Monday 25th March 2002

TVR Worldwide

Financial Times reports on TVR's talks with US distributors

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[jpf]

Every time I'm ready to throw in the TVR towel and get something else, TVR finds a way to keep me sitting on my hands. Penske has the tools to do the job right, too.

I hope they come to mutually agreeable terms because I think this could mean big things for both Penske and TVR.

[IPAddis]

From ft:

quote:
The group [TVR Engineering] ended 2000 with just £3,154 "cash at bank and in hand" and an overdraft of £1.45m.

Expensive business developing new models?!

[tasmin1]

I hope that mr. Wheeler knows what he is doing. It happened before that taking a big step results in a dramatic and unwanted ending.
I suggest they work on a LHD Tamora and Tuscan and resume export to continental Europe. It is nice to stay exclusive and this will be a safer way forward to my opinion.
Hopefully TVR lives forever as they deserve that!

leon

[daved407]

It sounds good that the cars will be more widely available. Which will certainly mean some awesome extras being available but shouldnt they get their act sorted in the UK first, then aim for world domination

[mel]

quote:
The group [TVR Engineering] ended 2000 with just £3,154 "cash at bank and in hand" and an overdraft of £1.45m.

Sounds like good accounting (well apart from the O/D) nobody wants to make a profit on paper because the bastards just tax that.

[Griff2be]

erm - there's a big difference between taxable profits, which as the name suggests, are what a company pays tax on, and the cash position at the end of the year. Which is just a balance. Or in this case a negative balance.

However, I am happy to concede that the TVR Engineering Group made a loss before tax in 2000 of £734,000, and therefore didn't pay any corporation tax in that year.

Don't you just love a pedant?!!!

[EdT]

...as long as he drives fast....

Ed

[simpo one]

TVRs in the USA? Sounds familiar. There'll be lots of hype, lots of interest, lots of orders, but then TVR will fail to meet demand and the cars they do manage to supply will be rejected by their American owners on quality grounds...

Remeber, you saw it here first!

[ikey]

I am pretty confident that the TVR's that would make it here would have less quality problems than the cars previously made.

TVR has made (lets say) 2,000 Tuscans and the average Tuscan has put on 15,000 miles. That's 30 million miles of free development compliments of the UK TVR owners.

I just wish there was some information regarding TVR's progress on this front!

[Raskol]

Ikey, I suspect you are wildly optimistic about both production and mileage of Tuscans. I think you will find that total production thus far is rather less than 1000 cars. Very few will be anywhere near what you think as an average mileage: most are used as "Sunday" cars and will only have covered 3000 or 4000 miles from new. Mine has done 20000 and I think I've only heard of 2 which have covered a higher mileage.

[jpf]

Whatever happenned to Penske?

[harley]

95% of TVR production is for the UK? What in the tarnation is that all about????

[tvrgaas]

harley said: 95% of TVR production is for the UK? What in the tarnation is that all about????

Yes quite, why do we allow 5% to go abroad to Johnney Foreigner!

oh you're from the US, I think I got the wrong sense of your post. I think 5% go to Germany

David

I spent summer of 95 in Munich - with my S

[jpf]

Where does the Malaysia production go and do they still make Chimera's only?

[fizz]

Hey, all that talk about TVR dealers in the UK led me to wondering about TVR WORLDWIDE.

Any for the Western hemisphere?