This Is Money states that iconic British car maker MG Motor UK will this week announce astonishing results, confirming its recovery from near collapse and providing yet another sign of Britain’s resurgent motor industry.
The group, now Chinese owned, will proudly reveal that sales surged to a record high in the first quarter of 2015.
At the same time the company is set to launch its new MG6 model and it is preparing to open a £30 million flagship showroom in Piccadilly in the heart of the capital.
The news is a far cry from events ten years ago when manufacturer MG Rover was forced to call in the receivers after it catastrophically ran out of money as hopes of a £100 million bridging loan from the Government evaporated.
MG Rover’s 26,000 workers found themselves instantly unemployed and the ramifications over pay, pensions and who was at fault continue to this day.
However, this week there will be a very different atmosphere at the Longbridge site in Birmingham, run by MG Motor UK, which emerged from the ashes of MG Rover.
Last year, MG was the fastest-growing car make in Britain, selling 2,500 cars compared with just several hundred in 2013. The company expects this rate of growth to continue.
Read more at This Is Money.