Web-based motor insurance platform ReNewBuy is planning to raise $1.5m from Singapore-based investment and advisory firm Mount Nathan in its next round of funding to finance its future growth. ReNewBuy is a platform with more than 7,000 car and bike insurance policies monthly. It has previously raised $1m from Mount Nathan through its investment entity Havelock Road LLP. Balachander [...]

New car registrations in Europe’s ‘Big five’ markets dropped by two per cent in July, as market conditions halted the positive trend that had dominated over the previous 15 months. While Spain, Italy and the UK all posted modest growth in July, this could not fully compensate for the declines seen in France and Germany [...]

Tong Yang has become the first manufacturer in Taiwan authorised to use the NSF Sustainability mark on bumper covers. In 2012, Tong Yang’s bumper components were among the first parts to be certified by NSF International’s Automotive Parts Certification Program, which certifies parts that are ‘equivalent in form, fit and function’ to the OE service [...]

Worldwide sales of ŠKODA rose one per cent in July to 83,700 units. The Czech manufacturer made significant gains in China (up 16.1%) and Russia (up 11.6%), while sales of the ŠKODA SUPERB shot up 92.7% over last year. Werner Eichhorn, ŠKODA board member for sales and marketing, said, ‘ŠKODA’s growth has also continued in [...]

Australian lawyers have begun a class action against Volkswagen on behalf of 100,000 VW owners in the county. This follows the emissions scandal of last year, with lawyers arguing that the German car manufacturer duped Australian motorists and must now offer proper compensation. Maurice Blackburn class action lawyer Jason Geisker said, ‘It’s time they offered [...]