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UK – India-made Duster contributes 56% of Dacia’s first year sales
Dacia entered the market in January with the Sandero and Duster, the latter exported from the Renault-Nissan alliances Chennai factory. The 10,000th Dacia sold was a Duster! Out of the 10,000 units retailed, 5,600 units are the Dacia Duster, while 5,400 cars were the Romania-made Sandero hatchback. Dacia has also announced the Logan MCV (Logan estate) in its lineup recently, which is yet to begin sales though. Another model which Dacia hopes would do big numbers is the Sandero Stepway variant (a raised Sandero with an off-roader appearance). The ten thousandth car, a Gray Metallic Ambiance diesel variant with 44, was driven away by a hospital worker. The owner said she was drawn to the car after she learned that it was voted as the Scottish car of the year. She traded in her petrol-powered Mazda 6 for the SUV. The Duster is also available with a 1.6-liter petrol engine, and additionally in 2WD. Dacia have also announced the Logan MCV and the Sandero Stepway in their lineup. Dacia UK say that their models enjoy a good residual value. After three years of 60k miles, a Sanderos estimated residual value is 38% while the Duster enjoys 35% for the same period. Dacias best performing dealers in this region are in Scotland and Wales. Like this kind of content?
UK Government Announces Winners Of The GREAT Tech Awards
“The technology sector is of utmost importance to the UK, and is bolstered by our commitment to innovation, entrepreneurialism, and a dynamic business climate,” said HRH The Duke of York, whose official work includes supporting the economic success of the UK. “The GREAT Tech Awards offer an unparalleled opportunity for the winners to use the UK as their next step towards international expansion and success. I wish the winners the best of luck on their exciting new journey across the Atlantic.” The US award winners were handpicked by a panel of judges representing the finest industry leaders, influencers, and entrepreneurs. The winners are: Media: ADstruc The Advisors’ Choice Award, awarded to Blippar , recognizes a British technology company that has successfully established a New York office. Sponsors of the competition include Virgin Atlantic Airways, Royal Bank of Scotland (RBS), TaylorWessing, BritishAmerican Business (BAB), and Blick Rothenberg. “We are thrilled to announce the winners of The GREAT Tech Awards tonight, which represent the best of the UK-US tech industry,” said Danny Lopez, British Consul-General to New York. “We have seen exponential growth in tech clusters in both UK and US cities in recent years, and it’s no coincidence. Winners will embark on a journey of international expansion in the best country in Europe to grow a business, and these bespoke development packages will provide a helpful boost for these companies to succeed.” The five category winners receive a customized package that includes: a premium economy round-trip airplane ticket provided by Virgin Atlantic Airlines departing from JFK on October 14, and returning from LHR on October 19, 2013; a meeting with a senior representative at the UK Prime Minister’s Office, No. 10 Downing Street; over $4,000 worth of legal services courtesy of TaylorWessing; $3,000 worth of accountancy/business advisory services provided by Blick Rothenberg LLP; a two-day customized business development program in London (15-16 October); three classes at General Assembly in London; one entry pass to London’s Wired 2013 Conference (17-18 October 2013); an introductory meeting with a major British brand to be selected by a sponsor; a tour of co-working and shared office spaces in London; a free annual corporate membership with BAB in either London or New York’s chapters; a complimentary Gold Ticket Registration to the BAB Christmas Luncheon (in either London or New York); inclusion in a feature on the winners in BAB New York’s Network magazine. The Advisors’ Choice winner’s prize package includes: a business reception hosted by the British Consul-General New York at the British Residence; a free annual corporate membership with BAB in either London or New York’s chapters; three classes at General Assembly in London; a complimentary Gold Ticket Registration to the BAB Christmas Luncheon (in either London or New York); inclusion in a feature on the winners in BAB New York’s Network magazine. Judges include: Ben Lerer, CEO/Co-founder of Thrillist Media Group and partner at Lerer Ventures; David Karp, CEO/Founder of Tumblr; John Borthwick, CEO/Co-founder of Betaworks; Margaret Dohnalek, Global Head of Technology Scouting, PepsiCo; Simon Bradley, Vice President Marketing, North America, Virgin Atlantic Airlines.
Lorillard Acquires UK E-cigarette Brand
Per the deal, Lorillard will pay approximately 30 million pounds in cash at the time of completion of the deal. In addition, the deal includes a clause to pay an additional 30 million pounds in 2016 on the achievement of certain financial milestones. Post-acquisition, SKYCIG will become a separate operating subsidiary of Lorillard and the company will retain its current management team and business locations in the UK. Lorillard captured a leading position in the electronic cigarette industry in the U.S. after it acquired e-cigarette brand blu e-Cigs in Apr 2012. The SKYCIG acquisition will further boost Lorillards sales as the e-cigarette segment is evolving rapidly. It will also provide this Zacks Rank #2 (Buy) company an opportunity to expand in the wide UK electronic cigarette market. On the other hand, SKYCIG is expected to gain from Lorillard’s marketing, regulatory, research and development expertise, which will help the brand to further strengthen its foothold in the UK e-cigarette market. We note that smokers are shifting their preference to electronic cigarettes due to rising health concerns. Though sales of electronic cigarettes are on the rise, the maker of Newport and Maverick brands has been witnessing a decline in traditional cigarette volumes since the past many quarters. Cigarette volumes have been impacted by a slowdown in the tobacco industry, increasing health consciousness among consumers and significantly higher prices of cigarettes. Moreover, the industry deals with increased regulation on packaging (graphic warning labels) in some international markets and heightened Food and Drug Administration (:FDA) concerns about the effect of menthol and electronic cigarettes. The company has been making constant efforts to revive volumes.