Tag: Financial Results

TVR to accept deposits for its new 2017 car in view of unprecedented enthusiasm and demand following announcement of the new car.

TVR to accept deposits for its new 2017 car in view of unprecedented enthusiasm and demand following announcement of the new car.

We have to say that we have been delighted – indeed bowled over – by the tremendous positive reaction to the announcement of our plans for the new TVR, and in particular the huge number of positive expressions of desire to place an order and to secure a place in the production queue. In order to satisfy that desire, and as it will assist us in planning the early years ahead, we have brought forward our plans to accept formal deposits against allocated build slots for the new car, in order of date of application.

We are very aware of the historic issues surrounding previous owners of the marque and issues over deposits, and can assure that these will not be repeated. If you are uncomfortable placing a deposit at this stage, we respect that. However, we should advise that from the expressions of interest to date we are confident that at least the first year’s production run will quickly be sold out. A small measure of risk isn’t for everyone, and we appreciate that, but we are very well backed, and here to stay.

The deposit scheme will go live at midday on July 7th 2015.

Here are some examples of the great coverage we have received since the announcement of the car.

Autocar
Top Gear
Evo
PistonHeads

FAQs
Is my deposit refundable?
Yes, until you place your formal order (once specifications and options have been announced), you will be able to apply for a refund. There will be no deductions for administration fees or the like by TVR, although there may be charges/deductions by bank or credit card companies. All we ask is that if you place a deposit, you do so in good faith.

Is my money at risk?
No – we would never allow that to be the case. We are well funded, and are here to stay! The deposit line has opened in response to a large number of requests from potential customers wishing to place a deposit on the basis of the information currently available both in the motoring press and on our website. If you do not consider this to be sufficient for you to decide whether or not you should place a deposit, we recommend you do not do so. However, if you pay by credit card, your payment is guaranteed by the credit card company.

What is the Launch Edition?
The Launch Edition, or LE (no prizes!), is a limited run with extra specification and special features at a discounted price against the usual list price for that specification, to celebrate the marque’s return to production in its 70th birthday year.

If I order a car now do I have to have a Launch Edition?
No, you can exercise a choice when placing your order. This can be changed later on. Once the slots have been sold a waiting list will be maintained in case any LE orders are varied or cancelled.

Is it permissible to place multiple deposits?
We are aware that some individuals may intend to place two deposits – ‘one to keep, one to sell’. Acceptance of more than 2 deposits from one individual or organisation is subject to prior discussion. We are aware that there is likely to be a profit opportunity from selling on build slots, but wish to keep that aspect contained to a reasonably measured degree – we want the cars to go to enthusiasts at the right price, not via speculators making multiple turns.

Will I be able to sell, or ‘flip’, my deposit?
Yes – this will be allowed – but only once per buyer save by prior arrangement.

There is no formal specification or price list yet – how can I be sure I want one?
If you don’t agree that the new car is a giant slayer, a TVR in every way, and incredible value for money, and you decide you don’t want to proceed with a formal order, we’ll give you your money back – no problem.

I’d Like to place a deposit on a convertible – can I do that now?
We are not yet taking deposits for convertible cars.

Will there be a LHD drive version at launch?
Yes.

Will the launch car meet legislation in my country?
The first car will initially be manufactured to EC SSTA (EU Small Series Type Approval) specifications and as such will be available in all EU countries and be available in right or left-hand drive versions.

In due course we will manufacture to further international standards. However, the launch model will need to be purchased in the EU and you will need to arrange for it to be individually exported and undertake whatever local type approvals are required to register the car locally yourself.

We are happy for you to place a deposit on a car in order to secure a place in the queue now while you investigate this further, and should you discover that it is unlikely that you would be unable to import the car then we will happily refund the deposit.

How will I know what my position in the queue is?
We will not be announcing specific positions at this stage, but broadly speaking, your position is determined at the time we receive cleared funds for your deposit. However, as credit card companies, banks and cheques can take varying times to clear funds, there may be a discrepancy between when you authorise your payment and when we actually receive the funds.