News

Cab maker's buyer queue

Time 10:37 am, October 31, 2012

THE fate of black cab maker Manganese Bronze may be rosier than expected.

Currently under the control of PricewaterhouseCoopers, the administration firm reports that buyers have been queuing up to take the taxi producer off its hands – something that should cheer up Manganese Bronze’s 277 UK employees, 100 of which are dealer-based.

‘We have immediately commenced discussions with an encouraging list of UK and International interested parties,’ said PwC’s Matthew Hammond, ‘and would encourage any further interested parties to contact us as a matter of urgency.’


Manganese Bronze’s sales have been in decline for the last few years, with expensive warranty costs and a recall earlier this month finally pushing them into administration.

‘The culmination of several issues led to the Group being placed into administration,’ said a release by PwC. ‘The Group has been making losses for four years due to a combination of poor UK sales, supply chain issues, and high warranty costs.’

It’s not understood whether further tie-ins with Chinese manufacturer Geely may be on the cards – with the company already producing versions of the TX4 in Shanghai.

With taxi rivals like Nissan and Toyota providing newer, more fuel efficient rivals though, it may be some time before the famous London taxi is truly back on top form.


Jon Reay's avatar

Staff Writer Jon is one of the Car Dealer team's newest members. You can also find him contributing to AOL Cars.

More stories...

Advert
Server 190