Bedford down
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FALLING export business plunged Bedford into deeper losses last year, with its loss ending 20 per cent higher than in 1983.
The company, now a division of General Motors' worldwide commercial vehicle business, lost £62.4m last year, against £52.2m in 1983. Its turnover fell from £340.2m to £335.9m, and sales of vehicles fell from 53,266 to 47,958.
British sales climbed overall by 6.9 per cent, but there was a 34 per cent fall in export business, notably to traditional markets in Nigeria and Pakistan. In many respects this parallels the performance of Leyland, but Bedford said last week that it expects some recovery in export business this year.
It also blames the loss on the West German metalworkers' strike last year, industrial action associated with its own wage negotiations, and heavy dealer support to win business in the competitive British market.
Commenting on the loss, Bedford general manager J. T. Battenberg III said that the losses also included interest charges associated with reinvestment in the division.
He said there was still every chance that Bedford would, as planned, be profitable again in 1986.