Veros: Difference between revisions
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| type = | | type = [[wikipedia:Public company|Public company]] | ||
| traded_as = [[Arimathea Stock Exchange|ASE]]: VMC | |||
| founder = | | founder = | ||
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| industry = [[wikipedia:Automotive industry|Automotive industry]] | | industry = [[wikipedia:Automotive industry|Automotive industry]] | ||
| products = {{unbulleted list|Automobiles|Electric vehicles}} | | products = {{unbulleted list|Automobiles|Commercial vehicles|Electric vehicles}} | ||
| production = {{increase}} 603,372 (2023) | | production = {{increase}} 603,372 (2023) | ||
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The '''Veros Motor Company''' ([[Trellinese language|Trellinese]]: ''Qükran Saikrivëqa Veros'', commonly known as '''Veros''') is an [[Arimathea]]n automotive manufacturer headquartered in [[Tythim]]. It is Arimathea's largest automotive company, producing 600,000 vehicles per year. In addition to passenger cars, Veros manufactures light commercial vans | The '''Veros Motor Company''' ([[Trellinese language|Trellinese]]: ''Qükran Saikrivëqa Veros'', commonly known as '''Veros''') is an [[Arimathea]]n automotive manufacturer headquartered in [[Tythim]]. It is Arimathea's largest automotive company, producing 600,000 vehicles per year. In addition to passenger cars, Veros manufactures light commercial vans and owns 40% of [[Trellin]]ese tractor manufacturer [[Forit Tractors]]. It is listed on the [[Arimathea Stock Exchange]] and is a constituent of the [[ASEX 50 Index|ASEX 50]] stock market index. | ||
==History== | ==History== | ||
Revision as of 05:14, 6 March 2024
.svg){kind=logo} | |
Native name | Qükran Saikrivëqa Veros |
|---|---|
| Public company | |
| Traded as | ASE: VMC |
| Industry | Automotive industry |
| Founded | 14 June 1974 |
| Headquarters | Tythim, Arimathea |
| Products |
|
Production output |  603,372 (2023) |
The Veros Motor Company (Trellinese: Qükran Saikrivëqa Veros, commonly known as Veros) is an Arimathean automotive manufacturer headquartered in Tythim. It is Arimathea's largest automotive company, producing 600,000 vehicles per year. In addition to passenger cars, Veros manufactures light commercial vans and owns 40% of Trellinese tractor manufacturer Forit Tractors. It is listed on the Arimathea Stock Exchange and is a constituent of the ASEX 50 stock market index.
History
Veros was established in 1974 when the Arimathean state divested the Tythim Motor Corporation, selling it to a consortium of private enterprises and investors. Veros's predecessor was the largest employer in Tythim into the late 1950s but ran up steep debts as its sales dropped off due to a combination of poor reliability and increased foreign competition. The company's later cars were harshly criticised for their sluggish, fault-prone engines that meant the cars were "no fun to drive on the rare occasions they left the garage." The government intervened to prop the company up in 1960, cutting costs by scaling production dramatically back. The company's facilities, including a 60-acre factory, were retained amid the downsizing. When the Tythim Motor Corporation was put up for sale in 1974, the factory was the most valuable element of the portfolio.
Under its new ownership, the Tythim Motor Corporation underwent a swift volte-face in an attempt to rebuild its domestic reputation. To this end, the company hired experienced foreign engineers to design cars that prioritised reliability and could be affordably mass-produced. The company rebranded itself as Veros, a name that was "intended to evoke modern sentiments favouring fidelity and ferocity." The marketing agency that selected the name and designed its first emblem chose the name Veros, they said, because it sounded like the Latin words verus, "true," velox, "fast," and ferox, "fierce." The company's first new car, the Veros Marca, came off the production line from July 1977, priced at $1400 for the base model, and sold 24,000 units in its first six months
Motorsport
Veros is a major sponsor of The Sedges, a racing circuit outside Tythim that hosts the Arimathean Grand Prix, since 1974, and numerous other races.