MORGAN – EXPANDING INTO NEW MARKETS
“Morgan Motor Company currently exports approximately 70% of its annual production to a worldwide dealer network, currently consisting of 15 UK dealers, 24 European dealers, eight USA dealers and six other worldwide dealers. Historically, Europe has proven to be the biggest export market, but it is predicted that, while Europe will retain this position, many emerging markets such as China, India and South America will collect a significantly larger share in the near future.
Morgan has a two stage strategy for future development. The first stage is centred on accessing new markets with the current model range and the second is to support this entry with the new Morgan 3 Wheeler towards the end of 2012. These markets, along with other emerging countries are considered to be very important to Morgan Motor Company growth and sustainability and have proven to be very successful for other British car manufacturers.
Unlike larger manufacturers, Morgan does not have the capital available to fund large product launches. Instead it relies on organic local growth with more dealer centred promotion. The local UKTI International Trade team in Herefordshire and Worcestershire have worked with Morgan for approximately ten years. Morgan have been through UKTI’s ‘Passport to Export’ development programme and are currently involved in the ‘Gateway to Global Growth’ programme. When Morgan was looking to launch the new Aero 8 model in the USA, the UKTI team managed a package of support for Morgan, from a number of organisations in UK and USA. This resulted in them launching the Aero 8 at the New York and Los Angeles Motor shows, accompanied by eight of their key UK suppliers. Morgan subsequently sold out their first year’s production of the Aero 8 in the USA. More recently, the UKTI team has assisted the company for a launch visit to China, providing guidance and Market Research to meet key partners in the Chinese Market.”