Manganese Bronze, one of the main manufacturers of London black cabs, has signed an agreement with electric vehicle maker Tanfield to make battery powered taxis that should hit the streets by mid 2009.

DIESEL NOW 130p

Interim results out on Thursday 31 July 2008.

BEWARE!
MNGS is collapsing with TAN.

All capital projects are suffering - folk can delay the purchase of a vehicle ( or Taxi-cab), and can stay with the one they have...for a bit longer - partly because it buys them a "better" vehicle.... like Digital Cameras...the delay is worth the wait!

I suspect that TAN's electric-vehicles will become a far greater % of their business ( past estimates 20%), since "green" issues are comparativly cheap....a vehicle is very visible and can be included in company presentations, adverts etc. etc. and there is a chance there will be savings over diesel. ( Also for TAN, their cherry-pickers may well be in decline for 2-years ++ as existing stock waers out.)

MNGS is attempting a rear-guard action - I understand Mercedes now has an approved vehicle ( complete with rear-wheel steer to achieve the necessary turning-circle demanded for London's streets). The question Taxi-drivers want to know the relative price of these vehicles....and the running cost.

I don't think TAN makes a "taxi" although it has some connection with Ford - for delivery-van bodies. . . ( possible electric Focus-max?)... so the link with MNGS is quite logical.
In London, I'm unaware of any "charging places" for taxis (or other electrics) - so this may be a downer on short-term sales.

I don't hold MNGS,
-but do have TAN, bought about twice current.

STILL GOING DOWN. I SEE 130p

"..In London, I'm unaware of any "charging places" for taxis (or other electrics).."

There are now 60 EV charging points in London, and nationwide there will shortly be 250 within shopping malls in various cities, rising to a thousand or so by the start of next year. These are mostly suited to private cars not taxis (taxis need a faster charge - thes mostly take an hour or more to provide a useful top-up. Useful to someone shopping for an hour or going for lunch).

pretty good news announced tonite, sp trashed all week yet the banks have granted a five year $35million facility to one of the groups divisions - one in the eye for the shorters and the doomsters who have been saying the business is terminal. sold to oblivion this week , monday should be interesting...

The recession is the Key when MNGS stop going down it will signal the beinging of the end of the recession.

Evil Knieval is shorting MNGS...Sell at 296p

good start to week.

nice day.

I AM SO HAPPY.

Blimey, that's a chart!

it has stopped going down.

my best day ever.

IT STILL GOING DOWN

What a chart!

Bad statement...


Interim Management Statement

22nd October 2008


Manganese Bronze Holdings PLC (''Manganese Bronze'' or the ''Group''), the leading manufacturer of the distinctive London taxi, today announces its interim management statement for the period 1 July to 21 October 2008.

Current Trading

Trading in the UK continues to be impacted by the uncertain macro economic conditions, as we previously flagged in our interim results in July. As reported then, the Board believes that demand for new vehicles in the second half of the year will follow the normal seasonal pattern and be below that of the first half. UK business conditions continue to be uncertain, which makes forecasting the level of demand for new vehicles more challenging. Overall vehicles sales for the nine months to the end of September are down 37.5%, to 1,628 vehicles versus 2,604 vehicles in the comparable period last year. This is due to a combination of uncertain economic conditions and the fact that the comparative period saw a near record sales volume following the successful launch of the TX4.

Earnings continue to be negatively impacted by three factors: the strength of the Euro increasing the cost of engines purchased from Italy; the costs of supporting the joint venture set up with engineers; and the cost of the international sales and marketing team.

We have responded to lower sales and higher working capital by reducing vehicle output to lower inventory levels, implementing an aggressive reduction in operating costs, and headcount reductions. The result of these actions is a 15% reduction of the manufacturing break-even level to approximately 2,000 vehicles per annum.

Taxi cab sales weaken - MoneyAM


Manganese Bronze said trading in the UK continues to be depressed by the weak economic conditions.

The manufacturer of the iconic black London taxi cab said that demand for new vehicles in the second half of 2008 will be below those of the first six months.

The company said vehicles sales for the nine months to end of September were down 37.5% to 1,628 vehicles, compared to 2,604 vehicles in the same period last year.

It added that earnings continue to be negatively impacted by the strength of the euro which increased the cost of engines purchased from Italy.

In response, the group proposes to reduce output to lower inventory levels, implementing an aggressive reduction in operating costs and making job cuts. This will result in a 15% reduction of the manufacturing break-even level to around 2,000 vehicles per annum.

'The UK market place remains challenging and the board does not expect that UK sales will exceed the manufacturing break-even point in 2008,' the group said in a statement.