Printer Friendly

VECTOR ESTABLISHES FIRST U.S. DEALERSHIP FOR AMERICAN-BUILT SUPERCARS

 Company Plans New Models; Prestige Motors of Paramus, N.J.
 to Spearhead Northeast U.S. Sales and Service Program
 WILMINGTON, Calif., Jan. 14 /PRNewswire/ -- Vector Aeromotive Corp. (NASDAQ: VCAR) today entered into a signed agreement with Prestige Motors of Paramus, N.J., naming the mega-dealer as the supercar manufacturer's first U.S.-based dealer for the Vector W8 and Avtech WX3 models. For Vector, the announcement represents the culmination of a comprehensive dealer development study and is the initial phase toward realizing its long-term marketing and sales goals related to establishing multiple dealer points in the United States, Europe, the Middle East, Asia and South America, which will be capable of supporting Vector's planned production objectives through the 1990s.
 Prestige Motors, comprised of Mercedes-Benz, Range Rover and Lotus franchises, will take immediate delivery of a Vector W8, according to Joseph T. Dockery, president of Prestige Motors. Dockery also operates Prestige BMW and Prestige Lexus of Ramsey at separate locations.
 "This is a significant venture for our dealership and it is a real honor to be the first U.S. Vector dealer," stated Dockery, who added that he was impressed by Vector's performance, and, most importantly, the automaker's long-range business plan. "My first visit to Vector's manufacturing facility provided me with ample insight into Vector's engineering and quality production. Vector's sales and marketing programs are firmly entrenched and positioned to support an exclusive dealer network," said Dockery. "The Vector W8 and new WX3 design undoubtedly can serve as the benchmark in American supercar technology." Dockery has always been on the cutting edge of recognizing new products for enthusiasts. He is the original Range Rover, Lexus and Shelby dealer.
 Founded in 1960, Prestige Motors of Paramus reported an annual sales volume of $54 million in 1992. It is located at 405 Route 17 South, Paramus, N.J. 07652.
 Previously available to buyers directly from the factory, Vector will expedite its dealer expansion efforts into key U.S. markets. The recent opening of the Vector East Coast sales office, headed by former Rolls-Royce executive Walter H. Baell, is indicative of Vector's quality high-end market expansion program.
 Robert Braner, Vector's vice president of marketing and dealer development, stated that Baell's responsibility as national sales, service and parts manager, is the basis for the implementation of a dealer program that calls for strategic alliances with established, respected and profitable dealerships that are capable of providing the necessary support for Vector Aeromotive's supercar niche market. Additional regional U.S. and foreign dealers will be announced quarterly through the end of 1993.
 "Although the Vector aerospace engineered luxury supercars will now be available through dealerships, many buyers are still expected to visit the manufacturing facility to witness actual production," said Braner. "Vector is unlike any car manufacturer. Touring the Vector facility is comparable to touring a mini Lockheed or Boeing aircraft manufacturing plant. The hand craftsmanship and the intricate detailing is only a part of the substance and technology that separates Vector from foreign manufacturers. Even without a test drive, this vehicle sells itself," he added.
 International Market Remains Lucrative
 Although most sales efforts for 1993 will concentrate primarily on the North American market, the stage has already been set for Vector to become an international player in the supercar arena.
 Internationally, Vector has established alliances with Hooper & Co. in the United Kingdom and Noble Auto of Singapore to cover certain countries in the Southeast Asia market. Meanwhile, Noble Auto has appointed Pt. Golden Gate to serve as its sub-distributor in Jakarta, Indonesia.
 Third Vector Model in Development Stage
 To facilitate future growth, Vector is in development to provide a line of less-expensive, Vector-engineered automobiles. While pricing platforms have not yet been committed, Braner confirmed that the company is closely studying entry-level price points for a new Vector model that will appeal to a new generation of Vector buyers. The all-new model, dubbed the WX3-R, is scheduled to make its world debut at the New York International Auto Show in April.
 "The WX3's successful international introduction generated significant sales interest in this new Vector model. The Avtech WX3- R incorporates new, but familiar aerodynamic lines, yet offers added dimensions," said Gerald A. Wiegert, Vector's chairman and designer. "The initial development stages have been completed and we're now in the full scale final prototype stage for the exciting third model."
 In keeping with the Vector design philosophy, the WX3-R will incorporate many of the same NASA-derived technology features as the W8 and WX3, but will be substantially different relative to styling, performance and price. "We envision carrying the distinctive unmistakable Vector design appearance throughout a full spectrum of automobiles," added Wiegert.
 The company's flagship model, the Vector W8 has received confirmed independent performance tests of zero to 60 mph capability of 3.5 seconds. Its 625 horsepower engine is capable of propelling the W8 to speeds of up to 218 mph. The Vector W8 holds the distinction of being the most powerful American car to be U.S. DOT/EPA and CARB certified.
 The Vector WX3 represents an evolutionary progression of the company and is not a redesign of the W8. Boasting a powerful proprietary 7-liter, 4-valve, all-aluminum V-8 engine, the WX3 is capable of producing 850-1200 horsepower with more than 800 ft/lbs of torque.
 Vector Aeromotive Corp. is the only U.S. EPA/DOT-certified supercar manufacturer.
 -0- 1/14/93
 /CONTACT: Robert Braner, VP of Vector Aeromotive, 310-522-5500, or (fax) 310-835-2887; or Barry Toepke of Gaylord PR, (media relations) 916-446-9800, or (fax) 916-446-9890; or Jim White of Kehoe, White, Savage & Co., (investor relations) 310-437-0655, or (fax) 310-435-8911; both for Vector Aeromotive/
 (VCAR)


CO: Vector Aeromotive Corp. ST: California, New Jersey IN: AUT SU:

BP-EH -- LA002 -- 4696 01/14/93 08:02 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 14, 1993
Words:956
Previous Article:THE COCA-COLA COMPANY ANNOUNCES DECEMBER UNIT VOLUME SURPASSES ESTIMATES
Next Article:KASLER CORP. MAKES ANNOUNCEMENT ON THE $51.4 MILLION POMONA INTERCHANGE PROJECT
Topics:


Related Articles
VECTOR AEROMOTIVE RETAINS CHATFIELD DEAN AS INVESTMENT BANKERS - KANSAS CITY INVESTMENT BANKER LOVES HIS VECTOR -
VECTOR AEROMOTIVE AND HOOPER & CO. (COACHBUILDERS) LTD. ANNOUNCE STRATEGIC ALLIANCE TO SELL AND SERVICE VECTOR W8s
VECTOR SHIPS $800,000 WORTH OF SUPERCARS TO U.S. BUYERS; NEW INTERNATIONAL MARKETING PROFESSIONAL AT VECTOR
VECTOR SHIPS $800,000 WORTH OF SUPERCARS TO U.S. BUYERS; NEW INTERNATIONAL MARKETING PROFESSIONAL AT VECTOR
VECTOR NAMES DISTRIBUTOR IN SOUTHEAST ASIA; DOMINATES SUPERCAR MOTOR SHOW IN SINGAPORE; READIES CARS FOR DECEMBER SHIPMENT
NASA 2002 TECHNOLOGY SHOW PREMIERES VECTOR AVTECH WX3 250 MPH SUPERCAR TO TOP AEROSPACE INDUSTRY LEADERS
$152,000 AWARDED TO VECTOR BY STATE OF FLORIDA TRAINING PROGRAM
VECTOR ANNOUNCES THE SALE OF THE FIRST PRODUCTION M12 SUPERCARS
American Honda Files Lawsuit Against Republic Industries

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters