1996 Rover MGF
Photo Information (Width: 340px, Height: 255px, Size: 8Kb)
|Engine size - Displacement - Engine capacity:||1800 cm3|
|Transmission Gearbox - Number of speeds:||Manual|
|Drive wheels - Traction - Drivetrain:||FR or RR|
|Price (out of date):||$5986|
1996 Rover MGF specs, Engine size 1800cm3, Fuel type Gasoline, Drive wheels FR or RR, Transmission Gearbox Manual
MG Rover was formed from the parts of the former Rover Group volume car production business which BMW sold off in 2000 due to constant losses and a declining market share. BMW had acquired the Rover Group from British Aerospace in 1994 and had since sold the Land Rover business to Ford, and split-off the MINI business as a new BMW subsidiary based in Cowley. MG Rover took control of the remainder of the former Rover Group volume car business, which was consolidated at the Longbridge plant.
Phoenix Consortium ownership
When BMW sold off its interests, MG Rover was bought for a nominal £10 in May 2000 by a specially-assembled group of businessmen known as the Phoenix Consortium. The consortium was headed by ex-Rover Chief Executive John Towers.
When Phoenix Consortium took over, their first loss for the last eight months of 2000 were reported to be around £400M. By 2004, the company had stemmed the losses to around £80M but never got to the chance to achieve a profit.
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