Thursday 2nd December 2004

Embattled Rover plans fightback

Plucky company does what Brits do best...

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Rover boss Kevin Howe has outlined plans for a Rover fightback. Speaking to the local Birmingham Post, Howe said that he wanted to rebuild confidence, as well as traditional MG and Rover buyers who may be switching to rivals because if fears for the future of the Longbridge company.

In the short term, hopes to rebuild sales after the massive slump are pinned on the two concept cars already unveiled -- an MG GT and a Rover 75 Coupé --  but plans to produce them have yet to be finalised. Longer term, the tie-up with Chinese carmaker SAIC (see earlier PistonHeads story using link below) is "vitally important", as are the new models that would ensue.

Since the sale of  the company to Phoenix Venture Holdings, Rover has seen sales drop massively by about half; European sales were down 16.5 per cent over the last year alone, according to industry stats body ACEA. UK sales are 23 per cent down at 40,399, with MG car sales at 28,040, 15 per cent below 2003. UK market share is down to just over three per cent or last October.

Rover's troubles were not eased by recent comments from BMW top brass about how Rover executives are lining their own pockets despite the group's massive losses, allegedly paying themselves more than their equivalents at profitable BMW.

Link to earlier Rover story: www.pistonheads.com/news/default.asp?storyId=9499

[kamal996]

Can you believe that you can lease a MGTF 115 for £1k down and £117 per month for 2 years and 12k miles. Lots more innovative deals like this may actually get bums in seats!

[350matt]

Unfortunatly what they really need are new cars, not the same old models re-vamped over and over. I'm sorry to say that I'd be surprised if the company survives another 5 years

[PetrolTed]

With the Chinese deal they'll have the funds to develop new models.

[sidevalve]

kamal996 said:

Can you believe that you can lease a MGTF 115 for £1k down and £117 per month

Really? Are you telling me there are actually people around who are stupid enough to pay that kind of money for an out-of-date, ugly, badly-finished piece of rubbish like that? Geez!

[LongQ]

kamal996 said:

Can you believe that you can lease a MGTF 115 for £1k down and £117 per month for 2 years and 12k miles. Lots more innovative deals like this may actually get bums in seats!

You sure?

The 160 is £1k OFF THE DEPOSIT, i.e. was circa £7.6k but they only want £6.6k. That sort of deal. SO hand it back after 2 years and it will have cost more like 9 or 10k in total. Unless there is positive residual balance.

I assume the 115 is not so much cheaper ...

[kamal996]

LongQ said:

kamal996 said: Can you believe that you can lease a MGTF 115 for £1k down and £117 per month for 2 years and 12k miles. Lots more innovative deals like this may actually get bums in seats! You sure? ...

Yes- Through a lease broker. Hand back the car at the end. £1k down and hand car back.

At a £117 per month its alot better then a Clio or crappy Punto!