Currently reading: Jaguar Land Rover seeks bail-out
JLR's boss calls for Government aid

Jaguar Land Rover is reported to be seeking a £1bn emergency loan from the UK government as sales of the company’s vehicles continue to drop.

According to reports over the weekend, JLR is said to have already submitted the request, and the Government could make a decision on whether to back the company within two weeks.

JLR’s CEO, David Smith, has already publicly suggested that UK car manufacturers should get government support to help them through the economic downturn.

“Unless we introduce further measures to reignite the UK economy, there is significant risk," he said in October, after meeting Gordon Brown to discuss the state of the UK car industry.

JLR would not comment on the reports, saying only that it would not be drawn into speculation.

Land Rover sales have been particularly badly hit, with a 37 per cent drop in the US for the first ten months of this year and a 27 per cent fall in the UK over the same period.

Dan Stevens

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Cabco 26 November 2008

Re: Jaguar Land Rover seeks 'emergency loan'

I think that JLR have spent too many years overpricing their product. If they sold their vehicle on a cost + profit basis rather than a what the market will bear, they wouldn't have so many stuck in fields awaiting sale. If the recession gets much worse who can afford these vehicles. Make your product truly desirable then price it to sell it.

North 25 November 2008

Re: Jaguar Land Rover seeks 'emergency loan'

I agree, no one has said what about technology firms? their are lots of up and coming technology firms that if JLR got £1bn UK money, then those technology firms would not get it.....therefore you end up supporting a firm such as JLR that got its strategy and developments wrong and who did not make the most of all the money Ford throw at it for years..........against all the wonderful new UK technology firms coming through with great products that have struggled getting money for years...the new budget helps the small firms and technology companies (including start ups)-------fantastic!!!! and the VAT cuts will help on large ticket items........such as Jags (if people still want to buy them)

For JLR to ask for more money is not on and should not occur, we cannot divert money away from technology companies to prop up JLR.........no way...TATA owner has a huge personal fortune.........put his money where his mouth is and put his own money into it.......he bought the company........if he is so confident stick his own money in like many MDs of UK technology businesses have too........lets see how confident he is with his own money!.......but everyone should support UK Technology firms......there are some cracking ones out about!!!.....do not divert cash away from those firms......with £1bn you can help literally 10000's of technology firms employing more people than JLR and with further ability to grow, development and employ even more people......support UK technology firms.....as said do not divert money away from them for JLR.......no way

alexthelion 25 November 2008

Re: Jaguar Land Rover seeks 'emergency loan'

Governments cannot keep propping up car companies... It is not fair when the money can be spent in areas much more needing it... The market needs to dictate what happens...