a 65-inch cinema screen with a split-screen function that can display video games in 4K resolution, which rises from the floor when passengers climb aboard. Also, there is a surround-sound system with 42 speakers, including speakers in the seats and there are seven projectors in the headlining and floor.

The markets

London stocks continued their recent recovery on Tuesday, amid strong sessions for retailers and commodity firms. The FTSE 100 finished up by 0.64%, or 52.94 points, to close at 8,328.6. It marked its strongest closing level for more than two weeks.

The Cac 40 ended 0.56% higher for the day and the Dax index was up 0.34%.

The pound was flat at 1.338 US dollars but was up 0.41% at 1.166 euros when London’s markets closed.

UK hosting latest round of peace talks with Ukraine’s allies

US and European allies will join their UK and Ukraine counterparts in London for the latest peace talks on the war-torn nation’s conflict with Russia.

Wednesday’s gathering comes as Donald Trump’s administration continues to drive efforts to find peace between Russia and Ukraine.

Trump has suggested he is hopeful the warring parties ‘will make a deal this week’. But Kyiv could be forced to swallow a bitter pill under terms being ironed out between the US and Russia, according to the Financial Times (FT).

Pothole breakdowns up by nearly a fifth in 12 months

Vehicle breakdowns caused by potholes increased by nearly a fifth in 12 months, new figures indicate.

Some 9,439 callouts to breakdowns as a result of poor road surfaces in the UK were received by the RAC between January and March.

That was a 19% increase from 7,904 during the same period last year. Common vehicle problems caused by potholes include damaged shock absorbers, broken suspension springs and distorted wheels.

Tuesday on Car Dealer

Sytner continues to move on from axed Carshop brand as it sells Manchester site to Motor Range

Sytner has sold its former Carshop Manchester site to Motor Range, aligning with its brand restructuring. The location, once rebranded as Sytner Select, will now operate alongside Motor Range’s Liverpool site, with staff transferring to the new ownership.

Polestar launches battery health certificates as brand plugs into used cars

Polestar now offers battery health certificates for all used Polestar 2 models sold through its showrooms, enhancing transparency and customer confidence. The initiative supports a new focus on pre-owned EVs, including a dedicated Birmingham showroom launching in May 2025.

Podcast: How Jamie Caple fell back in love with the motor trade after being ‘ready to throw in the towel’

Car Quay boss Jamie Caple joins us on the latest episode of the Car Dealer Podcast. Click the link above to listen.

Hybrids flying off used car dealers’ forecourts as April 2025 is fastest-selling for four years

Hybrids are April 2025’s fastest-selling used cars, averaging 24 days on forecourts. Auto Trader reports overall used car sales have sped up, with hybrids dominating the top 10. The Mercedes-Benz GLA leads, selling in just 6.5 days.

Weather

Today, early rain in the south-east will clear, leading to drier conditions with variable cloud, reports BBC Weather. Other areas will see sunny spells and a few showers. Temperatures will hover around 15 degrees.

Tonight, showers fade with clear skies in the west, while the east and south may experience low cloud, mist, and fog developing.

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The post Apr 23: UK-US trade meetings; Hobbycraft to shut stores; Mercedes hints at next V-Class appeared first on Car Dealer Magazine.