New TVR still under wraps! (Vol. 2)
Discussion
If finance is a problem, well its kind of strange that it would be, surely any body embarking on a project such as this would have the funding in place or have planned to have the funding in place by now. You don't build the foundations for house without funding for the rest or indeed know what is going to built. Surely credit to New TVR, they wouldn't have punted cash on a prototype and then run around rattling a collection tin, would they?
Monkeylegend said:
Tyre Smoke said:
It has been discussed.
Those hardcore deposits either don't care about losing their money or see my first point above.
They will be offered a free weekend stay for two in a country club/hotel of their choice within a 5 mile radius of Griffith House when the whole thing goes belly up.Those hardcore deposits either don't care about losing their money or see my first point above.
Not bad for £2.5k.
Those who paid £5k get two weekends.
No deposit holders (linked to TVR) who write positive comments on Facebook get a helicopter ride.
Tyre Smoke said:
It has been discussed.
Those of us without deposits down (and no intention of doing so) were vilified as just stirrers on this thread.
Those who had deposits and have got a bit wobbly seem to have pulled them quietly (LE deposits now available)
Those hardcore deposits either don't care about losing their money or see my first point above.
That's it in a nutshell.
Not sure I 'quietly' pulled my deposit - I think as was pretty vocal about my disappointment Those of us without deposits down (and no intention of doing so) were vilified as just stirrers on this thread.
Those who had deposits and have got a bit wobbly seem to have pulled them quietly (LE deposits now available)
Those hardcore deposits either don't care about losing their money or see my first point above.
That's it in a nutshell.
No regrets though; especially in the light of absolutely no further information or tangible progress since I said 'ah'm oot' ...
Maybe the plan always was to get enough financing to go to Le Mans, the idea being that success there would fuel further financing for production proper. From the start the whole project has had a strong emphasis on Le Mans and this is where I think Les’s interests lie, first and foremost.
FarmyardPants said:
Maybe the plan always was to get enough financing to go to Le Mans, the idea being that success there would fuel further financing for production proper. From the start the whole project has had a strong emphasis on Le Mans and this is where I think Les’s interests lie, first and foremost.
He took some stickers to Lemans Madest Mike said:
If finance is a problem, well its kind of strange that it would be, surely anybody embarking on a project such as this would have the funding in place or have planned to have the funding in place by now. You don't build the foundations for house without funding for the rest or indeed know what is going to built. Surely credit to New TVR, they wouldn't have punted cash on a prototype and then run around rattling a collection tin, would they?
It is sad, but historically the UK has a very long list of hopeful sports car makers, who found the business much too difficult.
Might this be a parallel?
Whether this published article is true who knows, but they appear to suggest that yet another new startup sports car maker, might have run into trouble and has not paid a bill.
https://uk.finance.yahoo.com/news/aston-martin-tho...
The latest news item on the very glossy website, was dated 2017.
Do you think the cars displayed in front of the factory building, look very similar to a Lotus Elise?
Longtime lurker on this thread and as so much has been posted, apologies if missed answers to my thoughts below.
1) If I was Gordon Murray I would be really cheesed off. The iSTREAM system was supposed to get cars more effectively to production. He got a car design up and running, as far as I can see, and the last cash intensive part has failed, again as far as I can see.
2) I did a tiny amount of car work for Martin Overington. When I heard he had become a director, I thought brilliant, someone who can get something done. He really comes across as business minded and a car nut. He uses a vintage Bentley to tow stuff. What is not to like? Cannot believe he is happy with this situation.
3) We are heading to a recession. The car is three years old already. There is the new Corvette in its target price range. Two million to be repaid in a couple of years to Wales. No production staff, prototypes up and running or even a finished building. Have they even advertised for Welsh staff? Genuinely. The project is dead. The people in charge of TVR just need to find some balls and tell everyone.
4) Above might be harsh, but once the true situation is known within a couple of weeks it will be history and Les et al can move on doing their racing or whatever unshackled from this nightmare of their own making.
5) Aston Martin are equally in the excrement. Which will need a cash injection first?
Just my view.
1) If I was Gordon Murray I would be really cheesed off. The iSTREAM system was supposed to get cars more effectively to production. He got a car design up and running, as far as I can see, and the last cash intensive part has failed, again as far as I can see.
2) I did a tiny amount of car work for Martin Overington. When I heard he had become a director, I thought brilliant, someone who can get something done. He really comes across as business minded and a car nut. He uses a vintage Bentley to tow stuff. What is not to like? Cannot believe he is happy with this situation.
3) We are heading to a recession. The car is three years old already. There is the new Corvette in its target price range. Two million to be repaid in a couple of years to Wales. No production staff, prototypes up and running or even a finished building. Have they even advertised for Welsh staff? Genuinely. The project is dead. The people in charge of TVR just need to find some balls and tell everyone.
4) Above might be harsh, but once the true situation is known within a couple of weeks it will be history and Les et al can move on doing their racing or whatever unshackled from this nightmare of their own making.
5) Aston Martin are equally in the excrement. Which will need a cash injection first?
Just my view.
Edited by Unsorted on Thursday 15th August 22:45
I was talking to someone yesterday (totally unrelated) about funding projects and apparently it is common to get enough cash together for a big undertaking (in this case a new stand at a stadium) to get it moving, and then 'budget' into the costs future revenue to finish it off/balance the books.
Clearly in the case of Newco, someone didn't check their workings properly and they have run out of working capital.
Build it and they will sell. Except you have to build it first.
Clearly in the case of Newco, someone didn't check their workings properly and they have run out of working capital.
Build it and they will sell. Except you have to build it first.
Tyre Smoke said:
Build it and they will sell. Except you have to build it first.
Maybe in small numbers but I would be surprised if those numbers will be anywhere close to what would be needed to sustain the medium/long term financial future of the company.I think it will be at best a one model venture then closure if it ever gets off the ground which is looking more and more unlikely as time passes.
Tyre Smoke said:
I was talking to someone yesterday (totally unrelated) about funding projects and apparently it is common to get enough cash together for a big undertaking (in this case a new stand at a stadium) to get it moving, and then 'budget' into the costs future revenue to finish it off/balance the books.
Clearly in the case of Newco, someone didn't check their workings properly and they have run out of working capital.
Build it and they will sell. Except you have to build it first.
There's a rumour floating around about a change from an OEM supplier that has supposedly forced an electronics redesign. It may be the cupboard is bare to pay for the redesign.Clearly in the case of Newco, someone didn't check their workings properly and they have run out of working capital.
Build it and they will sell. Except you have to build it first.
A friend of mine who deals with very large scale projects has this to say about budgeting: "remember, the first 80% of the work will take the first 80% of the time and the first 80% of the money; the second 80% of the work will take the second 80% of the time and the second 80% of the money." I've found this to hold surprisingly true over many years.
Judging by the Welsh Government's statement last year, the cupboard was already bare by October and new investment required. Perhaps they only budgeted for 100%?
skwdenyer said:
A friend of mine who deals with very large scale projects has this to say about budgeting: "remember, the first 80% of the work will take the first 80% of the time and the first 80% of the money; the second 80% of the work will take the second 80% of the time and the second 80% of the money." I've found this to hold surprisingly true over many years.
Judging by the Welsh Government's statement last year, the cupboard was already bare by October and new investment required. Perhaps they only budgeted for 100%?
I would agree if only I could understand Judging by the Welsh Government's statement last year, the cupboard was already bare by October and new investment required. Perhaps they only budgeted for 100%?
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