Rover's Return

The financial community reacted with skepticism last May when, after six years of losses totalling $1.24 billion, BMW sold the British automaker Rover to four businessmen. Even the new owner's chosen name — the Phoenix Consortium — seemed little more than wishful thinking for a company that hadn't turned a profit since 1994. But now the trimmed-down, reconfigured Rover is about to announce some surprising financial details: losses were cut to $424 million in the last fiscal year, and management expects to halve them this year en route...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!