Fleet News

Rover to start trading in Euros

ROVER is to start trading in Euros at the beginning of next year - although showroom prices will continue to be quoted in Sterling. The manufacturer has told all its major suppliers - more than 80% of whom are British - that it expects them to be capable of handling their business in Euros by the start of 1999.

At a conference of 350 of Rover Group's strategic suppliers, purchasing director Jim Robinson said it was important they kept pace with the company's own programme of change - even if the UK is not involved in the first wave. 'As a major exporter into Europe, the Rover Group is an enthusiastic supporter of the single currency and in favour of the UK's participation at the earliest opportunity,' said Robinson.

'However, regardless of the UK position, with mainland Europe accounting for a third of our total sales and about 15% of our material purchases, it will have a significant impact on our business. Both ourselves and our suppliers should have the capability to operate in Euros.' Rover's decision is based on the assumption that most of Rover's European markets will join the single currency on January 1, 1999, but UK car prices will continue to be quoted in pounds until Britain joins EMU.

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