Caterham has been sold?

[Kitcat]

Per a Facebook post, Caterham was sold on 3/31/21 to a Japanese firm, VT Holdings, the Caterham importer in Japan. No idea if this in an April 1 moment (like the “Voltswagon” name change for VW), or is real.

[kayentaskier]

I must be losing my mind ... I saw a posting form the NY Caterham dealer several hours ago, he included the press release. The posting is gone now

[MoBoost]

Just received so big news sent to my dealership by Caterham:

Dear Partner,

I have some exciting news regarding the business…… This is the press release below that will be issued next week, unfortunately the news appears to have broken prior to the embargo and so we are now forced to communicate this news today and by email, which is not what we had planned to do as we had hoped to tell you this news via a video call early next week.

“On Thursday 31st March 2021 Caterham Cars was acquired by Japan-headquartered automotive group, VT Holdings, from businessmen, Tony Fernandes and Kamarudin Meranun.

The company assumes custodianship of the legendary British sportscar brand having been the Japanese importer for the Seven since 2009, where it currently sells over 120 cars annually.

As one of Japan’s largest retailer groups with over 200 showrooms nationwide and investments in UK, Spain, Thailand and South Africa, VT Holdings is also the importer for a collection of two and four wheeled brands including Royal Enfield and Lotus in its home-market.

Motorsport, and the global track-day communities, have always played a central role in Caterham’s commercial success. The brand now joins a group led by Chief Executive, Kazuho Takahashi, who shares the same passions, having raced competitively in JGTC, Super GT and Super Taikyu championships for the past 20 years.

Commenting on the acquisition, Takahashi-san, said: “VT Holdings is proud to welcome Caterham to the group. We have not only purchased a globally renowned performance car manufacturer but become custodians of a motoring legend. We will protect and develop the Seven to meet the legislative challenges that lie ahead.”

Graham Macdonald, chief executive of Caterham Cars, added: “Takahashi-san and the team truly understand the DNA of the Caterham brand, our heritage, our customers and our passions. As a team, we’re all excited about starting to write the next chapter for this very special brand.”

Caterham Cars sell to 20 markets globally with exports accounting for 60% of its annual new car sales volume”.

I am sure there will be lots of questions, but please know that the business and brand is safe moving forwards into the future. Please rest assured this only strengthens the business’s commitment to the current product range and gives us complete confidence in our shared future. We are excited to work with our new shareholders as they are as passionate about the Seven as we are!

Please feel free to contact me with any questions that you may have.

Kind regards,

David

www.caterhamcars.com

David Ridley

Chief Commercial Officer

Caterham House ‑ Dialog, Fleming Way, Crawley, West Sussex, RH10 9NQ

[Croc]

A Caterham dealer is going to get spanked for breaking that news early.  Oops.

 

Caterham had been on the market for a while.  No secret that its previous owners had suffered substantial losses on a variety of their business ventures and so asset sales were needed.  

 

The new Japanese owners look to be well funded and stable.  Having money to invest in Caterham should remove some of the uncertainties around its future.  I am quietly hopeful.  

[JohnCh]

@kayentaskier you aren't losing your mind.  It was there earlier.  Might have been a proactive deletion by the thread starter to avoid the spanking Croc mentioned.

 

-John

[MoBoost]

I found it on the Caterham and 7 Owners in USA and Canada Facebook page. 

[Sean]

I wonder if that press release was originally issued yesterday, on April 1st?

[sf4018]

What “legislative challenges” are they talking about? Brexit fallout? Elimination of gas engines? Who knows!

[kayentaskier]

As someone who has spent more than three decades selling Japanese industrial products in the US, selling American industrial products in Japan and being the President of a Japanese subsidiary, I look forward to the rigor the new owners can bring to Caterham's engineering, manufacturing and inventory control functions. Finally there may be a decent build manual.

[seschm1234]

Caterham Cars Has New Japanese Owners (jalopnik.com)

[Croc]

 

Think of the potential where the new Japanese owners can take the Caterham brand.  Morgan is a classic example. 

 

For example, what about a stylish "driving jacket"?  Bespoke tailoring just for the owner?

 

 

 

 

Or if that is a little frou frou for some of the more 'earthy' Caterham owners here, maybe the more casual Bexley jacket?

 

 

 

 

I particularly am enamored of the Morgan eye wear

 

 

 

They look like the average Caterham owners don't they?  Must do if someone says they look like Morgan owners...   I know at least one Caterham owner who has a ring like that male model and another who has a trophy wife, like the photo, who is higher maintenance than his Caterham.

 

Now I know Caterham owners tend not to have the greatest of grooming practices.  I know I can smell some of them coming, so some Morgan Eau De Toilette by Gruhme, is just the ticket.  Works well for Birkin owners too!

 

But what about alcohol?  A topic near and dear to many Caterham owner, Westfield owner, actually, every se7ening owner's heart.  Well, I present you with the bespoke gin.  This Morgan one is infused with Ash Wood and a hint of apple.  You will all recall, that Morgan make their bodies out of Ash Wood so re-using the offcuts to produce a distinctive woody flavored gin is very creative.   Now I am not sure whether a Caterham equivalent would work as well since the unique odor of the type of wood that most Caterham owners drive around with is probably not marketable without being arrested.  But the Japanese are famous for their whiskeys so what about a Caterham whiskey?  Infuse it with smell of Lucas wiring burning?  Maybe a hint of Castrol Semi-Synthetic?

 

 

 

 

But the real kicker opportunity, to my mind, is hair care products.   We have all gone out for a drive and come back with our carefully coiffed locks, out of place.   Morgan have thought of that and partnered with Truefitt & Hill for some hair cream and lotions to fill a driver's need that I was never aware of.  Personally, I tended to prefer the 15W50 casually wiped through one side in a moment of distraction.   Morgan is keen for you to maintain a "supremely elegant appearance" at all times while poncing around in your "drop head" motor vehicle.

 

 

 

 

Small market for Caterham owners I suspect given most are follicly challenged?  That truly defines "hard to manage hair."   But what about a head cream to improve your aerodynamics?   It would even enhance your 0-25mph time by a poofteenth of a second!  Or maybe hair piece glue?   

 

The possibilities are endless.

 

I would draw the line at a Caterham Hello Kitty though!

 

 

 

 

[Vovchandr]

On 4/4/2021 at 7:21 AM, Croc said:

 

I would draw the line at a Caterham Hello Kitty though!

 

 

 

 

 

Why? Short hand of Caterham is perfect for that moniker. Hello Cat Kitty!

 

Not ashamed that I'd buy a bottle of Cat Gin. I don't think electrical problems will follow into that product line. Just don't name it Lucas Smokey Gin

Edited April 6, 2021 by Vovchandr

[fastg]

Article in Forbes 

 

https://www.forbes.com/sites/peterlyon/2021/04/07/british-icon-caterham-cars-acquired-by-japanese-automotive-group/?sh=7dd288557783

 

"And what lies ahead for VT Holdings? While the Japan-based firm will now manage the day to day running of the business as Caterham cars are designed and built in the U.K., we can expect to see electric versions joining the lineup by 2030."

 

Graham 

[Vovchandr]

2 minutes ago, fastg said:

Article in Forbes 

 

https://www.forbes.com/sites/peterlyon/2021/04/07/british-icon-caterham-cars-acquired-by-japanese-automotive-group/?sh=7dd288557783

 

"And what lies ahead for VT Holdings? While the Japan-based firm will now manage the day to day running of the business as Caterham cars are designed and built in the U.K., we can expect to see electric versions joining the lineup by 2030."

 

Graham 

 

Good find. That pretty much settles that.