Fleet News

MG Rover all set to break even in 2002

MG Rover is on track to break even next year after recording losses of £254m for the eight months to December 31 last year. The loss was less than half the amount recorded for the full year from 1999-2000 and the company says it is ahead of its business plan.

Chief executive Kevin Howe said: 'Our 2000 performance was better than the business plan and represents a major step towards our target of overall business profitability. During the year we have made progress in many areas. We reduced by more than half the operating loss of the business, consolidated our position on the Longbridge site, entered new overseas markets and introduced five new models.'

Turnover for the period was £961 million, while sales reached 111,800 - 900 units ahead of its target. A decision is expected within weeks on plans for a medium car platform to replace the Rover 25 and Rover 45, and whether the company will use a partner to develop the platform or adapt its Rover 75 platform.

First Drive of MG Rover's new Z-cars in Roadtests

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