New owner for TVR within a fortnight

[Pebb]

Source: AutoCar

A new owner for the beleaguered TVR sports car company - a successor to 'baby oligarch' Nikolai Smolenski, who acquired the company for £15 million in 2001 but appears to have lost his trademark rights in a series of financial machinations - is due to be revealed in less than a fortnight.

The administrator of Blackpool Automotive, the company created last year by Smolenski to contain TVR's Blackpool assets, will announce the successful new owner on February 23, from a field of around half a dozen serious bidders, all of whom were required to provide proof of £2 million funding to be considered. It is possible, though observers say increasingly unlikely, that Smolenski will bid again for the company. He is believed to retain ownership of Coventry-based TVR Power, the company which built engines and supplied spares for the cars until production ceased last autumn.

Another prominent bidder is the Rochdale millionaire and engine designer Al Melling, already in the news after recently showing a full-size concept model of his own-brand super-performance sports car, the £185,000 Melling Hellcat, powered by a 1200 bhp, quad-turbo V10 engine of 6.3 litres. Melling designed TVR V8 and in-line six-cylinder engines, and has already hot-housed plans to revive the company, which would continue to be based in Blackpool.

"I'd need the old workforce," he said, "and if we could extend the lease on the existing Bristol Avenue premises, we¹d stay there. It would take between six and 12 months to get the place back in full production, but I'd never expect to make more than 10-15 cars a week, two-thirds of which would be sold in the US. We'd major on the Sagaris and we'd revive the Griffith, which would be powered in updated form by an AJP8 engine. That car should never have been dropped."

 

[Jim Prower]

I wonder if the Aston Martin winner's also looking at this...

 

[Famine]

"I'd need the old workforce," he said, "and if we could extend the lease on the existing Bristol Avenue premises, we¹d stay there. It would take between six and 12 months to get the place back in full production, but I'd never expect to make more than 10-15 cars a week, two-thirds of which would be sold in the US. We'd major on the Sagaris and we'd revive the Griffith, which would be powered in updated form by an AJP8 engine. That car should never have been dropped."

Anyone know if this guy's single?

 

[TheCracker]

It would be great news if Al Melling gets TVR - he's just the sort of enthusiast that a company like TVR needs. 👍

 

[Dave A]

I agree, Melling would do right by TVR. And I totally love the idea of them re-starting Griffith constrction. I do wonder how this will affect any current plans for future models TVR have.

 

[TheCracker]

I do wonder how this will affect any current plans for future models TVR have.

I guess with plans to sell 2/3rds of the cars to the US, the new cars already planned will surely feature strongly in any future line-up. Melling sounds more like a potential Peter Wheeler style owner, ie not hugely deep pockets (unlike Smolenski) but with a huge passion for 'TVR the car manufacturer' rather than 'TVR the money making investment'

 

[YSSMAN]

It would take between six and 12 months to get the place back in full production, but I'd never expect to make more than 10-15 cars a week, two-thirds of which would be sold in the US.

Oh dear God give this man the stuff he needs to get those cars in America NOW!!! It sounds as though he has what he needs to get things done, knows how to do it, and most importantly wants to keep things in the UK. Absolutely awesome.

...Is it just me, or do things seem to be "clicking" with car companies in America and Europe?

 

[Scaff]

Anyone know if this guy's single?

What do you think?

Actually Melling would be an ideal new owner for TVR, he certainly has the background and experience to do it justice (currently at least 38 engines he's designed are in production).

Regards

Scaff

 

[Dave A]

He has the money and the right attitude towards what a raw British sportscar should be as well. Peter Wheeler was a genius for TVR, he did wonderful things for the company, it was sad to see him go. Smolenski had high hopes for TVR, long term plans and a lot of ambition, he also had the money to do it, but in the process he managed to put TVR in a tricky situation. If his initial plans had worked first time I believe he would have built TVR into a much bigger company. No it's open for for bidding I fear that someone with who perhaps doesn't have the right ideas about TVR may outbid someone like Melling who has the money to work with TVR but maybe not enough to win the bidding.

 

[TheCracker]

What do you think?

Just Famine's type 👍

 

[1X83Z]

Oh dear God give this man the stuff he needs to get those cars in America NOW!!!

Keep them out. The last thing we want is more low-quality high-dollar sports cars. We've got enough of those.

 

[YSSMAN]

^ I have a hard time understanding you sometimes, and I can't figure out why. IMHO, TVR will be a welcome addition to the American marketplace among not only hardcore enthusiasts, but also regular folks alike. Their cars are striking not only in looks, but also performance, and could be the indie hit that we need to bring back British Sports Cars to the way they should be.

 

[Pebb]

Keep them out. The last thing we want is more low-quality high-dollar sports cars. We've got enough of those.

TVR is more different then you think, because the insides of the car do not use melted down plastic bins like the Z06, and even with TVR cars you are getting a bargain. Even us British, can make great things cheap, with out doing low quality like the Spitfire in WW2.

 

[Dave A]

Keep them out. The last thing we want is more low-quality high-dollar sports cars. We've got enough of those.

Low quality, not as much as people like to believe. It's like the reliability issues everyone who has no idea screams about. TVR's arn't unreliable, but they could use better fit with the trim. The materials used however certainly not low quality, they are rather good. As for expensive, TVR's are among the best value sportscars in Europe, they are cheaper over here than Corvettes, and offer better performance for you money, the same is said when compared to Vipers. You can't complain about having too many let's say low volume sportscars in the US, you've got hardly any compared to us, and we don't regret having them . I honestly believe that if TVR's were sold in the US, they would sell, and sell well. You guys literally don't know what you are missing.

 

[1X83Z]

A few Brits have chimed in to stand up for TVR's reliability, but I believe what I read. Google "TVR reliability" and not one positive article comes up - in contrast to, say, "Toyota reliability" which brings up nothing but glowing praise. I know you Brits are proud of TVR, but admit fault where there is fault (God knows I do for the Corvette) - no one denies the cars are entertaining, but it's hard to stand up for their assembly quality.

 

[ExigeEvan]

If anyone has time to take snippets from Evo's article on TVR will they do so, if not I'll do it tomorrow.

But the fact is, yes TVR had pathetic reliability.

But under Smolenski a lot of stuff was improved, sadly not enough cars were produced and not for a long enough time to really get the message across.

 

[1X83Z]

Okay, that's fair I guess.

 

[jammyozzy]

Would that be this article?

"So, instead of reporting on a sexier, more savage Sagaris, I'm here to tell you about things like washer jets fixed to the scuttle instead of floppy rubber tubes lashed to the windscreen wipers; supportive Sparco seats that don't wobble during hard acceleration, braking or cornering; new floor-hinged pedals made with a curve so that you don't have to overextend your ankles to fully depress the clutch or accelerator; tailgate glass with a beautiful alloy latch instead of a recess designed solely to pinch your fingers; rear-exiting exhausts that spit and pop but don't resonate; and bodywork that doesn't act as a trap for every leaf, granite chipping and errant cigarette butt. The list goes on.

It's all very un-TVR, but addressing long-standing quality, comfort, ergonomics and functionality issues are what the cars - and many of the customers - have been crying out for.

Like ExigeExcel said, TVR have made huge improvements in build quality recently, and hopefully things will improve further once a new owner is sorted out. 👍

 

[Famine]

The thing with TVRs of old is that it's always been the weekend cars that went wrong. Daily driver TVRs - save for the occasional silly service bill - are no worse to run than a Vauxhall.

But maaaaan was the fit and finish dreadful. Okay, the interiors are gorgeous, but they were assembled as if thrown at the car. Doesn't stop me being in the hunt for one though - but I'm keeping my hand in my pocket until I've got a garage.

 

[ExigeEvan]

The thing with TVRs of old is that it's always been the weekend cars that went wrong. Daily driver TVRs - save for the occasional silly service bill - are no worse to run than a Vauxhall.

But maaaaan was the fit and finish dreadful. Okay, the interiors are gorgeous, but they were assembled as if thrown at the car. Doesn't stop me being in the hunt for one though - but I'm keeping my hand in my pocket until I've got a garage.

And a Polish mechanic as well?

 

[Dave A]

But the fact is, yes TVR had pathetic reliability.

But under Smolenski a lot of stuff was improved, sadly not enough cars were produced and not for a long enough time to really get the message across.

No, they didn't, if you do your research you will know that TVR hasn't had to fix a single broken engine in quite a while and their mechanical reliability has been no worse that BMW's in their AJP6 engined cars. The only mechanical reliability problems TVR has ever had real issues with press wise are AJP8 engined cars. And none of thoes have been in production TVR's for quite some time, the AJP8 was being phased out long before Smolenski took over, Smolenski hasn't actually done anything yet to increase TVR's mechnical relibility, he tried to get the trim fitted better but he did nothing for mechanicsal relibabilty, because that was not an issue that needed fixing. It's all media spin and with a small company, thats where the spin hurts because it's the initial thing that catches on and because hardly anyone respectively has actually owned a TVR no one can turn around and say, well hang on but that's not true. Then when one of the few people who has experience does, they get told their just a TVR fan and won't say anything bad about the company, it becomes a no win situation for TVR and TVR fans.

I know people who have owned TVRs, I know (though not socially) someone who worked for TVR and I have been to the factory. Theres a local lad I know who used to own a Griffith, then replaced it with a Tuscan Speed six, he never had a single mechnincal fault with either car, if you look up TVR reliability issues, look up what models thoes issues apply to, I gaurentee that pretty much every article that singles any models out will single out the V8 Cerberas. You will find hundereds people in the TVRCC, people who have actually owned the cars and very few of them have reliability problems and when someone does it's a big deal even if the fault isn't, I can't remember the last major fault. What did happen is TVR had the AJP8 engine developed, which itself was not a bad engine. But it was very highly tuned, giving it the beans before it warmed up a good ammount was not advisable, and TVR would tell you this before you bought the car, the other thing was some people wouldn't put enough oil in the car, that was a common reason for problems and that has in some instances been put to the fact many owners didn't know how to judge the right ammount in a car with a dry sump engine. Despite the "warm the engine up first" warnings people would still start the car and within minuets be flooring it, and revving the enigne hard. Even still, there wern't that many AJP8 ngines that broke down, like Famine said, their standard road cars have never really been much of a problem. But the AJP8 combined with their racers gave them a repuation that they didn't deserve and it was blown out of the water.

 

[ExigeEvan]

Certainly, a lot of the newer cars were in better form, before Smolenski turned up, but you just have to look at Mercedes to realise that engine reliability isn't the only thing that concerns 'reliability'. Internal electronics etc.

However, it's also right to add that under Smolenski TVR's were given 3 year/36,000 mile warranties. Now even though this was probably not done before because of financial reasons, it's a huge thing to claim reliability but not back it up with a warranty.

But, furthermore, A quick search on google on TVR and reliability gave this.

http://www.carpages.co.uk/tvr/tvr-speed-6-22-06-05.asp
Highlighting Speed 6 reliability.

So delving a little deeper. Now with TVR Speed 6 reliability
http://www.pistonheads.com/gassing/topic.asp?f=13&t=188256

And then when you check wikipedia

There have been complaints of reliability and durability issues from some users. In some cases these have been attributed to faulty components provided by TVR's parts suppliers and still other cases have been attributed to user abuse. Like any highly tuned engine, it is extremely sensitive to being pushed hard without being allowed to warm up fully first. Also, its dry sump oil system can make it difficult for new owners to accurately judge the level of oil in the reservoir and any engine run without adequate lubrication can be subject to mechanical damage.

So a lot is put down to user abuse, but don't tell me other cars are put under any less abuse.

 

[Dave A]

Certainly, a lot of the newer cars were in better form, before Smolenski turned up, but you just have to look at Mercedes to realise that engine reliability isn't the only thing that concerns 'reliability'. Internal electronics etc.

That is true, and I will never argue that the trim fitting were good in a TVR, the interioes were nice, and made with nice materials, but the fit was poor. Very poor.

However, it's also right to add that under Smolenski TVR's were given 3 year/36,000 mile warranties. Now even though this was probably not done before because of financial reasons, it's a huge thing to claim reliability but not back it up with a warranty.

TVR offfered a 3 year warranty in the 90's, all smolenski did was appraoch a different company and remarket the warrant. It was never a standard warranty it was always an optional extended warranty.

But, furthermore, A quick search on google on TVR and reliability gave this.

http://www.carpages.co.uk/tvr/tvr-speed-6-22-06-05.asp
Highlighting Speed 6 reliability.

So delving a little deeper. Now with TVR Speed 6 reliability
http://www.pistonheads.com/gassing/topic.asp?f=13&t=188256

Okay fair enough, you've found two articles that both point out TVR tackling speed six reliability problems, but I'll repeat myself, TVR have not had to repair a single faulty engine for a long time, and I mean years not weeks or months, I also never said all articles reffer to AJP8 engines, just most. And that doesn't contradict the fact that the reputation came from the AJP8 and it should have died with it. Yes some do break down, no they arn't any worse for mechanical reliability than Vauxhall Vectras.

 

[Scaff]

While it certainly is true that TVR quality did improve quite dramatically over the last five or so years, its also certainly not accurate to play down the problems that did exist prior to that.

Certainly engine wise the AJP8 was a very troublesome engine, as is well described by Giles Cooper (former owner of the now bankrupt TVR Centre) in this months EVO.

Virtually all the cars (referring to AJP8 engined cars) suffered from engine problems. They'd go down, get sent back to the factory and rebuilt, then they'd go down again.

Its also rather important to keep in mind that any claim under warranty for a engine damaged through such obvious owner abuse as overfilling the oil would be rejected. Not to mention that a good number of the cars (given the young age) would have been dealer maintained. Its not a stretch to say that the major (and they were major) issues the early AJP8's suffered from were a factor in declining TVR sales.

Giles Cooper also addresses the issue of general build quality of early Tuscan's in the same piece.

A lot of people liked it, but despite talk of improved quality, they leaked, panel fit was all over the place.

Now The TVR Centre in Barnet sold more TVR's than any other dealership and was set up in partnership with Peter Wheeler back in 1985. It went into administration last December.

A look around Pistonheads.com (easily one of the best regarded TVR sites on the web) will quickly reveal that if you got a 'good' car you were fine, but a lot of people didn't and problematic ownership is almost seen as a characteristic of the TVR experience.

All that said I would still have one at the drop of a hat, for me a Rover V8 engined Griff would be my choice, finished in Moonraker Black.

Regards

Scaff

 

[Dave A]

All that said I would still have one at the drop of a hat, for me a Rover V8 engined Griff would be my choice, finished in Moonraker Black.

Your a man with great taste.

 

[Famine]

All that said I would still have one at the drop of a hat, for me a Rover V8 engined Griff would be my choice, finished in Moonraker Black.

When I get mine - though I prefer the deep blue, with magnolia leather - I'll let you have a whirl.

 

[Scaff]

When I get mine - though I prefer the deep blue, with magnolia leather - I'll let you have a whirl.

Now that I will certainly hold you too.

Funny thing is I was just about to edit my post to add magnolia leather as well, dash would be the machined aluminum, rather than the wood finish.

@L4S - Thanks 👍

Scaff

 

[Famine]

Oh yes - machined aluminium FTW.

 

[Layla's Keeper]

I guess I'm the odd man out since I'd want a 3000M or maybe one of the Vixens.

TVR would fit in well in the states alongside Panoz, Mosler, Callaway, Saleen, and the rest. Why not bring 'em over. Sheesh, they sell Nobles in the states, don't they?

 

[Pebb]

No, they didn't, if you do your research you will know that TVR hasn't had to fix a single broken engine in quite a while and their mechanical reliability has been no worse that BMW's in their AJP6 engined cars. The only mechanical reliability problems TVR has ever had real issues with press wise are AJP8 engined cars. And none of thoes have been in production TVR's for quite some time, the AJP8 was being phased out long before Smolenski took over, Smolenski hasn't actually done anything yet to increase TVR's mechnical relibility, he tried to get the trim fitted better but he did nothing for mechanicsal relibabilty, because that was not an issue that needed fixing. It's all media spin and with a small company, thats where the spin hurts because it's the initial thing that catches on and because hardly anyone respectively has actually owned a TVR no one can turn around and say, well hang on but that's not true. Then when one of the few people who has experience does, they get told their just a TVR fan and won't say anything bad about the company, it becomes a no win situation for TVR and TVR fans.

I know people who have owned TVRs, I know (though not socially) someone who worked for TVR and I have been to the factory. Theres a local lad I know who used to own a Griffith, then replaced it with a Tuscan Speed six, he never had a single mechnincal fault with either car, if you look up TVR reliability issues, look up what models thoes issues apply to, I gaurentee that pretty much every article that singles any models out will single out the V8 Cerberas. You will find hundereds people in the TVRCC, people who have actually owned the cars and very few of them have reliability problems and when someone does it's a big deal even if the fault isn't, I can't remember the last major fault. What did happen is TVR had the AJP8 engine developed, which itself was not a bad engine. But it was very highly tuned, giving it the beans before it warmed up a good ammount was not advisable, and TVR would tell you this before you bought the car, the other thing was some people wouldn't put enough oil in the car, that was a common reason for problems and that has in some instances been put to the fact many owners didn't know how to judge the right ammount in a car with a dry sump engine. Despite the "warm the engine up first" warnings people would still start the car and within minuets be flooring it, and revving the enigne hard. Even still, there wern't that many AJP8 ngines that broke down, like Famine said, their standard road cars have never really been much of a problem. But the AJP8 combined with their racers gave them a repuation that they didn't deserve and it was blown out of the water.

Also Live people have to remember most Supercars will break down once in a while, but it is down to the owner not looking after there car. But one of the best old TVR’s, which never seems to have breaking down problems much is the TVR Chimera.