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£6.5M for 6500 workers - surely the average wage can't be £1000 a week? No wonder it's in trouble!
 

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£6.5m x 4.5 (= number of weeks in a month) = £29.25m, close to the £20-£25m loss per month that the early look at the accounts seemed to indicate.
 

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streetrover said:
£6.5m x 4.5 (= number of weeks in a month) = £29.25m, close to the £20-£25m loss per month that the early look at the accounts seemed to indicate.
Yeah, but do they not have money owed to them by dealers etc... for stock therefore there should be money still coming in ie. turnover. Also by stopping production the cash flow in is very small so the whole episode is self destructing. People are still buying, i have been to a few local dealers in the last week and they seem to have normal amounts of customers actually buying the cars!!! So PWC, if the suppliers can be brought back on track, and with Phoenix's 49mill lets get the lines roling ASAP as soon as you've sorted out the books!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 

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streetrover said:
£6.5m x 4.5 (= number of weeks in a month) = £29.25m, close to the £20-£25m loss per month that the early look at the accounts seemed to indicate.
That would mean their income was approx £4.25 million per month = £51 million a year / 119,000 vehicles - that would mean each car is sold for an average of £428? Surely not?

The BBC site claimed that it costs £500 million to develop a new model, and they say the new one is £80 million away from production, so that probably accounts for some of the loss.
 

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heliman said:
Yeah, but do they not have money owed to them by dealers etc... for stock therefore there should be money still coming in ie. turnover. Also by stopping production the cash flow in is very small so the whole episode is self destructing. People are still buying, i have been to a few local dealers in the last week and they seem to have normal amounts of customers actually buying the cars!!! So PWC, if the suppliers can be brought back on track, and with Phoenix's 49mill lets get the lines roling ASAP as soon as you've sorted out the books!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
To be honest, I think the incoming money from dealers is wiped out by the amount of money that is owed to the dealers by MG Rover for bonuses, warranty work etc.
 
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