Manganese Bronze, this week, has blamed a difficult economy for the ever decreasing taxi sales recorded over the last three months.
The black cab manufacturer, which has supplied England with thousands and thousands of cabs for so many years now, has seen its sales plummet by nearly 9% when compared to figures from last year in the quarter to the end of September. Manganese Bronze are also down by 7.5% on 2010 for the year so far. It seems that there are less Manganese Bronze vehicles being insured with a taxi insurance policy in 2011.
This news comes after recent figures for the cab sales of Mercedes Vito’s in London also fell from 234 in the first half of 2010, to 171 this year. The economic downturn has certainly bitten numerous cab providers it seems.
Manganese Bronze has added that sales so far in October have followed a similar trend. However, despite the gloomy sales figures, Manganese Bronze at least held positive margins and boosted its already dominant share of the London cab market. This increased from 79% to 81%. So it is not all bad news for the black cab firm.
Meanwhile, international sales have actually increased for the firm this year thanks to a huge order from Azerbaijan for 1000 cabs to be imported to the country’s capital city, Baku. This nearly trebled international sales for Manganese Bronze this year.
From 2012 onwards the company’s London sales will also benefit from the new rules which have been put in place in order to clamp down on the level of pollution in the capital city. This is to be achieved by banning any cabs that are over 15 years old from the capital’s roads.
Furthermore, Manganese Bronze’s shares remained unchanged at 35p. The firm is also now valued at a total of £10.6 million.