Iveco UK makes steady progress
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"SATISFACTORY progress" is being made by Iveco UK, according to its chief executive, Alan Fox. Speaking in London last week, Mr Fox said that lveco UK's 1984 profit would be "slightly better" than the 1983 figure of £2.7m, despite such adverse influence as the West German engineering workers' strike and the current relative weakness of sterling. recent The wholly owned lveco subsidiary in the UK buys vehicles and components from Italy, Germany and France, paying for them in those countries' currencies.
Alan Fox forecast that the imminent capital allowance tax changes in the UK will cause "a year-end spending boom" and that this country's total market for vehicles over 3.5tonnes gvw would rise to 57,000 from last year's 49,950.
Iveco has increased its UK market share so far this year to 5.5 per cent, doing particularly well with its Z range, 16 tonners and tractive units.
David Gill, lveco UK's sales and marketing director, expects the 7.5 tonne and heavy tractive unit market sectors to become even more competitive in 1985, with "further growth in the sales of 6 x 2 tractive units." He said that lveco had been "researching the UK bus market for years and has now isolated a sector with good prospects." That sector is for coaches with 28 to 32 seats.