Charles MorganWhether the board of the Morgan Motor Company was justified or not in ousting its former chief executive from its ranks, you could understand that Charles Morgan might take a defiant stand. He is, after all, the grandson of the company's founder, and before the board stepped in, it was his show to run. But don't expect Charles to be starting up a rival outfit any time soon.

Rumors of Charles' possible intentions emerged after he reportedly indicated that he wanted to "stay involved in the car industry". But when contacted by Autocar for comment, Charles kiboshed the idea of establishing a rival operation. For one thing, Charles remains a major shareholder in the company he used to run. For another, he says there's just not enough room in the industry to support two Morgans.

He may be right, particularly with niche automakers across the UK and Europe going belly-up. Just don't tell that to the people behind Castle Three, which aims to take on Morgan in the retro three-wheeler business.