Better Taxis Spell U-Turn For LTI Vehicles



  • New Vehicle Renews Confidence Says LTI

LTI Vehicles, the manufacturer of the famous London taxi, is celebrating a 6.2 per cent year on year increase with taxi sales rising to 2,412 vehicles for the year ending July 2005.

LTI Vehicles attributes this success to a much improved vehicle which has restored the driver’s confidence and belief in the TXII purpose built taxi as their number one choice.

Parent company Manganese Bronze Holdings this week announced pre-tax profits of £1.6 million compared to a £1.2 million loss in 2004, leaving it in the black for the first item in four years.

And the signs are equally positive for 2005/06 with September sales showing an increase of 29.6% on the same period last year.

Ian Pickering, Chief Executive of Manganese Bronze said of the results: "We have a strong balance sheet which gives us the resources to invest in the development of our core UK taxi business and a clear growth strategy for overseas expansion."

His optimism was echoed by Matthew Cheyne, Sales & Marketing Director of Coventry based LTI Vehicles who commented: "Our sales are on the increase because we are delivering a better product to our customers which cannot be matched by any other vehicle. Our vehicles are purpose-built, not converted to become taxis and are instantly recognisable as such around the world.

"We are not however complacent and are constantly looking to improve the vehicle. Our latest model, which was introduced in September of this year, now offers better handling and an even better ride for both the driver and the passenger and is already making its mark as demonstrated by our September sales."

16 October 2005 Staff

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