carl

Apparently to a Russian investor.
http://www.pistonheads.com/tvr/default.asp?storyId=8854

chiark

well, there goes the largest uk-owned remaining car business.

I can only hope that this is ultimately good for the brand, but worry about TVR losing its individualistic approach

stu_5

How many times has TVR been sold over the years now?

Quite a few isnt it?

chiark

Couldn't tell you... And you're probably right about MG - I was living in the past

This could be excellent news for TVR, or it could be the beginning of the end. It all depends on how much the new owner wants to do with the company, and where he wants to take it. I do really hope that the individuality and quintessential British appeal lives through the sell-out. The esoteric approach that the cars have taken is not exactly revolutionary, but the roads would be a duller place without 'em

Perhaps this chap has commercial sense and will start to market the cars in other countries, which is a brave new world for TVR. Perhaps it is all positive, as rumours suggest that TVR has been experiencing some negative cash flow issues recently. You've got to assume that he's buying the company because he a) likes its products and b) sees potential to make money out of this.

Hopefully point a will mean that he doesn't tinker dreadfully...

i still lust after these cars
Nick.

SPEN555

Just hope the russian does not want to put a Lada engine in a TVR!

Now that would be $hite.

carl

Yes, but it's been pretty stable in the Peter Wheeler era (I guess late 1980s onwards). And I think it's always been owned by Brits.

Petem95

They still have Peter Wheeler on board, so this could be a good move.

I expect the big problem they have is finding the money to make the cars meet crash safety and emissions requirements.

If they could meet these requirements, then surely they'd be onto a complete winner in the states where they love this sort of car, and fuel costs arent a problem.

ProperCharlie

23 year old son of a russian crimin... sorry i mean "entrepreneur".

not sure that this is the safest pair of hands for TVR to be in. Still - i don't really blame wheeler - he saw an opportunity to take his money. i'd have doen the same.

i hope it works out down in blackpool.

Dracoro

To sell, what TVR really need to do is make their cars reliable and well built. As much as I like them, this puts me off (as well as the servicing costs!). A coupla years ago, I came close but bought an S2000 which was a far wiser decision, however if the tvr was a bit cheaper to run and reliable I possibly would have had that tvr. AND there must be many people like me who never bought a TVR.

Good luck to them, hopefully we'll have a UK-ish sports car manfacturer who can really take the battle to porsche etc.

what would scooby do

$hite but reliable

B0DSKI

iTrader: (17)

Proberly been bought for a run around for the Chelsea players when they are up north, V generous that Abramovic!!!

carl

Actually there's a cheap Maserati Biturbo for sale on Pistonheads. I was half tempted to buy it and drop an Isuzu diesel engine in

Still, the Russian buyout should increase the demand (and price) for my handbuilt (650 hours per car) "proper British" TVR

stockcar

build, relaibility and safety can only get better!!

carl

If only that were true
Skoda (OK, Czechoslovakian), Lada, Trabant (East German), FSO (Polish), ZIL, Zastava (Yugoslavian)...

BTW most of the TVRs with roofs are very good in a crash.

ProperCharlie

although to be fair, that isn't really very many of them, is it?

overall, build quality, reliability, safety, in fact pretty much every aspect of the TVR range has been leaping ahead over the last 10 years. I had an early '90s TVR so I know!

carl

Well, reliability was improving until they introduced the Speed 6 engine

jpmason33

The Tuscan Racing Team was sponsored by Chelsea this year........any connection?

ProperCharlie

yes - i'd heard that was a little problematic for some owners...

nice when it works, though.

carl

...if two too few cylinders

ALi-B

iTrader: (1)

Lets hope they glue/bolt the things together a bit better now

Still can here my conscience telling me to buy a Griffith...I know I want too

GRIFF007

..simply hasnt lived!!

Owned 8 years (lost £5k) - cost to date: fuel, oil, plugs, filters, tyres, relay, fuel pipes, fuse - thats about it! - Just about to treat her to a Koni rebuild all round

MPG: 20+ no problem

Sound and performance: I seriously believe there can only be a handful of production cars that come close under £100K

In my eyes there are very few cars as beautiful yet savage...

Peter Wheeler and Crew - 'you done good!'

David

carl

I obviously haven't lived then: I have a Cerb. 16 mpg is about my best -- the last tank was 12 I think
Damn those short trips

Still, it's as quick as a superbike and looks fantastic. Sounds pretty good once it's warm, too

I thought the consensus on suspension was the Nitron dampers, or the Avos if you want something cheaper.

Ralf

Quote:
Originally Posted by SPEN555
Just hope the russian does not want to put a Lada engine in a TVR!

Now that would be $hite.

$hite but reliable


NO!

shug

From today's Financial Times

TVR carmaker sold to Russian tycoon
By John Griffiths in London and Arkady Ostrovsky in Moscow
Published: July 27 2004 21:57 | Last Updated: July 27 2004 21:57


TVR, the British maker of wildly styled and fiendishly fast cars, has been sold to Nikolai Smolensky, 23, one of Russia's youngest millionaires and the son of a controversial tycoon whose banking empire collapsed during the 1998 financial crisis.


Mr Smolensky's father, Alexander, was one of the oligarchs who bankrolled the re-election campaign of former president Boris Yeltsin in 1996.

He was accused of shifting assets into other companies while leaving depositors in his SBS Agro bank with nothing after its bankruptcy. But he was never found guilty, denies any wrongdoing and later launched another bank, OVK.

TVR's 400-strong workforce were told on Tuesday that Nikolai Smolensky planned a substantial investment to take the Blackpool company into North America and other global markets.

Neither side would say how much Mr Smolensky has paid for a company whose giant-killing reputation exceeds its output of about 1,000 cars a year. Its last published accounts show a profit of about £400,000 in 2002.

TVR's employees had known that Peter Wheeler, a former North Sea oil engineer who bought the company 23 years ago, had been considering selling and had hoped it would go to an enthusiast. The new owner appears to fit the bill. Marketing director Ben Samuelson said: "He's a mad keen motor racing enthusiast who's driven loads of TVRs."

TVR fans will be relieved that Mr Wheeler will be staying on to oversee styling and engineering. He and his deceased spaniel, Ned, have become industry legends: Mr Wheeler for styling the best-selling TVR Tuscan on the back of a Marlboro cigarette pack; Ned for biting a chunk out of a foam model prototype, creating what became the front light apertures of the TVR Chimaera.