Kit cat looking for finance
partner

 

Tiger Sportscars Ltd (Tiger), the Cambridgeshire-based
manufacturer of kit and factory-built sports cars, is seeking to
introduce point-of-sale credit to increase sales of its models –
including the new auminium-bodied Tiger RS6 sports car.

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Jim Dudley, Tiger’s founder and managing director tells
Motor Finance that the RS6, an upgrade of the previous
Ford Duratec-engined R6, has an “outstanding” power-to-weight ratio
as well as the quality and the engineering feel of an all
alloy-bodied motor car – rather like the very first Lotus Seven
S1.

Indeed it was the first Series 2 Lotus Seven that brought Dudley
into car manufacturing in the first place. His career started in
the motor trade as an apprentice in 1965. After serving his time
and gaining the appropriate qualifications, he opened a small
workshop in Dartford, Kent in 1969. “I was twenty years old at the
time,” he says, “and could not resist buying my first Lotus Seven.
Although I did not at the time race the car I used to sprint it
whenever I was able.”

By 1971 Dudley was racing in saloons, rally cross and karting.
In partnership with his younger brother Phill he built up two crash
repair centres and an MOT branch in the Kent area. By 1989 he took
the plunge and formed Tiger. “I was sure that there was a good
market for kit sports cars,” he says. “Caterham had bought the
rights from Colin Chapman to produce the Lotus Seven and called
their version the Caterham Seven. I thought Tiger could do
something similar.”

Tiger’s first build was what Dudley describes as “a Ferrari
look-alike”, the Italian-inspired Tiger 164LM. However, the first
true Tiger design was the Super Six launched in 1990/91.

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A family affair

From the beginning Tiger was, and remains, a family affair.
Dudley explains that the business includes his wife Sue assuming
responsibility for parts and administration, daughter Laura
handling trim and accounts whilst son Paul works as production
manager. “At the start,” he says, “my mother, an accomplished
seamstress, used to make all the Tiger car trim, and indeed later
took Laura under her wings.”

A big breakthrough for Tiger was occasioned by the Japanese
fascination for English sports cars. In 1996 the company was
approached to produce some 70 cars over a nine-month period for the
Japanese market in a deal worth £1m. “It meant producing two new
cars a week over and above what we were already manufacturing,” he
said. “But we achieved it without any export-finance assistance
from the Department of Trade and Industry – or indeed much
financial help from any other source.”

Some 75 per cent of sales are in kit form and the remainder are
factory-built models. Dudley explains that the Tiger factory builds
all of its models for customers to their specification. “However,”
he says, “as with any quality hand-built car this takes a little
time. From customer deposit to final delivery usually takes between
three to four months depending on current order levels. As soon as
customers send us their deposit for their build [currently £2,000
for all models] the car is scheduled into the factory production.
We do not ask for any more payments until the balance is due –
usually one week before they pick up their car.”

Nor does Dudley accept that kit-building can be onerous. “You
only need common sense, and help is always at hand. One recent
customer was a doctor who had never even changed a spark plug in
his life. He built his Super Six in around the average time of 150
hours – and admitted that he found it stress relieving.”

Tiger’s vehicle range includes the basic Tiger Cat which retails
at £11,000 plus VAT factory built, the Avon at a similar price
factory built, the R6 from £14,000 plus vat and the RS6 from
£20,000 plus VAT. Under development is the ZR6, all aluminium and
supercharged and costing in the region of £25,000 plus VAT.

Bonding with a Tiger

Customers’ backgrounds vary widely but are often people who have
owned a Lotus Seven at some time in the past. There are also sales
to companies and universities. Tiger also arranges corporate days
where employees of companies can “bond” over the sport racing
experience.

Tiger Racing extends to several well-known circuits including
Brands Hatch, Snetterton, Cadwell, Lydden and Silverstone. In 2004
Tiger acquired the prestigious English Racing Automobiles (ERA)
marque. This gave the company a historic brand name that saw the
development of new models in the best traditions of British sports
and race car construction. First off the line was the ERA Single
Seater followed in 2006 by the ERA 30. Both models are now in full
production after extensive testing on both road and track.

Looking ahead, Dudley has targeted the company to retail around
200 new cars during 2008, although this does not include the used
models that enter the sales chain via part exchange. He believes
that with the correct point-of-sale finance product in place and
the ability to provide a more complete retail package, sales should
boom.