Ex-VW boss faces trial over dieselgate

Former Volkswagen Group chief executive Martin Winterkorn appeared before a German court yesterday on charges of fraud and market manipulation.

The charges are in connection with the corporate scandal over Volkswagen’s use of rigged software that let millions of cars cheat emissions tests and emit high levels of harmful pollutants.

Winterkorn’s lawyer, Felix Doerr, said ahead of the court proceedings in Braunschweig that ‘our client definitively rejects the accusations brought against him’. The case continues.

Fraud and scam complaints hit highest level recorded by ombudsman service

Scam-related complaints have reached their highest level since they were first tracked in early 2018, according to a service that resolves disputes between consumers and financial firms.

In the first quarter of this financial year (April 1 to June 30), consumers lodged 8,734 gripes about fraud and scams, the Financial Ombudsman Service said.

More than half were in relation to customer-approved online bank transfers, also known as authorised push payment scams.

Musk’s Starlink backtracks and will comply with order to block X in Brazil

Elon Musk’s satellite-based internet service provider Starlink has backtracked and said it’ll comply with a Brazilian Supreme Court justice’s order to block the billionaire’s social media platform X.

Starlink said in a statement posted on X that it’ll heed Justice Alexandre de Moraes’s order despite him having frozen the company’s assets.

Previously, it informally told the telecommunications regulator that it wouldn’t comply until Judge de Moraes reversed course.

Trump campaign must stop using song Hold On, I’m Coming

A federal judge in Atlanta has ruled that Donald Trump and his campaign must stop using the song Hold On, I’m Coming while the family of one of the song’s co-writers pursues a lawsuit against the former US president over its use.

The estate of Isaac Hayes Jr filed a lawsuit last month alleging that the Republican presidential nominee, his campaign and several of his allies had infringed its copyright and should pay damages.

After a hearing on the estate’s request for an emergency preliminary injunction, US District Judge Thomas Thrash ruled yesterday that Trump must stop using the song, but he denied a request to force the campaign to take down any existing videos that include the song.

Aston Martin revives Vanquish name for V12-powered flagship

Aston Martin has renewed its commitment to the V12 engine with its new range-topping Vanquish.

It retains the 5.2-litre V12 that was used on its predecessor but has a more robust block and larger turbochargers and it’s all powered through an eight-speed automatic gearbox.

In total, the engine produces 842bhp and 1,000Nm of torque, resulting in a 0-60mph time of three seconds and a top speed of 214mph. The Vanquish will be available ‘in limited numbers’ with orders open now ahead of first deliveries in the final quarter of this year.

Yesterday on Car Dealer

Trading standards target rogue used car dealer

Cumbernauld Car Sales Ltd and its director, Jakub Niemczyk, received a permanent trading standards enforcement order at Airdrie Sheriff Court after selling unroadworthy vehicles and making misleading statements. They must provide written cancellation rights, ensure vehicles are safe and avoid false claims. Non-compliance could lead to further legal action.

Used car dealer wins legal fight against customer who exploited distance-selling loophole

Used car dealership Williams Group Maidstone won a legal battle against buyer Duncan Edward Humber, of Oxted, who exploited a loophole in distance-selling rules. Humber, who had successfully used this tactic before, had sought a full refund on a Tesla, claiming it was a distance sale. Bromley County Court ruled against him, awarding the dealer £23,400 in costs.

Waylands expands retail network with acquisition of Gloucester Volvo

Waylands Automotive has expanded by acquiring a Volvo dealership in Gloucester, adding to its existing franchises. The site will include six electric charging points. CEO John O’Hanlon said he was ‘thrilled’ about extending its services, adding that the new site would uphold the high standards associated with the Waylands brand.

Vertu boss takes swipe at ZEV mandate as manufacturers restrict supply

Vertu CEO Robert Forrester has criticised car manufacturers for limiting petrol and hybrid car supplies to meet the government’s zero emission vehicle mandate, which requires increasing electric vehicle sales or facing fines. He argues that this restriction hinders sales, pushing cars that customers may not want, creating market volatility.

Auto Trader and What Car? new deal seeks to ‘redefine’ buying and selling experience

Auto Trader and What Car? are expanding their partnership to enhance the new car buying and selling experience. What Car?’s ‘New Car Deals’ will be replaced by Auto Trader’s platform, offering access to 20,000 new cars daily. This integration aims to provide a seamless journey for nearly 11m users.

Some used EVs are depreciating less than petrol models as sales hot up

Analysis by Auto Trader reveals that while some used EVs have seen significant price drops, others now depreciate at the same or even a slower rate than petrol models. Older EVs, around four to six years old, are now priced similarly to or cheaper than their petrol counterparts, offering potential long-term savings.

Stocks and currency movements

London’s top stocks dropped further yesterday as weaker oil prices and downbeat trading on Wall Street hit equities.

The FTSE 100 finished 65.38 points down to end the day at 8,298.46. The Cac 40 closed 71.32 points down at 7,575.10, the Dax was down 183.74 points at 18,747.11, and the Dow Jones was down 626.15 points at 40,936.93.

Meanwhile, sterling stepped back again as currency traders continued to sell off following last week’s year-high versus the dollar. The pound was down 0.31% at $1.310 and down 0.03% at €1.186.

Weather outlook

Today, most areas will see a mix of sunny spells and showers, says BBC Weather. Late in the day, parts of central and southern England will see the showers merge into more persistent spells of rain, heavy at times.

On Thursday, Wales and southern England will be wet with showery spells of rain, sometimes heavy. It’ll be mostly cloudy and dry in eastern Scotland and north-east England. Elsewhere, it’ll be dry with sunny spells.

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The post Sep 4: Ex-VW boss dieselgate trial; Frauds and scams at new high; Aston revives Vanquish appeared first on Car Dealer Magazine.