Financial news

Dealer of Ford Has Fallen Under Suspicion

04 мая 2009 г.

Over a month “TDV-Auto” clients cannot get prepaid cars. The information that company “Ford Centre Grazhdansky” (“TDV-Auto” affiliated) delay car delivery is confirmed by the Sales Director of one of the “Alarm Motors Ford”, Mr. Michael Shevelkov as well as by the representative of one of the partners of the above mentioned company, who has wished not to name himself.

Single delays are admitted by the company, but they are assured not to be relayed to financial difficulties. “TDV-Auto” is one of the senior companies in the market, as they became Ford dealers already in 1991. Controlling interest is owned by the chairman of board of directors “TDV-Auto”, Mr. Victor Vajsberg , as well as those  British, Belgian and Luxemburgian companies 80 % of shareholdings belong to. By the way, Mr. Victor Vajsberg is a native brother to Mr. Leonid Vajsberg, the general director of the “Mechanobr Technic ltd”. The rest 20 % belong, to one of the honoured top-managers in the automobile market, Mr. Boris Rydaev, the co-owner of “Peter-Lada ltd.”

The Dealer of Ford has fallen under suspicion. The delay schemes, described by buyers, is similar to the recently occurred situation with “Fast Motors” company, when clients were demonstrated cars on stock specified its unique number - VIN in the contract. But then, referring to that the importer picks up transfer of the vehicle passport, the dealer postpones the delivery of the car. “If the dealer transfers money for the car they receive vehicle passport in maximum 3 days ", - says the PR-director of Ford Russia Mrs. Ekaterina Kulinenko. If  “TDV-Auto”, - considers Mrs. Kulinenko, - declares other terms it means that the clients are given the incorrect information. “Average term of full-paid car delivery is maximum 10 days. The prolongation, as a rule, points out that the dealer is sufficient of operating assets, - explains Mr. Michael Shevelkov – Essentially there is nothing terrible, but an inconvenience for a client, the dealer pays off for earlier purchased cars with money of following buyers ".

Such schemes worked only during the period of the market growth, but now when slumping sales, maturity is prolonged as well. “TDV-Auto” is a reputable company, - says the owner of the show room “Shuvalovo-Motors” Mr. Oleg Shumsky. - but now there is a crisis which is felt by everyone, thus delays in vehicle passport reception may speak for the forthcoming crash as it was with “Fast Motors” or “Elecks Polus”. Reduction of operating assets in “TDV-Auto” might have occurred because of $ 15 million debt service, loaned in 2008 when constructions of a new show room “Ford Centre Grazhdansky”. The pay-off period is - 5 years under the circumstances of 4 thousand vehicles sold per year. Crisis has corrected figures, and that might have affected the financial situation  even in such  a large company.

 

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