Although the TF was Britain’s top selling convertible initially, MG was in financial ruin and went into administration in 2005. Production stopped accordingly and soon after MG was acquired by Chinese automotive company Nanjing Automobile for USD97 million. Then in 2007 Nanjing Automobile was acquired by SAIC Motor (Largest car manufacturer from China) and as a result you now have MG Cars known as MG Motor UK Limited.