Fleet News

Bright future for MG Rover, says chief exec

MG ROVER is well on the road to recovery, according to chief executive Kevin Howe. Speaking at the launch of the new MG range he said the company was continuing to meet its business plan targets and is looking forward to a bright future.

Howe said: 'The MG Rover Group is very different from the sprawling British group that BMW owned and now comprises 5,500 dedicated, well-trained and committed people - all of whom now have a genuine stake in the business with the recent share allocation announcement. Our sales plans are prudent and are set against a pragmatic cost base. The business plan is now in place and it requires no external financing to fund the company.

'We are now putting in place a series of retail finance agreements with major financial institutions, such as First National Finance. This is something all car companies do to ensure efficient retail and wholesale finance is available for its dealer networks.'

He also pointed out that MG Rover now had control over its parts business and has signed a 10-year partnership with Caterpillar for parts logistics. During 2000, MG Rover opened up new markets in Sweden, Norway and Australia and met its production, costs and sales targets every month. Howe added: 'Our company name now states what we do - we design, produce and sell products for two internationally renowned British automotive brands, MG and Rover.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee