New TVR still under wraps! (Vol. 2)
Discussion
El stovey said:
Presumably it can’t just be mothballed as there must be increasing debt and loans etc to pay off?
The car is already fast becoming a dinosaur, its design 5 years or so old. Legislation is changing so quickly now that I doubt TVR will ever generate enough money to keep pace and produce a modern up to date car that meets all the legislative requirements, that has been properly tested and developed by next year in time for production in the third quarter.Speed limiters and breathalysers are now required for all new cars sold in 2021? amongst many other requirements. Imagine buying a TVR that won't let you drive above the speed limit without an annoying alarm beeping at you ever impatiently telling you to slow down.
Not sure whether a maker like TVR will be exempt from all this, but if not I can't see it ever getting any further than the one pre-production mule.
Its like groundhog day round here every week now
Monkeylegend said:
The car is already fast becoming a dinosaur, its design 5 years or so old. Legislation is changing so quickly now that I doubt TVR will ever generate enough money to keep pace and produce a modern up to date car that meets all the legislative requirements, that has been properly tested and developed by next year in time for production in the third quarter.
Speed limiters and breathalysers are now required for all new cars sold in 2021? amongst many other requirements. Imagine buying a TVR that won't let you drive above the speed limit without an annoying alarm beeping at you ever impatiently telling you to slow down.
Not sure whether a maker like TVR will be exempt from all this, but if not I can't see it ever getting any further than the one pre-production mule.
Its like groundhog day round here every week now
The car will no doubt be tweaked one way or the other if it ever happens. That and the front appearance arent the issue and probably never were - its the funding for the company to move forward to starting production of something -anything- thats the critical path.Speed limiters and breathalysers are now required for all new cars sold in 2021? amongst many other requirements. Imagine buying a TVR that won't let you drive above the speed limit without an annoying alarm beeping at you ever impatiently telling you to slow down.
Not sure whether a maker like TVR will be exempt from all this, but if not I can't see it ever getting any further than the one pre-production mule.
Its like groundhog day round here every week now
PH: 'We dont like the front end'
Les 'Oh, really?' (thinking: I havent even got the funding to produce a f
king milk float yet)V6 Pushfit said:
The car will no doubt be tweaked one way or the other if it ever happens. That and the front appearance arent the issue and probably never were - its the funding for the company to move forward to starting production of something -anything- thats the critical path.
PH: 'We dont like the front end'
Les 'Oh, really?' (thinking: I havent even got the funding to produce a fking milk float yet)
Aren’t they linked though? Better looking car means better publicity and more orders and more confidence in the project from investors etc PH: 'We dont like the front end'
Les 'Oh, really?' (thinking: I havent even got the funding to produce a f
king milk float yet)Same with new regs. Investors look at TVR and look at new regs and think, no way this lot will be able to deal with those regulations on that car. I’m out etc
Pupp said:
That seems pretty clear cut. TVR have been unable to secure private sector investment and that is the sole cause for the delay. I hope remaining depositeers get their money back before the receivers move in (except Woody of course, he doesn't care about a piffling 5k).
El stovey said:
Aren’t they linked though? Better looking car means better publicity and more orders and more confidence in the project from investors etc
Same with new regs. Investors look at TVR and look at new regs and think, no way this lot will be able to deal with those regulations on that car. I’m out etc
They had a full order book and aren’t failing due to the cars front appearance.Same with new regs. Investors look at TVR and look at new regs and think, no way this lot will be able to deal with those regulations on that car. I’m out etc
V6 Pushfit said:
El stovey said:
Aren’t they linked though? Better looking car means better publicity and more orders and more confidence in the project from investors etc
Same with new regs. Investors look at TVR and look at new regs and think, no way this lot will be able to deal with those regulations on that car. I’m out etc
They had a full order book and aren’t failing due to the cars front appearance.Same with new regs. Investors look at TVR and look at new regs and think, no way this lot will be able to deal with those regulations on that car. I’m out etc
Clearly they opened the order book to a big fanfare and a 50% discount for car club members to get a bulging order book to tout around looking for private investment, they even sponsored a Rebellion or two. Clearly a company that was going places, right? Got the site for the plant, got the Welsh on board, what's stopping you investing in this iconic British sportscar brand? We are even going to reintroduce a one make series to race them.
Don't worry, the investors will be breaking the doors down on Monday...
Five years later and they are still short of the money needed, with little hope of securing it by touting around an out of date, not road legal, ugly prototype. There is no other conclusion to draw, as deposit holders pull out, that it's over.
Tyre Smoke said:
Five years later and they are still short of the money needed, with little hope of securing it by touting around an out of date, not road legal, ugly prototype. There is no other conclusion to draw, as deposit holders pull out, that it's over.
There's quite a list of shareholders now holding several million £s of paid up equity, as allocated in May. Perhaps they didn't receive the memo you're misunderstanding before dusting off their cheque books.Suspect rumours of imminent demise are premature, albeit the delays are clearly frustrating stakeholders.
The £3,059,000 raised in October might come in handy should the Welsh Ministers call in their loan before 2021. Looking at the list of shareholders, which includes the Welsh Ministers with 100,000 ordinary shares, there are connections between companies and those named e.g. Mr Macadam is a director of Riseden Ltd. And naturally the main directors of TVR have all bought shares.
Much now depends on what TVR has promised the Ministers that investment will be in place in Q1 next year. If it turns out to be another empty promise I think it would be game over.
Much now depends on what TVR has promised the Ministers that investment will be in place in Q1 next year. If it turns out to be another empty promise I think it would be game over.
unrepentant said:
That seems pretty clear cut. TVR have been unable to secure private sector investment and that is the sole cause for the delay. I hope remaining depositeers get their money back before the receivers move in (except Woody of course, he doesn't care about a piffling 5k).
I had my5k deposit returned a while back... at this point, I can't imagine spending 90k on any car in the future.. I was seriously interested in an AMR manual new vantage..(150k) then they wanted to charge me 3.5k for the same wheels, in black.. thought wtf... and thought the whole thing was silly money.. I now have a 30k mustang GT convertible, 30k+ LS3 V8 T50C and my 20 year old Griffith (from new) - All added up, probably worth the price of the new Griffith, if it ever happens.. Time may have moved on.. I would still like to sit it hit the road though (though hopefully lighter than the near 1250-1300KG mentioned once or twice (originally, the'd said 1150kg) BJWoods said:
I had my5k deposit returned a while back... at this point, I can't imagine spending 90k on any car in the future.. I was seriously interested in an AMR manual new vantage..(150k) then they wanted to charge me 3.5k for the same wheels, in black.. thought wtf... and thought the whole thing was silly money.. I now have a 30k mustang GT convertible, 30k+ LS3 V8 T50C and my 20 year old Griffith (from new) - All added up, probably worth the price of the new Griffith, if it ever happens.. Time may have moved on.. I would still like to sit it hit the road though (though hopefully lighter than the near 1250-1300KG mentioned once or twice (originally, the'd said 1150kg)
I still have my 2.5k deposit.. not that I don't "care", it's just a gamble. with long odds now.. 2.5k is nothing compared to depreciation of the Mustang GT convertible(bought used) will likely suffer over next few years, but don't "care" about that either.
The letter just confirms what many of us thought here at the beginning of the year. Newco don't have the money to get the car to prototype or approval stage and are still hanging on to the hope an investor will materialise.
Every week that goes past with no progress, and no updates is a week closer to the inevitable. An investor would be mad to pump money into a small volume producer these days and expect to make a profit.
A depleted order book, a dated looking car, stricter regulations and the rise of electric and hybrid vehicles, just makes me think more than ever now, that the new Griffith is dead before it has turned a wheel on the road. The game has moved on significantly in the last year.
Personally I'd stick the money into a Bullitt Mustang, have the v8 soundtrack, get in before all the nanny state electronics take over, and know that should anything go wrong, that the manufacturer will still be in business in six months time.
Every week that goes past with no progress, and no updates is a week closer to the inevitable. An investor would be mad to pump money into a small volume producer these days and expect to make a profit.
A depleted order book, a dated looking car, stricter regulations and the rise of electric and hybrid vehicles, just makes me think more than ever now, that the new Griffith is dead before it has turned a wheel on the road. The game has moved on significantly in the last year.
Personally I'd stick the money into a Bullitt Mustang, have the v8 soundtrack, get in before all the nanny state electronics take over, and know that should anything go wrong, that the manufacturer will still be in business in six months time.
BJWoods said:
I still have my 2.5k deposit.. not that I don't "care", it's just a gamble. with long odds now.. 2.5k is nothing compared to depreciation of the Mustang GT convertible(bought used) will likely suffer over next few years, but don't "care" about that either.
Ditto - There's obviously some funding issues but anyone thinking the deposits are relevant to TVR's success in the long term doesn't understand costs of business. Deposits come to very little in real terms when all added up. Similarly, the front end - I have no major issue with it (some of the inside worried me more originally) but comments about being "5 years out of date" are fascinating when looking at brand new Supra thread where I don't see anyone saying that design is 'old fashioned' when it's really not that different to the TVR's! Fingers crossed things work out but the putting the deposit down originally was always going to be punt and although I'd rather not lose it, it's nothing compared with depreciation on my Trackhawk or any other car I'd be buying new or near new.Just how many of the critical folk on here actually have a stake? No issue with freedom of speech, just seems funny how hung up some are on what is/isn't being achieved
https://www.linkedin.com/posts/cornhill-capital_ro...
Pello Capital announced yesterday that they are working with TVR.
There was also a new Ceo by the name of Jim Berriman started this month. Probably a condition of investment. He seems to have a lot of automotive experience judging by his LinkedIn.
Tvrs last chance probably. Wait for an overly whimsical update.
Pello Capital announced yesterday that they are working with TVR.
There was also a new Ceo by the name of Jim Berriman started this month. Probably a condition of investment. He seems to have a lot of automotive experience judging by his LinkedIn.
Tvrs last chance probably. Wait for an overly whimsical update.
crosseyedlion said:
https://www.linkedin.com/posts/cornhill-capital_ro...
Pello Capital announced yesterday that they are working with TVR.
There was also a new Ceo by the name of Jim Berriman started this month. Probably a condition of investment. He seems to have a lot of automotive experience judging by his LinkedIn.
Tvrs last chance probably. Wait for an overly whimsical update.
This is the chap. Best of luck to him... Pello Capital announced yesterday that they are working with TVR.
There was also a new Ceo by the name of Jim Berriman started this month. Probably a condition of investment. He seems to have a lot of automotive experience judging by his LinkedIn.
Tvrs last chance probably. Wait for an overly whimsical update.
"After taking a degree in electromechanical engineering, Jim started his career at Land Rover working on new vehicle programmes in the UK and Germany.
Asked to move into BMW Group in Munich, he took responsibility for supplier quality management during the relaunch of Rolls-Royce Motor Cars and then worked directly for the Chairman/CEO on strategic business projects.
This led to global product management, dealer training and marketing leadership roles, before Jim moved into the data and digital transformation sector.“
http://berchester.com/
crosseyedlion said:
crosseyedlion said:
https://www.linkedin.com/posts/cornhill-capital_ro...
Pello Capital announced yesterday that they are working with TVR.
There was also a new Ceo by the name of Jim Berriman started this month. Probably a condition of investment. He seems to have a lot of automotive experience judging by his LinkedIn.
Tvrs last chance probably. Wait for an overly whimsical update.
This is the chap. Best of luck to him... Pello Capital announced yesterday that they are working with TVR.
There was also a new Ceo by the name of Jim Berriman started this month. Probably a condition of investment. He seems to have a lot of automotive experience judging by his LinkedIn.
Tvrs last chance probably. Wait for an overly whimsical update.
"After taking a degree in electromechanical engineering, Jim started his career at Land Rover working on new vehicle programmes in the UK and Germany.
Asked to move into BMW Group in Munich, he took responsibility for supplier quality management during the relaunch of Rolls-Royce Motor Cars and then worked directly for the Chairman/CEO on strategic business projects.
This led to global product management, dealer training and marketing leadership roles, before Jim moved into the data and digital transformation sector.“
http://berchester.com/
Gassing Station | General TVR Stuff & Gossip | Top of Page | What's New | My Stuff