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The Birmingham Post - United Kingdom; Mar 9, 2002 BY PHILIP WILLIAMS

MG Rover will make close to 200,000 cars this year and break into the black for the first time, chairman John Towers confirmed yesterday. Mr Towers, who carried off the buyout of the company from *** in 2000, said it would be driving out of the red by the end of the year for the first time since 1994, when *** bought the company from BAe.

'We are confident that we will now break even by the end of the year. It would be the first time sonce 1994 when *** bought Rover,' Mr Towers said. 'We are still losing money at present, but the first year was a better financial position than we anticipated and I believe we will be trading in the black by the end of 2002.

'I would then envisage a quite small profit next year. You would like it to be greater, but it has been hard work and difficult for us since May, 2000.'

Mr Towers said good cash flow was more important to the company now than profits and that it would build an anticipated 185,000 to 190,000 cars this year, in line with forecasts.

He said sales would be split into about two thirds Rover and a third MG following the introduction of four MG models and the new Rover 75 estate last year.

He also said the replacement for the Rover 45 with another medium family saloon was on target for late 2004. A concept version of the car was on display at the Geneva Motor Show this week.

Rover sidestepped detailed comment yesterday on talks it has had with the Indian car and lorry maker Tata.

Reports from the Geneva Show suggested Tata, whose UK import operation is based in the Midlands, wanted to have its small Indica saloon built from kits at Longbridge and distributed through Rover's dealership network.

They said Tata wanted the car badged Rover and sold as an entry level Rover product.

Rover said yesterday that it had been in talks with several possible partners, but that nothing had been decided.
 

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fantastic news mr rock.
MG sales at 33.3% of total output is more than they originly stated (25%).
could any of the new Zed owners tell us their MG comimsion numbers so we can get a rough idea of how many are built?
Its on a plate on the off side "b" post at seat level.
 

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the voice of reason!!!
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I bet that people at a certain German motor company are kicking themselves (or each other for all I care) at news like this!!!
 

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John

"I bet that people at a certain German motor company are kicking themselves "

It'd be nice to think so, but more likely they don't give a flying f*** - just like they didn't when they were in charge! Much too busy flogging over-rated saloons to poseurs who are prepared to hand over large amounts of their hard-earned to export jobs to the Fatherland.

Pete
 
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