UK: PHOENIX TO REDUCE ROVER CAR PRICES
Article Abstract:
Phoenix plans to cut showroom prices on Rover cars in order to safeguard the long-term future of the UK-based car manufacturer's Longbridge facility. Reductions of as much as 12% are planned, meaning that the Rover 25 and Rover 75 models would start at around GB[pound] 8,000 and GB[pound] 16,300 respectively. The Phoenix consortium's chief, John Towers, believes that the premium pricing concept must be phased out, saying that BMW, the previous owner of Rover, wrongly tried to transform the business into a UK version of itself. Mr Towers intends to boost sales via permanent price cuts on all models. BMW imposed temporary cuts in April 2000 of 14%, leading to Rover sales rising at a rate not seen in 25 years.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
UK: ROVER SAYS IT CAN DEVELOP NEW MODEL ALONE
Article Abstract:
The UK car company, Rover, announced 29 October 2000 that it could develop a new model on its own if talks to develop a new model in conjunction with another car company collapse. Rover denied speculation that Malaysia's Proton had walked away from negotiations. Rover revealed that it remained in talks with a major car company with regards to the development of a new platform. Rover hopes to sign a deal to start development work by May 2001. The new platform is needed by 2004 to replace its 25 and 45 models.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
UK: BMW TO SELL PLANT TO MAYFLOWER
Article Abstract:
Mayflower, the UK car manufacturer, is expected to acquire a pressings plant in Swindon, UK, from German vehicle manufacturer BMW by early 2001, for GB[pound] 80mn-100mn. The acquisition will allow Mayflower to expand production for supplying a number of other car manufacturers such as Vauxhall. However, BMW will not be able to sell the Midlands Powertrain engine and gearbox operations based at Longbridge, UK, to MG Rover as planned. Ford, the US car company that uses engines from the plant for its Land Rover subsidiary, has blocked the deal due to concerns about the long-term viability of MG Rover. Meanwhile, MG Rover has denied rumours that production targets are being downgraded due to lower-than-expected sales, and says it is close to meeting its target of 200,000 sales for the year 2000.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: UK: SHAREHOLDER TRIES TO PREVENT NU/CGU MERGER. UK: ALLIANZ MAY BID FOR EQUITABLE LIFE. UK: AXA TO BID FOR NORWICH UNION OR CGU?
- Abstracts: UK: SHARP RISE IN BOOKHAM SHARE VALUE. UK: BOOKHAM TO SELL FEWER SHARES. UK: BOOKHAM REVEALS EXPANSION PLANS
- Abstracts: UK: BRITISH ENERGY, AES COMPETITION REFERRAL. UK: ENERGY REGULATOR CONFIRMS REBATE MOVE. UK: NEW OFFICIAL TO MONITOR FUEL FOR POOR
- Abstracts: UK: BARCLAYS BANK ANNOUNCES MORE BRANCH CLOSURES. UK: HALIFAX REVEALS INTELLIGENT FINANCE PLANS. UK: CRITICISM OF BARCLAYS SHARE OPTION SCHEME
- Abstracts: US: PREMATURE BIRTHS LINKED TO GUM DISEASE. UK: NEW TEST FOR PRE-ECLAMPSIA