Japanese-owned NCP employs 682 people and manages approximately 340 car parks nationwide, but after crashing into £305million of debt, its future has never been more uncertain.

Bentley sold 10,131 cars last year - down by 512 or nearly 5% on 2024. It said this was driven 'largely by continued market contraction particularly in China'.

Troubled lender Close Brothers has announced 600 job cuts as it grapples with the fall-out from Britain's car finance scandal and an attack by a notorious short-seller.

The FCA said it was likely to make several changes to the proposed compensation scheme after receiving more than 1,000 responses to its consultation on the proposals.

Alistair Lock, chairman of the Motor Fuel Group said higher oil prices are ' inevitably going to feed through in due course to higher prices at the pump.' Oil surged after war broke out in the Middle East.

Wayve, which was founded in 2017, has secured the backing of tech giants and carmakers as it eyes the launch of driverless taxi trials with Uber this year.

Aston Martin will cut a further 20 per cent of its workforce after reporting lower-than-expected profits, as it battles pressure from US tariffs.

It also announced the sale of naming rights for its Aston Martin F1 team to AMR GP Holdings for £50m to help shore up its finances.

It follows write-downs by other car makers, including Ford and General Motors, as they slow their shift away from petrol and diesel.

The motoring giant reported a £310million loss in the three months to 31 December, down from a profit of £523million a year ago.

JLR said that the cyber- attack which hit production lines, forcing it to shut down all of its factories in Britain and overseas, has cost billions of pounds in sales.

The market share of battery-driven cars rose to 23.4%, or 473,340 vehicles, but that fell short of the government's 28% goal for 2025, industry figures showed.

Industry figures show brands such as BYD and Jaecoo - hitherto little known in the UK - shifted nearly 95,000 units in the 11 months to November.

Zipcar has announced plans to close its operations in the UK by the end of the year, it said today.

Ineos Automotive, which employs 1,700 people across the world, has been grappling with a big debt pile as well as Donald Trump's tariffs on imports into the US.