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TGB Goes Belly Up?

Last post 01-01-2009 09:11 AM by allen. 6 replies.
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  • 12-24-2008 10:39 AM

    TGB Goes Belly Up?

    Whats going on here?..Australia's 5 largest 2 wheel importer crashes under the strain of bad credit choices when the motorcycle/scooter industry is seeing unparralleled growth..Someone in this company really got it wrong with their cash flow projections or did this company suffer from the GREED affliction that pervades a growing industry.

    Am I pevved...you bet, you see I have a 101S that is just 9 mths old with 4000 on the clock and it recently suffered a minor carburetor problem and all I needed was a new gasket..do you think I can get one..No way and SCP don't even acknowledge the problem..With the administrators winding up the company by January's end..I may as well burn this fine Korean machine and buy something that hopefully will honour the FULL 3 years warranty and provide parts for at least the service life of the machine.

     Glad I didn't buy a $20000 Benelli

    Fools are Tools..
  • 12-24-2008 10:50 AM In reply to

    Re: TGB Goes Belly Up?

    Yeah I know many would be reluctant to invest at the moment but I'm sure it would be possible for someone/some company to see the value of at least taking over some of SCP's  popular makes in this climate. I'm sure the level of uptake of two wheelers will at least remain relatively steady. 

    Maybe they're just waiting till the end of Jan to get the best possible deal.

    I would hold off on burning it though, Im sure you could approach Domino's if you need some sparesBig Smile

    The Benelli or Moto Motrini mightn't be as easy though.

  • 12-24-2008 02:41 PM In reply to

    Re: TGB Goes Belly Up?

     Read the other thread on this subject.   With the likes of GE pulling out of vehicle financing,  it's not necessarily SCP fault,  MAYBE it's just a reflection of the world wide credit squeeze coupled with the possibility that SCP had insufficient capital to weather this sort of storm.

    I'm lead to believe the administrators have two bids for SCP and they are currently reviewing the bids.   So perhaps all is not lost.

    Deklan 

    “It’s not the destination but the journey”
    Vespa GT200 in Grigio (Smokey Grey)

  • 12-24-2008 02:56 PM In reply to

    Re: TGB Goes Belly Up?

    I put a post up a few days ago about the whole SCPS situation, it's under the thread 'The first importer hit by global economic problems'. I also have a (Taiwanese) TGB, so have been closely following what's happening.

    My local dealer is working with the Administrator of SCPS & is basically trading 'as usual', ie so far no probs getting parts (for warranty work or not). To summarise my other post, there are apparently 2 companies currently fighting over (new) ownership of SCPS, which is why it's taking longer than expected to sort things out. Throw in Christmas close-down of just about everyone & you can see why Jan is looking like a fair estimate of when the mess will be resolved.

    Given how much I love my 303RS, there's no way I'd be trashing it now or anytime soon. Give it a little more time as it sounds like it should be a happy new year for all of us currently stuck in limbo. PP

    Proud owner of a beautiful blue Derbi Rambla, still not sold on a name... Need suggestions!
  • 12-29-2008 01:19 PM In reply to

    • allen
    • Top 10 Contributor
    • Joined on 07-19-2007
    • Sydney NSW Australia
    • Posts 6,248

    Re: TGB Goes Belly Up?

    Somebody in the end will pick up these brands but it may just take shape in a different form

    nobody will really want parts of the SCPS business as they were just tough work i.e Benelli Bikes , Moto Morini for example were just not selling in any quantity. It was pretty dismal with the sales within these brands

    But when you look at TGB , benelli scooters , sachs bikes and scooters etc you really see a chance for something big and these are the things that will certainly have a future here. 

    So expensive credit along with a lack of premium sales and huge investment in future products all went along to causing the downfall.  A stop supply of sachs bikes from the chinese supplier as they got things in order all contributed. So yes you could say a multitude of things happened here and even some poor decisions on product were made also. But there was also so much good including some future items that all would have been huge sellers.

    So if you own a TGB I think you would be safe in the knowledge that we will see it in some shape or form. The next few months will shape what happens and time will tell if we see a buyer or if we see liquidation but I am sure the good bits will see a future.  My guess is Feb 08 we will see a resolution on SCPS. So hang tight and remember if you need anything for your scooter and its in stock (that is the key) then you can still get it.

    if it needs to be ordered then you are stuck but make sure your dealer can check out alternative suppliers,models etc etc.

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  • 12-31-2008 11:14 PM In reply to

    • Mitch
    • Not Ranked
    • Joined on 12-16-2008
    • Northwest Tas
    • Posts 2

    Re: TGB Goes Belly Up?

    allen:

    Somebody in the end will pick up these brands but it may just take shape in a different form

    nobody will really want parts of the SCPS business as they were just tough work i.e Benelli Bikes , Moto Morini for example were just not selling in any quantity. It was pretty dismal with the sales within these brands

    But when you look at TGB , benelli scooters , sachs bikes and scooters etc you really see a chance for something big and these are the things that will certainly have a future here. 

    So expensive credit along with a lack of premium sales and huge investment in future products all went along to causing the downfall.  A stop supply of sachs bikes from the chinese supplier as they got things in order all contributed. So yes you could say a multitude of things happened here and even some poor decisions on product were made also. But there was also so much good including some future items that all would have been huge sellers.

    So if you own a TGB I think you would be safe in the knowledge that we will see it in some shape or form. The next few months will shape what happens and time will tell if we see a buyer or if we see liquidation but I am sure the good bits will see a future.  My guess is Feb 08 we will see a resolution on SCPS. So hang tight and remember if you need anything for your scooter and its in stock (that is the key) then you can still get it.

    if it needs to be ordered then you are stuck but make sure your dealer can check out alternative suppliers,models etc etc.

                Peugeot, TGB, Sachs and Benelli....  No warranty and no spares back up is now what these brands mean for the owners
  • 01-01-2009 09:11 AM In reply to

    • allen
    • Top 10 Contributor
    • Joined on 07-19-2007
    • Sydney NSW Australia
    • Posts 6,248

    Re: TGB Goes Belly Up?

    Mitch:
      Peugeot, TGB, Sachs and Benelli....  No warranty and no spares back up is now what these brands mean for the owners
     

    It certainly does right now, give it a month and we will all know what is happening  

    Advertise your scooter for FREE on Scootersales.com.au
    www.scootersales.com.au
    www.quadsales.com.au
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