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Dallas, Texas, US
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Saab increase pay for Board members as Swedish Debt Office circles
Fri, 19 Aug 2011Saab Meltdown gets closer It never rains, but it pours. And for Saab and Victor Muller it has been a year or more of almost unbroken storms, punctuated with just the odd ray of financial sunshine as Victor Muller combs the planet for investors to stake a claim in his chocolate teapot company. There has been no production at Saab of any consequence since April; many suppliers still remain unpaid despite substantial injections of cash from Chinese buyers; wages have not been paid and now, just to rub salt in the wound, it’s been revealed that board members received pay rises of up to 650 per cent in 2010.
MG6 Launch revives Morris Garages moniker
Sun, 22 Nov 2009The new MG6 gets badged 'Morris Garages'. Life has not been easy over the last few years for MG. Or should I say what remains of MG after the debacle of the ‘Phoenix Four’ who took over MG Rover from BMW for a token £10 – and £425 million in working capital to boot – and set about selling off the rights to MG to the Chinese in the form of SAIC (Shanghai Automotive Industry Corporation).
Lack of history loses 20% of a car’s value
Mon, 08 Sep 2014A CAR being sold without a full service history is worth one-fifth less on average than a car with a fully stamped service book. This amounts to an average of £1464 for the typical used car sold in the UK with a price of £7706. A study by Kwik Fit found buyers expect a 19% discount for cars with incomplete or no service history, which is costing the used car industry £10 billion per year in lost revenue.