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Car cost warning adds to fears of 2017 price rise gloom

Car cost warning adds to fears of 2017 price rise gloom"/>

Car (HKSE: 0699-OL.HK - news) prices will start rising within weeks following the slump in the pound, the industry's trade body has warned.

The comments, by the head of the Society of Motor Manufacturers and Traders (SMMT) in an interview with Sky News, add to fears of growing pressure on household budgets already facing  rising fuel and retail costs .

Next (Frankfurt: 779551 - news) used a Christmas trading statement to warn on Wednesday that its prices were on course to rise by 5%.

Meanwhile, Bank of England chief economist Andy Haldane said rising prices may see consumers "throttle back" on spending - a key component of economic growth, which has partly been fuelled by rising household debt.

SMMT chief executive Mike Hawes said new car customers would see increases in the first quarter of the year, with rises of 2-3% over coming months.

It would mean a hike of up to about £400 on a new Ford Fiesta Zetec, which currently sells for just over £13,500.

That is in addition to an earlier warning that motorists face paying £1,500 more for imported cars when the UK leaves the EU if the divorce deal results in new tariffs.

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Premier League: Barcelona target Koeman ridicules speculation

Everton manager Ronald Koeman has allayed fears about him departing for Barcelona, with Luis Enrique reportedly leaving at the season's end.

Ronald Koeman has dismissed speculation suggesting he is being lined up as Luis Enrique's successor at Barcelona, insisting the rumours are "not important".

'I'm always linked with Barca' - Koeman plays down importance of speculation

The Dutchman enjoys a strong connection with the Catalan club having spent six years of his playing career at Camp Nou, before also becoming Louis van Gaal's assistant from 1998 until 2000.

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The day Cristiano Ronaldo almost joined Messi at FC Barcelona

The day Cristiano Ronaldo almost joined Messi at FC Barcelona

Nearly team mates: Ronaldo and Messi

As if Barcelona’s ‘Holy Trinity’ of Messi, Suarez and Neymar wasn’t scary enough, Cristiano Ronaldo has also claimed he would have loved the chance of playing with Leo Messi.

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Premier League: Everton complete £10m Lookman signing

Everton have completed the signing of Ademola Lookman on a four-and-a-half year deal from Charlton Athletic, the club have confirmed.

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Premier League: Manchester City only behind United in terms of titles - Pep

Guardiola: City only behind United in terms of titles
Pep Guardiola has stressed Manchester City are only behind Manchester United when it comes to silverware, and is adamant they have at least been on par with their arch-rivals in recent years.
 
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