IM is over. Post from Henry.

A sad day, indeed.  Intermeccanica will be missed.  I am glad I had my IM6 built a few years ago.

You can read more here:  https://www.facebook.com/groups/1749286561969192

Wow.  A few years ago if you'd asked me if I thought IM would just fade out like this I would have said "No way!"

So what’s the skinny on this? IM had to attract some extra cash to get the electric side going and the new corporate overlords decided the little plastic cars were a distraction?

as i got older, loved the business I started but got tired and sold out to enjoy life while im still around,,lovin life now:}

@Bob: IM S6 posted:

A sad day, indeed.  Intermeccanica will be missed.  I am glad I had my IM6 built a few years ago.

You can read more here:  https://www.facebook.com/groups/1749286561969192

I followed the link and the page says it is private and for members only so I couldn't read anything.

I'm glad we still have Beck/Special Edition. IM will be missed for sure.

Don’t forget Vintage Motorcars.
I think I’m going to call IM and see if they have any extra parts laying around like the mechanism for a Conv D soft top. 🤔

@Robert M posted:

I followed the link and the page says it is private and for members only so I couldn't read anything.

It's 'Friends who like Intermeccanica', on Facebook.   I guess it's private, but I thought it could be viewed openly, but not posted on.

Mea Culpa.

@dlearl476 posted:

So what’s the skinny on this? IM had to attract some extra cash to get the electric side going and the new corporate overlords decided the little plastic cars were a distraction?

A little simplified, of course, but from my understanding, that's about it.

@ALB posted:

A little simplified, of course, but from my understanding, that's about it.

So sad.

End of an era. Sad for the hobby as a whole. And an opportunity for Beck and Vintage.

Carey is definitely stepping up to the plate developing his new 911 powered 356. If you build it they will come. Obviously Greg Leach also will help fill a void with his 356 Pre A coupe. I think that we will all be fine. I owned an intermeccanica Conv D for 3 years. Currently building a Beck (Carey) Conv D and I expect the build quality to match my intermeccanica.

With the popularity of Speedsters and prices skyrocketing (along with IM being at or among the pinnacle of producers) you'd think there would be someone to step in or sell that branch of the business to....

Well the end of IM as we knew is here.  It is a sad day for us that loved the work they did.  Thank you for the products and thank you to the whole Team from IM:  Henry, Robert, Kevin all great people that I got to know and appreciate. They will be missed!  
I guess our IM’s will be the last versions that we can savour and enjoy and drive into the sunset…. which reminds me that for some that may be sooner than later … just kidding

update :    I do think south of the 49th there are great builders stepping up to the plate and growing their offerings to stellar levels. Allow us to reminisce a little for the Eh guys

What happened to all the workers building the IM’s?  Maybe an opportunity for a startup?

@WNGD posted:

With the popularity of Speedsters and prices skyrocketing (along with IM being at or among the pinnacle of producers) you'd think there would be someone to step in or sell that branch of the business to....

I haven't talked to Henry, but I know a couple of people connected with the company and it's my understanding that the present CEO and board weren't interested in the fact that the replica part of the business was actually profitable; they wanted (for whatever reason) to completely distance themselves from building ICE cars and the easiest way was to just shut it down.

I don't know Henry well, but something tells me he's not done...

PS- @LI-Rick- There weren't as many guys working for IM as you'd think- I don't know their exact sales figures, but I think it was in the neighborhood of 1-2 a month, so the people they had did a number of different things.  Again, it's my understanding that 1 or 2 guys, as soon as they heard it was being shut down, just up and left and being the skilled professionals they are, were working within a couple of days.

If that is true he might have a non compete clause that would prevent him for 5 years to be involved in such a venture but ´I know nothing ´´

@ALB posted:

I haven't talked to Henry, but I know a couple of people connected with the company and it's my understanding that the present CEO and board weren't interested in the fact that the replica part of the business was actually profitable; they wanted (for whatever reason) to completely distance themselves from building ICE cars and the easiest way was to just shut it down.

I don't know Henry well, but something tells me he's not done...

PS- @LI-Rick- There weren't as many guys working for IM as you'd think- I don't know their exact sales figures, but I think it was in the neighborhood of 1-2 a month, so the people they had did a number of different things.  Again, it's my understanding that 1 or 2 guys, as soon as they heard it was being shut down, just up and left and being the skilled professionals they are, were working within a couple of days.

I don't know their sales figures but I have a very hard time believing it was just 1-2 units per months with other manufacturers quoting a 2-3 year lead time. But wdik?

Any time you were in Henry's shop, there were about 3-5 cars in various stages of build.  He was not a high volume builder, but high quality.

@IaM-Ray posted:

If that is true he might have a non compete clause that would prevent him for 5 years to be involved in such a venture but ´I know nothing ´´

I'm no lawyer, Ray, but usually there's no non-competition clause if you're let go.

@LI-Rick- a friend has built all of IM's transaxles for 8 or 10 years now and it just wasn't as high volume as you'd think.

Well when you sell your business in this case IM to EM they had one for sure, he was obviously a key player in the game with specialized knowledge and competitive information that might be deleterious to a new buyer, but who knows what the terms of his sale or his employment were.

In general not for physicians. If you quit or you are fired non completes are usually still binding. If you want to lawyer up I’m sure your chances are better if you are fired.