Chinese steering fault forces taxi recall.

[G-CPTN]

http://www.bbc.co.uk/news/business-19927400

http://www.telegraph.co.uk/finance/n...don-taxis.html

They were already in deep doo-doo:-
http://www.telegraph.co.uk/finance/n...-accounts.html

the first seven months of the year has been "difficult and remains challenging, with the group continuing to trade at a loss".

http://www.telegraph.co.uk/finance/n...2.6m-loss.html

Manganese Bronze is 20pc owned by Chinese car group Geely, as well as switching production of the black cab to China.

This might just finish them off . . .

[coastie]

I was just wondering if I could post that on here or not. Thanks for saving me the concern!

[G-CPTN]

Manganese Bronze have elected to go into administration, having failed to secure ongoing finance.

http://www.bbc.co.uk/news/business-20031436

The company – which manufactures the cabs in China – employs 288 people in Coventry.
Manganese's chief executive, John Russell, had said the group needed several million pounds a month to stay afloat.
Manganese has failed to turn a profit since 2007.
The company has faced growing competition after cab drivers were given permission to use the Mercedes Vito, breaking Manganese's monopoly.
Japanese carmaker Nissan is also working on a version of the black cab.

From (and more at):- http://www.guardian.co.uk/business/2...administration

[G-CPTN]

http://www.london-taxis.co.uk/new

Works out at £31,526.39 (including servicing) over four years.

£7881.60 per year seems quite reasonable?

£150 pw £21.58 per diem.

Of course you need fuel and insurance (and VED) and London Inspections . . .

[G-CPTN]

http://www.bbc.co.uk/news/uk-england...shire-20039512

[G-CPTN]

The situation deepens:- http://uk.reuters.com/article/2012/1...89U18Z20121031

[G-CPTN]

http://www.bbc.co.uk/news/business-20160247

[G-CPTN]

http://en.wikipedia.org/wiki/Manganese_Bronze_Holdings

http://en.wikipedia.org/wiki/TX4

[G-CPTN]

A solution has been found to a steering fault affecting up to 400 taxis.
"The company's employees will be part of a massive effort to begin fitting the new UK-supplied steering box to the recalled fleet within the next 48 hours."

From (and more at);- http://www.bbc.co.uk/news/uk-england...shire-20349949

[G-CPTN]

The Coventry based black taxi manufacturer LTI has been sold to the Chinese car maker Geely for £11.4m.
The deal includes the "business and the principal assets" of Manganese Bronze Holdings (MBH), the manufacturer of the London cabs.

From (and more at):- http://www.bbc.co.uk/news/business-21295441