John,
Maybe a lot of what you provided here helps explain why dealerships selling
Triumphs back in the 60's and 70's around where I grew up in southeastern
Pennsylvania also sold other makes of vehicles....it was the only way to
assure enough steady cash flow.
The dealer that I bought my 1969 TR6 from (new in Feb, 1969), also sold
Volvos. He continued to sell Volvos long after he stopped selling Triumphs.
Some dealers also held franchises for other British cars as well..i.e.,
MG, AH, Jaguar but I can't think of any dealership selling Triumphs
exclusively.
chip
In a message dated 7/5/2013 6:04:07 P.M. Eastern Daylight Time,
flywheelcoventry1@yahoo.co.uk writes:
Chip Krout wrote:
It beats my TR6 which was built on July 5, 1976, but not shipped to the
USA
until December, 1976, and not sold until April, 1977.....amazing....how
did Brit Leyland make any money leaving products laying around the docks
for
so long!!?? Geez, by the time the first owner bought the car, the seals
had already started to dry rot from nonuse.
Chip
To understand the reasons why requires a knowledge of international
banking. All exports in those days - as well as today - are/were paid for using
a
document called a Confirmed Irrevocable Letter of Credit. Its a means of
ensuring the buyer doesn't pay until the car is on its way and the seller is
guaranteed his money. The LC is is valid for a relatively short time -
usually just a few weeks - and can be drawn down (cashed) only when the car is
loaded on a vessel and the bank is presented with the shipping documents
and invoice within that time frame.
Enter stage left, the British Trade Unions who, more often than not in
those days were on strike - ergo no cars got made. Strike ends and production
re-starts and by the time the car is finished (maybe with another strike or
two for good measure) the Letter of Credit has expired so car can't be
paid for and so it can't be shipped until another Letter of Credit is opened.
This takes an inordinately long time and isn't cheap. Too often, we were
left with the option of "do we make the car when another LC arrives or do we
go ahead so that when it does arrive, the car can go straight away?" Throw
into this heady mix, the volatility of exchange rates because you'll either
make a fortune or lose your shirt.
The bottom line was that BL didn't make much money because too much
working capital was tied up in stocks wanted by the customer
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