22 May 2000

Recently knighted entrepreneur Sir Richard Branson today accelerates into car retailing, promising prices up to 40% lower than those currently on offer. The claimed average saving will be 22% on current UK recommended prices.

The new venture, Virgin Cars, will trade via the internet, particularly targeting female buyers. The vehicles will be sourced direct from manufacturers including Ford, Vauxhall and Rover – and delivered to customers’ doors. Says Ian Lancaster, Virgin Cars’ chief executive: "Buying and owning a car will never be the same again. We are not just about bringing down the price of new cars - we are going to change the marketplace. We will take the pain from buying a car and remove the hassle of owning it."

All vehicles will comply with UK specifications and Virgin also offers special financing options plus an aftersales and servicing programme.

News source: BBC Online Business News (UK)