Tony Fernandes sells Caterham Cars to Japanese group

LONDON: Caterham Cars has been acquired by Japan-based automotive group, VT Holdings, from AirAsia's Tony Fernandes and Kamarudin Meranun.

The company assumes custodianship of the legendary British sportscar brand having been the Japanese importer for the Seven since 2009, where it currently sells over 120 cars annually.

Financial details were not disclosed.

As one of Japan’s largest retailer groups with over 200 showrooms nationwide and investments in UK, Spain, Thailand and South Africa, VT Holdings is also the importer for a collection of two and four wheeled brands including Royal Enfield and Lotus in its home-market.

Motorsport, and the global track-day communities, have always played a central role in Caterham’s commercial success. The brand now joins a group led by chief executive, Kazuho Takahashi, who also raced competitively in JGTC, Super GT and Super Taikyu championships for the past 20 years.

“VT Holdings is proud to welcome Caterham to the group. We have not only purchased a globally renowned performance car manufacturer but become custodians of a motoring legend. We will protect and develop the Seven to meet the legislative challenges that lie ahead,” said Takahashi.

Caterham Cars CEO Graham MacDonald said: "As a team, we’re all excited about starting to write the next chapter for this very special brand.”

Caterham Cars sell to 20 markets globally with exports accounting for 60% of its annual new car sales volume.

Fernandes and Kamarudin are respectively the CEO and chairman of budget airline AirAsia.