Rover plans to ditch new car
2 February 1987
THE GUARDIAN
Austin Rover's corporate plan includes cancelling the AR6 development project in order to improve the company's cash flow before being sold off by the Government, it was claimed last night. The Money Programme on BBC-2, said that the proposed loss of the AR6--an all British car designed to take Rover into the 1990s - was being opposed by former senior executives.
The corporate plan submitted to the Government by the Rover Group chairman , Mr Graham Day, was based on Austin Rover being sold by about 1990. Axing of senior management who had opposed a takeover by Ford suggested that negotiations with the US car giant would eventually be reopened. The plan proposed developing the AR8 project further and revamping the Metro with K-serles engines.
The existing range would be marketed heavily to generate cash and all future projects would be joint ventures with Honda , it was claimed. Mr Day is believed to have sought further backing of up to £400 million from the Government.
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