Taxi Driver Online

Cab sales down after boom year

The alarms were ringing today after the manufacturer of London's iconic black cabs, often taken as a bellwether for the health of the capital's economy, warned today that sales in the first months of 2008 are sharply down from last year.

Taxi maker Manganese Bronze admitted today that its cab sales are usually the victim of any 'uncertainty in London's financial markets', adding that 'sales in the first quarter are below last year due to this uncertainty.'

Finance director Mark Fryer added: 'This year we have seen some exceptional volatility. Sales in January and February were poor but this may have been because customers were holding off for the new registrations as March was a near-record month. However, April is not looking so good again.'

The trading update took the gloss off strong results for 2007 for Manganese Bronze, which enjoyed sales in the year of 3100 cabs, second only to its best year of 2000 when disabled access was made mandatory for new models.

Last year's strong sales were due to the introduction of its latest model, the TX4, which saw Manganese report profits in the 17 months to the end of December of £5m and dividends in the period totalling 7.25p, up a fifth from the previous 12-month reporting period.

Manganese Bronze is to change irrevocably within the next two months as its joint venture in Shanghai starts producing its first prototypes for the Chinese market.

It plans to produce 20,000 cabs a year in Shanghai, half for the domestic market and half for export to the US, Thailand and Nigeria.

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IDFIMH

Mush on the radio said this morning that most of it's parts would be coming from China and put together in Coventry.

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IDFIMH

Could it be that potential owners have seen the problems with them on these pages, and said feck it get the E7 instead

Maybe / maybe not but don't hold back with your prejudices

CC

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

Sales are down for one simple reason. Over the last two years London drivers have been dumping their old Fairways, as opposed to having them converted with a Euro 3 system.
These are now complete (as of June this year) so the rush to buy a new taxi is finished. London accounts for the majority of LTI's sales.

They are still crap as you have found out

I'm suprised the BBC still employs the likes of Jeremy Clarkson with you around Skippy.

How many faults did your TX2 develop?

Mines fine.

You have got to be joking GBC? The London Taxi is a heap of shi*e


If LTI charged 15K a cab, I would say, hey, shi* happens but it's worth it, but for 30K+ - you need your head examined?


You would need to be completely barking to defend paying such a monetary figure?

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All animals are equal but some animals are more equal than others.
George Orwell, "Animal Farm"

When the venture first came to our notice we did say that the parts would end up over here we also wondered where the far eastern market was going to come from for these overpriced vehicles. At least we now know that 10,000 are earmarked for the Domestic Chinese market and a further 10.000 shared between America, Thailand and Nigeria.

If anyone believes a market can be found for these overpriced buckets of chite in Thailand and Nigeria then their optimism far exceeds their intellect.

Regards

JD

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Copyright notice © The contents of this post are copyright of JD and are not to be reproduced outside of TDO without written permission.

Mines fine, thank you for your interest Mr Skull.

I guess what counts is the amount of people who ride in the back, because it them who make a vehicle viable to purchase or not, and luckily down here, that's plenty.

A choice would be good, but I've survived with LTI for many years.

That heap of shi* you drive maybe viable down in London but you're still paying 15K over the odds .

"The amount of people who ride in the back" might pay the extra 15K but it's your as* in the saddle doing the work.

I wouldn't go banging any drums about it

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All animals are equal but some animals are more equal than others.
George Orwell, "Animal Farm"

I never bang drums Mr Skull, I'm far too South for any of that nowadays.

As I said, when it becomes financially unviable for me to drive a £35K Taxi, or ideed any Taxi, then I shall worry about it.
However even with the current media generated 'recession', I think I'll be fine.

Why LTI is doomed to failure in these third world countries.

Anyone who has travelled the world and seen third world economies in practice will realise the limits of their financial capabilities.

Take Nigeria for instance, LTI plan to sell around 3,000 vehicles to the upper class of Nigeria. They have to sell to the upper class because there is no half way house between upper and lower class.?

The only class between upper and lower, is peasant.

So where does LTI go from there?

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Copyright notice © The contents of this post are copyright of JD and are not to be reproduced outside of TDO without written permission.