Archive : £39 Million Losses Hit Plans To Sell Off Troubled Leyland

Carole Nash Classic Insurance Specialists

DAILY EXPRESS
By David Benson
Motoring Editor

British Leyland lost £39-5 million last year , little comfort to the government determined to privatise the huge car, bus and lorry making company. But the directors claimed last night that their operating losses were still “significantly ” better than the year before when BL lost £66-5 million.

Austin Rover recorded losses of £6 million in the company’s annual report compared to £26 million in 1984.  Sales are up 14 per cent worldwide , 479,500 vehicles a year.

Austin Rover’s accumulated losses have now reached £966 million since the Government stepped in to save the company in 1974.
Losses were also recorded by Leyland Bus and Truck division at £52 million , down on the £61 million loss in 1984.  But Land-Rover , subject of the disputed takeover bid by GM ,made £10 million , £8 million up on 1984.

Profits of £ 6 million were also recorded by the Unipart spares division , but this is down £8 million.

Keith Adams

Keith Adams

Editor and creator AROnline at AROnline
Created www.austin-rover.co.uk in 2001 and built it up to become the world's foremost reference source for all things BMC, Leyland and Rover Group, before renaming it AROnline in 2007.

Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...

Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.
Keith Adams

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