Aug 25: Shein targets £20bn valuation; Suzuki's eSky; A66 crash latest

Shein targeting up to £20bn valuation in September stock market float Fast fashion firm Shein could be valued at up to 27 billion US dollars (£19.8bn) when it makes its long-awaited stock market debut in Hong Kong next week. The pricing for shares set by the group – giving it a valuation of between 202 billion HK dollars (26 billion US dollars/£18.9bn) and 210 billion HK dollars (27 billion US dollars/£19.6bn) – is thought to be far less than originally hoped for by the group, having reportedly been worth more than 100 US dollars (£73.3bn) at its peak following a private fundraising in 2022. It is said to have been initially aiming for a 30 billion US dollar (£22bn) valuation. Millions of 10p coins bearing King’s portrait entering circulation More than seven million 10p coins bearing the King’s portrait are entering circulation for the first time and will start appearing in people’s pockets and wallets. The Royal Mint said that 600,000 2023 dated and 6.5 million 2026 dated 10p coins featuring Charles are entering circulation across the UK. It said this is the first time that 10p coins bearing the King’s portrait will enter circulation. Suzuki’s eSky points towards future compact car Suzuki has revealed its new eSky, which is expected to inspire a UK-bound version soon. Unveiled in Suzuki’s native Japan, the eSky falls within the country’s strict kei car regulations, which are a class of vehicles defined by limits both on size and power. In Japan, drivers of kei cars get cuts in tax, insurance and parking costs, making them a popular option for drivers who want a simple and relatively cheap form of mobility. FTSE 100 outperforms as oil price heads lower The FTSE 100 closed higher in London on Monday, outperforming European peers, as oil prices edged lower and investors looked ahead to key events in the US later this week. The FTSE 100 index closed up 37.76 points, 0.4%, at 10,854.32. The FTSE 250 ended down slightly at 24,717.48, and the AIM All-Share closed up 2.08 points, 0.3%, at 814.04. In European equities on Monday, the CAC 40 in Paris closed down 0.4%, while the DAX 40 in Frankfurt shed 0.1% Monday on Car Dealer ‘I’d seriously consider packing in MOTs’: Garage owners demand test fee increase Independent garages warn MOT testing has become an unsustainable loss leader, with rising equipment, labour and compliance costs outstripping the £54.85 price cap. Garage owners are calling for increases to £75-£100, with some considering abandoning MOT testing altogether. Traditional car brands could quit UK within two years facing Chinese rivals, warns dealer boss Swansway director Peter Smyth has warned some established carmakers could leave the UK within two years as Chinese brands gain market share. He expects further industry consolidation, with Chinese manufacturers potentially accounting for up to 40% of the UK market by 2030. Day’s Motor Group posts reduced profits amid ‘undoubtedly more challenging’ year Day’s Motor Group’s pre-tax profit fell almost 25% to £12.13m in 2025, with turnover also declining amid economic uncertainty and industry changes. However, bosses praised the group’s resilience, while fleet and rental operations delivered growth and continued to support overall performance. Genesis grows UK dealer network after signing franchise deal with Brindley Group Genesis has expanded its UK dealer network with a new Cannock showroom operated by Brindley Group. The state-of-the-art site offers sales and aftersales facilities, a customer lounge and Genesis’s Korean hospitality concept, strengthening the brand’s presence across the West Midlands. Arnold Clark reveals six Scottish dealerships for new Chery brand Lepas Arnold Clark has revealed six Scottish dealerships that will represent Chery-owned brand Lepas from September 1. The sites form part of Lepas’s UK expansion, with the L8 SUV launching first as the brand targets 90 dealers by 2027. Pentagon Motor Group expands Chery partnership with pair of new car dealerships Pentagon Motor Group has expanded its Chery partnership with new showrooms in Barnsley and Loughborough. The sites have created 10 jobs, while 18 existing staff have been reassigned in Loughborough. Pentagon has also agreed to operate a regional Chery parts hub supporting the UK dealer network. Brand loyalty isn’t enough anymore: Why car dealerships need to win the first conversation Brand loyalty can no longer be taken for granted as new manufacturers and EVs give customers more choice, writes Iovox chief commercial officer Matt Gayleard [sponsored]. Five who died in A66 crash may have had links to ‘organised criminal activity’ Five young men who died after their vehicle hit a police car on a dual carriageway may have had links to “serious and organised criminal activity”, police said. Cleveland Police said 12 other people have been arrested over alleged criminality leading up to the collision in Teesside in which seven people, including two police officers, were killed. These included four people arrested on suspicion of participating in an organised crime group and four on suspicion of possessing a firearm. Burnham calls on allies to send more interceptor missiles to Ukraine Andy Burnham has urged Ukraine’s allies to send more interceptor missiles to Kyiv as Ukraine struggles under continued Russian bombardment. Chairing his first meeting of the so-called ‘coalition of the willing’, the Prime Minister said the group was doing ‘everything we can’ to ‘dig into our own stocks and help others dig into their stocks’. Ukrainian President Volodymyr Zelensky has repeatedly pleaded for more US-made Patriot interceptor missiles in recent months as Kyiv’s stocks have diminished. Weather outlook… Northern England and Scotland will be mostly dry but cloudy and breezy, with some brighter spells, while Northern Ireland sees similar conditions. Wales and the Midlands will be cloudier with occasional showers, while southern England faces scattered showers, potentially heavy and thundery. Overall, it will be warm, humid and unsettled. Nominate yourself for a Used Car Award Join our breaking news WhatsApp group Sign up for daily email Car Dealer news bulletins Listen to the latest Car Dealer Podcast Read the latest digital issue of Car Dealer Magazine