. home.aspx

NEWS

home.aspx
   


Morgan - the last family-owned British carmaker set to sell to Italian firm

March 11, 2019 / Sarah Bellamy
SHARESHARESHARE

Morgan Motor Company has announced that Italian investment firm, Investindustrial, will take over majority ownership of the car company in April. The announcement occurred at the Geneva Motor Show, alongside the company unveiling its latest Morgan Plus Six. The Malvern-based sports car manufacturer began in 1909 and has been owned by the Morgan family for 110 years. The family will keep a minority shareholding of the company, as well as being stewards for the brand. The management team and all staff will also become shareholders in the move.
Morgan currently produces around 850 cars a year. Due to their hand-built nature, wait times for delivery of a vehicle can be up to six months. Last year saw Morgan generate revenue of £33.8m, with a net profit of £3.2m.