Hong Kong Witnesses First Aston Martin One-77 Crash

2013 Volkswagen CC Gets Sporty R-Line Trim

Formula 1 Monaco Grand Prix Weather Forecast
Sarrazin Gains Final Seat For Toyota Racing At Le Mans

Indy 500 Carb Day Practice To Franchitti; Dixon Takes IZOD Pit...

Volkswagen Golf R Cabrio Patent Photos Revealed
2013 Cadillac XTS Configurator Launched

BMW Zagato Coupe Unveiled At Villa d'Este

New Firestone Indy Lights Formula For 2014

Another British sports car company bites the dust

Kenneth Hall

Author

LATEST ARTICLE
Electric Supercharger Offers Diesel Efficiency For Gasoline Engines
Existing hybrid technology uses electrical energy stored in a battery to power an electric motor... Read More

N/ALEADERBOARD RANK
1031ARTICLES CONTRIBUTED
0COMMENTS POSTED

1,684 views Oct 11, 2007

Another British sports car company bites the dust

Enlarge Photo

In a trend that seems to be rising in the British auto industry niche sports car manufacturer Marcos Engineering has announced it will be entering administration and plans to wind down its operations as soon as possible. Marcos is probably most widely recognized for its TSO GTC, a V8 powered coupe developed with help from Prodrive. The company claims it will complete any existing work in progress but then sell its assets and distribute whatever is left to shareholders and creditors.

Marcos was founded in 1959 and previously went into receivership back in 2000. The company was restarted in 2002, manufacturing a range of high performance hand built lightweight sports cars. There was some hope for the brand when a deal to secure the supply of 420hp versions of the Corvette V8 engine went though. Unfortunately, this wasn’t enough to generate substantial profits and a continuing rise in the cost of capital has led to its downfall.

“Regrettably, despite the extraordinary efforts of our employees, suppliers and dealers, we simply could not attain a profit point, reduce our cost base or raise the necessary capital to sustain the business”, said Tony Stelliga, Managing Director in a statement.

At this rate a future without any British carmakers bar a handful appears entirely possibly. If you think this is only a concern for the niche brands like Marcos you only have to look at the state of Jaguar to see how serious the problem really is.