Insider Media Limited

Sales of Manganese Bronze Holding's London taxi cabs have dropped by 5.2 per cent in the UK for the first quarter of 2011. The Coventry-based company said taxi driver earnings and confidence had been "negatively affected" by the economic climate.

The results were announced through an interim management statement for the period 1 January to 16 May 2011.

Manganese Bronze produced 524 vehicles compared with 553 in the comparable 2010 period.

UK trading in March and April was impacted with taxi driver earnings and confidence "negatively affected by generally lower disposable income, higher fuel costs, concerns about job security and the potential impact of public sector spending cuts", said the company.

However, overall vehicles sales (including international sales) for the four months to the end of April were up 10.1 per cent, to 686 vehicles (2010: 623 vehicles).

In a statement, Manganese Bronze said: "International sales orders for 2011 are now over 1,300 and well ahead of the expectation of 1,000 units set at the start of the year.

"Sales in other international markets already exceed last year's total. Demand from customers in the Middle East currently remains strong, but recent unrest in the region may negatively impact sales prospects in the coming months."

Ventures with Geely Automobile Holdings and Shanghai LTI Automobile Components Company continue to be very positive, said Manganese Bronze.

The company said it will continue to collaborate with Geely senior management to develop the launch plans for its saloon car based-taxi scheduled for introduction in 2013.