Why is TVR for Sale but what now?
Discussion
I've read a lot about TVR being for sale but why now? PW has a majority share. Sales appear ok so why get out now? 15 million may be cheap compared with what he paid and also with investment over the years but if we belive what has been published on these pages there are buyers who have turned this down even at this price. There must be a few problems that we don't know about. OK so the S6 is not as good as it should be. Overseas sales are pathetic compared with the UK and there is no chance of them breaking into the US despite wasting money on racing there. So why sell now?
Perhaps the factory has reached its production limit and the thinly desguised repackaging of Tuscans as other brands will fall foul of production qoutas under the small production legislastion. There also reports of dealers walking away because of problems with the factory. Frankly I do not belive that these problems are of PW's making. OK so he's the boss but we also know that the number 2 is really 'running' the show. This guy is hardly a credit to TVR. Yes he may be committed to he racing scene but some of the other comments he makes rearding tax returns and safety devices etc are beyond belief. Every time there is a little face-time Baldrick appears. For God's sake he cannot even make sure that the cars are ready to face the Press. Remember the 200mph challende in Evo (?). It really is 1 step forward and 2 backwards. PS would get a much better price (10 times plus), if he got the house in order before putting the thing up for sale. At 15 million it is available to all sorts who may not have have the finacial backing to turn the factory around. My fear is that this is the begining of the end.
A fresh start now could be the shot in the arm that TVR needs but it could also spell disaster. Sorry to strike such a downbeat note but it needs to be said if TVR is to have a future. I've deliberately been controversatial to start a debate. Come on, for those of you that care about the brand (and I know we are many) let your real thoughts be known before it is too late.
Perhaps the factory has reached its production limit and the thinly desguised repackaging of Tuscans as other brands will fall foul of production qoutas under the small production legislastion. There also reports of dealers walking away because of problems with the factory. Frankly I do not belive that these problems are of PW's making. OK so he's the boss but we also know that the number 2 is really 'running' the show. This guy is hardly a credit to TVR. Yes he may be committed to he racing scene but some of the other comments he makes rearding tax returns and safety devices etc are beyond belief. Every time there is a little face-time Baldrick appears. For God's sake he cannot even make sure that the cars are ready to face the Press. Remember the 200mph challende in Evo (?). It really is 1 step forward and 2 backwards. PS would get a much better price (10 times plus), if he got the house in order before putting the thing up for sale. At 15 million it is available to all sorts who may not have have the finacial backing to turn the factory around. My fear is that this is the begining of the end.
A fresh start now could be the shot in the arm that TVR needs but it could also spell disaster. Sorry to strike such a downbeat note but it needs to be said if TVR is to have a future. I've deliberately been controversatial to start a debate. Come on, for those of you that care about the brand (and I know we are many) let your real thoughts be known before it is too late.
)
I understand that the figure was £750,000 in 1981 (TVR was in a bad way then some 60 cars were impounded in the USA with the wrong paperwork and sales of the 'new Tasmin' were disappointing. PW is rumoured to have had about £3m at the time and he put most (if not all) the rest into the company during the early years. These numbers came out of interviews and magazine articles in the early 80s
He recouped that and more in the heyday of the Griffith and Chimaera and for the last few years has taken a reasonable 'salary'. Numbers available from Companies House.
If he wants to sell the business then thats his own business, good luck to him and I hope he gets what he wants for it. Most people are not in business for the love of it, but do want to realise some capital and some lifetime left in which to spend it in.
The company does not belong to TVR owners, many of whom come on here and preach that they know best, yes they have been part of the sucess of TVR but like any other business it belongs to the shareholders of TVR, who can make their own decisions about what to do.
davidy
He recouped that and more in the heyday of the Griffith and Chimaera and for the last few years has taken a reasonable 'salary'. Numbers available from Companies House.
If he wants to sell the business then thats his own business, good luck to him and I hope he gets what he wants for it. Most people are not in business for the love of it, but do want to realise some capital and some lifetime left in which to spend it in.
The company does not belong to TVR owners, many of whom come on here and preach that they know best, yes they have been part of the sucess of TVR but like any other business it belongs to the shareholders of TVR, who can make their own decisions about what to do.
davidy
girlracer said:
Hey, we've already got our cars, even if this is the end of TVR making new cars, the dealer/servicing network will still exist in some form, and the end result is we are suddenly driving cars that are even more rare and fast-approaching classic status. 
Just my optimistic 2¢ worth!
nice
Simon40 said:
PS would get a much better price (10 times plus), if he got the house in order before putting the thing up for sale.
I hardly think that having a PR rep who speaks his mind equates to TVR's house not being in order... Are you suggesting sacking Ben Samuelson will make TVR worth 150 million?!! Pull the other one!
tuscanmadness said:I have no information either way, but would not an official denial have
After speaking with HHC in Yorkshire about the rumour, they told me that having been in personal conversation with PW recently, It would seem PW has no intentions of selling...
been forthcoming if it were not true as it could be potentially damaging to deals and their trade?
tuscanmadness said:
After speaking with HHC in Yorkshire about the rumour, they told me that having been in personal conversation with PW recently, It would seem PW has no intentions of selling...
...or equally likely, he doesn't intend to tell them his confidential business. So that means absolutely nothing, then.
_dobbo_ said:
PS would get a much better price (10 times plus), if he got the house in order before putting the thing up for sale.
I hardly think that having a PR rep who speaks his mind equates to TVR's house not being in order... Are you suggesting sacking Ben Samuelson will make TVR worth 150 million?!! Pull the other one!
It couldn't hurt
Gaffer said:
Like I said on the other thread:
TVR has been "for sale" for years but no one has made Peter an offer he can't refuse.
TVR has not been sold as of this week/last week.
Claire
Hopefully that will conclue the amount of TVR For sale threads that keep reappearing
Thanks Claire
BB
Shedding a little more light....
www.autocarmag.com/News_Article.asp?NA_ID=208428
www.autocarmag.com/News_Article.asp?NA_ID=208428
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