Sorry mate, I don't go south of the Yangtze

9 March 2009
Big firms are not the only one reining in their spending at the moment. According to this article from The Telegraph, black cab manufacturer Manganese Bronze is suffering as taxi drivers delay or avoid buying new vehicles, as cabbies themselves have been hit by a fall in customer numbers. The firm made a pre-tax loss of £14.2 million, after like-for-like sales were down 37.5 per cent compared to a year ago. However, the company is pinning its hopes on the success of its joint venture with Chinese automotive firm Zhejiang Geely (News, 19 October 2006), to cut costs and return the company to profitability.
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