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MMC struggling for sales?

Posted By: howard

MMC struggling for sales? - 13/08/19 06:34 PM

For some reason I am on their mailing list and this week received an offer for a new 3 wheeler ex factory at a discount. Gone are the days when you had to wait 6 years for a Mog - they are now ex stock and negotiable. Not good for resale values

Times are hard for all carmakers. Does anyone know how MMC are doing?

P.S. Aston have announced that they wont reach budget so if MMC are struggling, they arent alone.


WHOOPS! Just spotted the thread below about "ownership contribution" - bullpoo for discount of course.
Posted By: M3W55

Re: MMC struggling for sales? - 13/08/19 07:31 PM

The discount window is so small that I doubt it will do anything to second hand values (or so I am hoping).
Posted By: Hamwich

Re: MMC struggling for sales? - 13/08/19 08:26 PM

I was talking to a chap this week, he is well into the classic car trade and knows a lot about what's happening. From his point of view, anything under £50k is showing strong demand, as is anything over £500k. But stuff around the £100k mark is dead in the water. I really hope MMC haven't priced themselves into the dead spot in the market.
Posted By: madmax

Re: MMC struggling for sales? - 13/08/19 08:57 PM

Sounds like most air cooled 911's are dead then !
Posted By: waikiore

Re: MMC struggling for sales? - 14/08/19 05:08 AM

Yes I imagine the time is ripe for a compliant engined plus 4 at well under 50, to give Morgan a good market offering and help the dealers quickly boost numbers.
Posted By: waikiore

Re: MMC struggling for sales? - 14/08/19 05:09 AM

Sorry I meant 4/4 basic spec, most dealers once they have you on the hook know how to " add chips with that burger."
Posted By: Stringers Best Mate

Re: MMC struggling for sales? - 14/08/19 07:32 AM

Pistonheads reporting all 50 first edition Plus 6 models now sold..
Posted By: Gambalunga

Re: MMC struggling for sales? - 14/08/19 08:33 AM

I'm planning on waiting for the 50th Anniversary Special Edition Plus 6. It should be out in time for my 123rd birthday.

I wonder what they'll give me as a part exchange on the mobility scooter?

Posted By: Stewart S

Re: MMC struggling for sales? - 14/08/19 10:08 AM

Originally Posted by Stringers Best Mate
Pistonheads reporting all 50 first edition Plus 6 models now sold..


And another 100 on order I believe

I think thats a great launch of a new model for a manufacturer the size of Morgan
Posted By: DaveW

Re: MMC struggling for sales? - 14/08/19 10:18 AM

It's a remarkable achievement.
Posted By: Hamwich

Re: MMC struggling for sales? - 14/08/19 10:25 AM

Originally Posted by Stewart S
Originally Posted by Stringers Best Mate
Pistonheads reporting all 50 first edition Plus 6 models now sold..


And another 100 on order I believe

I think thats a great launch of a new model for a manufacturer the size of Morgan


Originally Posted by DaveW
It's a remarkable achievement.


Wow, that is certainly great news. I wonder how many of the purchasers are first-time Morgan owners?
Posted By: pete757

Re: MMC struggling for sales? - 14/08/19 10:41 AM

A good read!

Cars look superb on the hill :>)

https://www.pistonheads.com/news/ph-britishcars/new-morgan-plus-six-first-edition-sells-out/40755
Posted By: pete757

Re: MMC struggling for sales? - 14/08/19 10:43 AM

And what makes this even more 'remarkable', is that no one? (aside from Press?) who has ordered a 'launch edition', has ever driven one!!

Good job!
Posted By: Eddie Cairns

Re: MMC struggling for sales? - 14/08/19 12:10 PM

I think people may be confused here. Morgan may have that number of orders from dealers. There is no confirmation that these are all owner’s orders.

A quick look at a Morgan dealer’s website that shows their new cars, indicates that no new cars have been sold for a good few months.

Exactly similar to about 5 years or so ago when there were plenty of new cars in stock mid summer and they did not move in any numbers until the next spring.

Local BMW, VW, Mazda and plenty other dealers are crying out for sales.
Posted By: DaveW

Re: MMC struggling for sales? - 14/08/19 12:26 PM

The Dealer Plus sixes were "delivered" at Prescott, so most will now have a demonstrator. I doubt many dealers will want two in stock, so it does seem likely that the remaining orders are customer cars. I just think it's limiting to only have the choice of two colours.
Posted By: Chris99

Re: MMC struggling for sales? - 14/08/19 12:44 PM

I know at least 1 dealer ordered a second +6 for stock and I'm sure others would have as well. Particularly as there are 2 versions of the launch edition so it would seem sensible to have one of each on display.

It's still a fantastic achievement to have sold so many up front.
Posted By: +8Rich

Re: MMC struggling for sales? - 14/08/19 12:55 PM

That is a good launch and the new owners must be suitably encouraged as profit is the name of the game for them and their shareholders.
Posted By: Gambalunga

Re: MMC struggling for sales? - 14/08/19 03:43 PM

Well I know one person who has ordered one. No it is not me smile
Posted By: JamesP

Re: MMC struggling for sales? - 15/08/19 09:31 AM

Originally Posted by pete757
And what makes this even more 'remarkable', is that no one? (aside from Press?) who has ordered a 'launch edition', has ever driven one!!

Good job!

Originally Posted by pete757
And what makes this even more 'remarkable', is that no one? (aside from Press?) who has ordered a 'launch edition', has ever driven one!!

Good job!


Not true. I drove one and having been in the fortunate position of owning just about every supercar/hypercar over the last 20 years I was blown away by the performance and handling. Its a very serious machine! But in truth I did order it before I drove it, but that was a case of a clear understanding the new chassis, drivetrain and what it would/should equate to. I happy for Morgan because they are more than delivering on their promise.
Posted By: Roady

Re: MMC struggling for sales? - 15/08/19 05:03 PM

I was told some time ago that MMC have said that all dealers must always keep a Plus 6 in stock so if they, for example, sell their demonstrator they must have another to replace i.e. they pretty much need two cars at all times.
Posted By: pandy

Re: MMC struggling for sales? - 15/08/19 11:30 PM

Originally Posted by howard

P.S. Aston have announced that they wont reach budget.


You're not kidding Howard. At one stage today, Aston Martin shares were trading at £3.71 - down to only 19,5% of the £19 launch price of October 2018. Not a happy state of affairs.
Posted By: Alistair

Re: MMC struggling for sales? - 16/08/19 12:43 PM

Originally Posted by Roady
I was told some time ago that MMC have said that all dealers must always keep a Plus 6 in stock so if they, for example, sell their demonstrator they must have another to replace i.e. they pretty much need two cars at all times.


This is a normal practice in the car industry, however I would not describe Morgan sales as normal channels etc. It is actually an incentive I believe as margins are wafer thin on new cars and this brings some additional manufacturer price support.

They must run a couple of demo cars, they get additional discount on them, some tax claim and have to keep each for 6 months before they can sell them. They usually have a buyer lined up for the handover at 6 months and another ordered for replacement. We bought our mini like his, ex-demo. We did a deal with the dealer to spec their next "demo" model so when they had used it for 6 months it was perfect for us. It saved more than the price of a lot of extras we had added. It arrived with 3,500 miles on it and fully showroom valeted. They added the 5 year warranty and service pack as well.

If the same process is used by Morgan it will be a benefit to good dealer and customer partners? Place your order ahead of time with your favourite dealer and you might see a spare fiver in your back pocket after you have got your new Plus6. Singles all around!
Posted By: LightSpeed

Re: MMC struggling for sales? - 17/08/19 12:44 AM

That is absolutely hilarious that scooter!
Posted By: rainbowj

Re: MMC struggling for sales? - 24/08/19 07:19 PM

Originally Posted by Gambalunga
I'm planning on waiting for the 50th Anniversary Special Edition Plus 6. It should be out in time for my 123rd birthday.

I wonder what they'll give me as a part exchange on the mobility scooter?



I was worried about this ban on cars after 2050. I then realised I would be 104.
Posted By: pandy

Re: MMC struggling for sales? - 25/09/19 10:24 PM

Originally Posted by howard

P.S. Aston have announced that they wont reach budget so if MMC are struggling, they arent alone.



Aston Martin have just announced that they are raising £120 million through a bond secured until April 2022, at a whopping 12% (or 15% if orders fall short).

Shows how high risk they are now considered.
Posted By: Stewart S

Re: MMC struggling for sales? - 26/09/19 11:08 AM

Originally Posted by pandy
Originally Posted by howard

P.S. Aston have announced that they wont reach budget so if MMC are struggling, they arent alone.



Aston Martin have just announced that they are raising £120 million through a bond secured until April 2022, at a whopping 12% (or 15% if orders fall short).

Shows how high risk they are now considered.

It’s been downgraded to CCC+ By S&P
Almost junk bond status
Posted By: Stewart S

Re: MMC struggling for sales? - 26/09/19 11:18 AM

I think Invest Industrial (who own MMC) now have 34 percent shareholding in Aston Martin
Posted By: howard

Re: MMC struggling for sales? - 26/09/19 03:57 PM

Originally Posted by pandy
Originally Posted by howard

P.S. Aston have announced that they wont reach budget so if MMC are struggling, they arent alone.



Aston Martin have just announced that they are raising £120 million through a bond secured until April 2022, at a whopping 12% (or 15% if orders fall short).

Shows how high risk they are now considered.


Sad isnt it. A company with a chance of competint with Ferrari and Lambo now destined for the scrap heap.
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