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Anonymous

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Andy Downes  says:

Norton granted £625,000 government-backed loan

British bike firm Norton has been granted the first of a new government-backed trade loan after a visit today by Business Secretary Vince Cable at the Donington Park HQ. The loan is the first of its kind and has been made under the Exports Enterprise Finance Guarantee Scheme (ExEFG). The funding will support the company’s plans to increase production to 1,000...

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  • Posted 4 years ago (01 August 2011 17:49)

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LaughingGas

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Oct 08

Posts: 262

LaughingGas says:

Is Norton a true British Company??

Is Norton a true British Company ??

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pete7k

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May 11

Posts: 17

pete7k says:

bring on street-scrambler

Good luck to the team here and it is great to see the Norton name being kept alive. Personally I think instead of a performance bike, a more all round bike would be more appropriate given: 1. as a 'sports' bike it will struggle to beat Ducati/MV offerings 2. the target market(ageing and affluent), will often not be able to use a'sports' to the full anyway (having passed Desmosedici in IoM on my TDM!) 3. the Triumph scrambler is a very attractive package, I believe and a lighter, more upmarket offering may find more buyers for Norton who would still pay a premium price 4. the tall rounder/crossover/Tiger/TDM/GS marker seems to have more long term future across the board, so why not in the premium, low volume market as well In conclusion, bring on the 'Street Scrambler' version, silver grey with black and red Norton pin striping, and offer some luggage fixings and I would be interested. Pete (OAP but young at heart)

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ducatigav

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Feb 10

Posts: 159

ducatigav says:

like it  now norton any chance of a job

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dmacken

Joined:

Jun 04

Posts: 1

dmacken says:

The state of Norton

Having read the two articles on Norton in this week’s edition, I would like to express my simultaneous support and disappointment at Norton. I manage my own business and see all of the classic signs of mis-management.
I have ordered and cancelled a Café Racer and lost money in the process.
The  main article did not mention that the EFG scheme uses tax payer money to  guarantee 75% of the loan,  with the bank only liable for 25% in the event of failure.  Remember this is not 625,000 it is a line of credit worth £7.5m Additionally the bank usually seeks security on its 25% making its exposure relatively small.  This being the case I think that the taxpaying biker community should keep pressure on this company to perform well. 
Kevin Ash may want to celebrate their success, however Norton need to show better management of their business before they are rewarded with such a celebration. The fact that they are a manufacturing start-up that failed to anticipate supply problems indicates a level of naivety that is, well, embarrassing to say the least. Norton need better management, better communications, improved customer service – the British bike industry once failed because of poor management , I think there are some worrying signs here. Let us all support them but not lose sight of the fact that they have already messed up seriously.  A more humble Stuart Garner would be a welcome sight.
I will re-order when I can call Norton and have the phone answered quickly, be put through to someone who can genuinely help and when there is a clear policy of being accurate with delivery dates. This is a multi million pound business that the UK could and should be proud of. So rather than chastise them, let us keep the pressure up so they sort out their problems. Now that they are beholding to the tax payer they are accountable to all of us. I genuinely wish them the very best and do intend to be a customer one day.
Ps:
Briefly, my story is as follows: Like many I placed an order in Nov 2009 at the launch event in the NEC.  I paid a deposit and was promised an April 2010 delivery.  Since that time Norton have never proactively communicated with me. I ended up cancelling in Sept 2010 after seven phone calls (initiated by me) where I was advised that the bike would be built “next month” or “in two or three weeks”. Stories of parts not being available, approval problems and so on abounded. As soon as I cancelled,  I was sent an official document saying my bike, which was a very low build number, would be built imminently and that I should pay the  remainder immediately. This can only have meant that some poor soul ahead of me in the queue had been bumped. (In earlier conversations they had promised they were shipping in strict order and that the “he who shouts the loudest” rule did not apply here … really ?.) Of course I lost my deposit, something that would not have happened had the bike been from BMW (at a similar price) who have a clause that allows the return of the deposit if they create undue delays.

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am77gav

Joined:

Aug 11

Posts: 1

am77gav says:

Norton Customers Beware

I feel sorry for all those people who are losing their money... £16k is a great deal of money to be out of pocket.. See this consumer action group website: http://www.consumeractiongroup.co.uk/forum/showthread.php?313658-Norton-motorcycles-warning

I hope all Stuart Garners customers get what they paid for or their money back... but I wouldn't be surprised if they dont... you only have to have a look at their company accounts (publically available for a few quid) to see this company has problems - and a majorly high turnover of staff!


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