Archive : Rover faces shake up in cash crisis

Carole Nash Classic Insurance Specialists

DAILY EXPRESS
ROVER FACES SHAKE UP IN CASH CRISIS

Rover ‘s tough new chairman Graham Day is set to announce a massive shake-up in the management of the ailing car and truck manufacturer.  The state-owned group had been forecast to go into profit, but half-yearly results could reveal losses of more than £100 million.

Its Austin Rover division has lost more than £60 million In the first six months of the year and It is known that Leyland truck s are deeply in the red.  Biggest disappointment for Mr Day and the Government has been the performance of the Austin Rover division, headed by Harold Musgrove.

Mr Musgrove, who started as an apprentice at Longbridge and was elevated to the chairmanship of ARG by Sir Michael Edwardes, has been criticised over the launch in July of the Rover 800 series . Despite collaboration with Honda, he brought the British version in nine months later than theirs, yet could produce only 1,500 cars for the dealers on launch.

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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