TVR Article in Sunday Paper
Discussion
Full page article in todays Daily Mail about Peter Wheeler / TVR ..... suggests they havent filed their end of year results (suggesting they arent good), that previous results filed made a big loss (-£732K), that the current lack of economic certainty is stopping people buying, that the cars used to be half the price of a porsche and now they are the same or more etc....bascially saying how long can they last ?????
It also said that 5 Tuscans are in hollywood for a major film with 5 times the budget of swordfish.
Quite unusual to see such a full page article in a main Sunday paper.
(Just want to add that after sampling the delights of maranello and stutgart I am returning to the fold, dont care what is said but no other manufacturer can get close to the performance or individuality for the money. Hope situation sorts itself out)
Bennno
>>> Edited by bennno on Monday 13th January 15:46
For a company that will have a turnover in excess of £50M, a loss of £720K is not too bad. Accountants can "adjust" the figures to show pretty much anything. Without seeing the details it doesn't mean much. Figures not yet lodged is tardy but no big deal, many very large companies have not yet lodged for last year.
and is a TVR really worth more than a boxster and is it made as well .and why is the tuscan R £75000 and the tuscan S only £48000 seems they should go back to making chimaeras and griffs to keep the money coming in whilst the engines in the sixes are sorted out,look at the reliability probs on here cos things are not sorted ,seems that this thing always happens to the british companys ,look at the triumph stag ,dollie sprint ,rover sd1 2.3/2.6,all sold to the public before they were fully sorted ,it does put the buying public off....
The Tuscan R is £75K becuase it is essentially a GT Car. The Tuscan S is a Tuscan with a Red Rose package. Hence the Difference in price.
I have the article next to me and IMO they are making a mountain out of a mole hill.
I have the article next to me and IMO they are making a mountain out of a mole hill.
TVR's latest available accounts show that sales fell to £33Million from £36.9Million and the company plunged to a loss of £734,000 against a profit of £92,000 in 1999
...company spokesman Ben Samuelson said: "The accounts are late, but there is nothing untoward. There is no great mystery. They are on their way."
But while new car sales in Britain grew overall by 4.3% last year there was a 21% drop in registrations in the category called Other British Manufacturers, which includes TVR and other small car makers. Only 1,285 vehicles were sold.
Samuelson insisted this was not due to TVR. He admitted that sales dropped in 2001, but said they rose by a quarter last year. The firm's T350 attracted 104 orders at the Motor Show he added.
Another reason for the loss is that Peter Wheeler took a big pay packet for the last couple of years. When I say big its in towards the £1M mark. However, before anyone makes a mountain out of a mole hill - he didnt take any money in salary / bonus etc for years. So it was basically there to make up for the lack of money.... time to make the company pay I suppose. I wonder if he moved house?
As for slow down and late accounts - ask anyone in accounts or that does auditing - they are late for all sorts of reasons. And most of them harmless. That is why there is flexibility on the timescales as necessary and not normally an issue. However, it is in everyones minds after the recent round of high profile financial scandals. Attempting to create a scandal with TVR really shows how low the Daily Mail / Mail on Sunday has reached.....
Cheers,
Paul
As for slow down and late accounts - ask anyone in accounts or that does auditing - they are late for all sorts of reasons. And most of them harmless. That is why there is flexibility on the timescales as necessary and not normally an issue. However, it is in everyones minds after the recent round of high profile financial scandals. Attempting to create a scandal with TVR really shows how low the Daily Mail / Mail on Sunday has reached.....
Cheers,
Paul
I don't think it's anything to worry about really. There were a few good points - such as the cars were performance bargains, which is not so much the case any more - but then that's the cost of progress (and making your own engines for example).
Let's not forget what PW has done for the company, and the dire state it was in when he bought it... I can't really see it going to the dogs.
Given the overall state of the motor industry and the economiy, actually if that's the loss they do make - they're doing better than a lot of other people..!
Let's not forget what PW has done for the company, and the dire state it was in when he bought it... I can't really see it going to the dogs.
Given the overall state of the motor industry and the economiy, actually if that's the loss they do make - they're doing better than a lot of other people..!
One of the few remaining British Car manufacturers and do we celebrate that they're surviving in what must be pretty tough conditions of course not. No, why not run them down and see if it's possible for the media to increase any of the difficulties they're facing.
Would it not be fair to say that they're doing well to experience as little decline in turnover as they have? I'm sure there are many other companies who are doing worse.
Steve.
>> Edited by Steve _T on Monday 13th January 09:38
Would it not be fair to say that they're doing well to experience as little decline in turnover as they have? I'm sure there are many other companies who are doing worse.
Steve.
>> Edited by Steve _T on Monday 13th January 09:38
The article was indeed interesting, but I am unsure if the journalist was attempting to be totally impartial (very unlikely) or just too scared to say what he really thought! Some points where indeed well made but others like comparing T350 to a Boxter where poorly researched. A boxter does indeed cost less, AT BASE PRICE but by the time you get the slightest extra tacked onto your boxter to bring it inline with a T350 (+ paint etc) both will be about the same price. Granted only the very highest specked boxters will be exactly the same or more than a T350. And does an extra £3000 or so not seem fair when you consider the performance difference.
It just seemed to me that no clear conclusion was drawn once points where made. Put it this way is it possible the chap that wrote this article once owned a TVR and perhaps it was not to his liking!
The article was trying to cause problems with out getting any one in trouble.
It just seemed to me that no clear conclusion was drawn once points where made. Put it this way is it possible the chap that wrote this article once owned a TVR and perhaps it was not to his liking!
The article was trying to cause problems with out getting any one in trouble.
Given the current climate in the motor industry it's actually quite encouraging that TVR are turning over in excess of £30 million. The losses are minimal when you consider the turnover and if things pick up they will do very well. It's nothing when you compare it with the mess Lotus have been in and seem to be in every few years. I'm sure TVR will survive and go on to greater success. Any business relys on taking the rough with the smooth and after years of making huge profits on the Griff and Chimaera, TVR have to move on. Standing still and producing cars that were designed over ten years ago would be more damaging than bringing out fresh new cars.
I don't think we have anything to worry about just yet..
I don't think we have anything to worry about just yet..
rbfisher said: I was surprised to read that Clarkson and Wheeler are such good buddies going out on pheasant shoots together on Wheeler's estate. If that's the case why is JC so crap about Tivs?
not seen any of his videos then, the cerb demolishes the costly opposition on one, and the tamora wipes the floor with a boxster in another?
the only negative comment I have heard him say is that TVRs are not cool, and that was just to stir up a bit of controvercy - but being fair they arent suave, discrete and sophisticated like say a DB5.
I think the article was fairly well balanced and treated the subject as the crisis facing a great british car maker.
Perhaps it will get a few cheque books opening, read recently that Rowan Atkinson (rather wealthy Aston fan) approved of TVR far more now than Aston following recent developments. Said that TVR were being innovative and properly hand crafting cars to whatever personalised spec wanted, whist astons were effectively being mass produced and filled with fiesta parts by ford.
Hope it sorts itself out, but even worse case how about Audi doing what they did with Lambo or Bentley?
Bennno
rbfisher said: I was surprised to read that Clarkson and Wheeler are such good buddies going out on pheasant shoots together on Wheeler's estate. If that's the case why is JC so crap about Tivs?
JC's recent comments about TVR's have been somewhat tongue in cheek due to that friendship...
Matt.
A few observations, I read the article with interest but at the end thought it was an article created out of nothing, not much news and quite a few inaccuracies.
Like does a Boxter really cost £31k well I picked up a copy of Autocar and out of interest there was a Boxter 2.7 demo for sale at one of the dealers, delivery mileage with a few options like 18" wheels, metallic paint, hair-net etc. £36,990 i.e. 37k.
Also – he says that in the “good old days” TVR sold cars on the basis of offering performance that nothing could match for the price. Well same is still true because a 996 Turbo and a Lamborghini are still way more expensive and lets face it a £37k Boxter is not in the same league for performance wise (See Clarkson's video latest video throwing the lambs to the slaughter! The Tamora pisses all over a Boxter S.
It suggests that the downturn in the city is responsible for the decline in TVR’s being sales but since were TVRs the tool of choice for a City trader? They all got Porsches.
Good to see a full page on TVR and “any publicity is good publicity” but journalistically I thought it was a poor.
Rich...
Like does a Boxter really cost £31k well I picked up a copy of Autocar and out of interest there was a Boxter 2.7 demo for sale at one of the dealers, delivery mileage with a few options like 18" wheels, metallic paint, hair-net etc. £36,990 i.e. 37k.
Also – he says that in the “good old days” TVR sold cars on the basis of offering performance that nothing could match for the price. Well same is still true because a 996 Turbo and a Lamborghini are still way more expensive and lets face it a £37k Boxter is not in the same league for performance wise (See Clarkson's video latest video throwing the lambs to the slaughter! The Tamora pisses all over a Boxter S.
It suggests that the downturn in the city is responsible for the decline in TVR’s being sales but since were TVRs the tool of choice for a City trader? They all got Porsches.
Good to see a full page on TVR and “any publicity is good publicity” but journalistically I thought it was a poor.
Rich...
Bloody, sodding journos.
My God; what PW's done with TVR should merit a Knighthood; so they have a flat year? So he paid himself £3m a while back?
The alternative would have been (probably) NO modern TVR...
PW is a star and we should be doing everything in our power to rally and support, even if it's just words of encouragement.
Talk about creating a recession?
morons for bothering to draw peoples' attentions to what is almost an accounting irrelevance and stimulating doubt, precipitating rumour and a confidence crisis.
I dunno; it just feels like you simply are not allowed to get on in this bloody country, sometimes.
My God; what PW's done with TVR should merit a Knighthood; so they have a flat year? So he paid himself £3m a while back?
The alternative would have been (probably) NO modern TVR...
PW is a star and we should be doing everything in our power to rally and support, even if it's just words of encouragement.
Talk about creating a recession?
morons for bothering to draw peoples' attentions to what is almost an accounting irrelevance and stimulating doubt, precipitating rumour and a confidence crisis. I dunno; it just feels like you simply are not allowed to get on in this bloody country, sometimes.
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