Top Track 100

When the Rover motor group was sold in May 2000, it was losing £2m a day. The German carmaker BMW handed it over for £10 to the Phoenix consortium of Midlands businessmen led by John Towers, a former Rover Group executive. Over the past three years, its management has introduced new models, including the Rover 75 Tourer and sporty MG saloons. It is developing cars with a Chinese company, and has continued its alliance with Tata, the Indian carmaker, which plans to produce a small car for the European market. The latest available accounts, for 2001, show sales of £1,697m, an operating loss of £187m and a workforce of 6,695. The company, now run by chief executive Kevin Howe, hopes the launch of a medium-sized car will lead to its first profit.

This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.

Company details
Year2003
Rank8
CompanyMG Rover
ActivityCar maker
LocationBirmingham
Sales £m*1,697
Profit £m*-187
Year endDec 01
Principal shareholdersManagement 50%, staff 25%, dealers 25%
Staff6,695
Founded1904
Websitewww.mg-rover.com

If applicable:

* Supplied by company † Annualised figure **Estimated