Jaguar/Land Rover asking UK gov't for money

Filed under: Government/Legal, Jaguar, Land Rover

Jaguar and Land Rover are having a Hell of a time trying to sell luxury vehicles in this armpit of a global economy, and parent company Tata Motors is looking for a big-time loan to keep the British Marquees afloat. In all, Tata is seeking £1 billion from the British government to to help pay the bills. That's a fairly large sum considering that it represents £67,000 to each of the British marquees 15,000 workers in the UK. Prime Minister Gordon Brown is said to be close to a decision regarding the loan, though it's likely the money would come with a stipulation that protects workers in the UK.

We'd say that sales at Jaguar and Land Rover vehicles are in really bad shape, but the truth is that we don't even know how bad things have gotten. Tata has decided to stop providing US sales data for its struggling luxury brands.

[Source: Drive]

Jaguar/Land Rover asking UK gov't for money originally appeared on Autoblog on Mon, 24 Nov 2008 09:58:00 EST. Please see our terms for use of feeds.

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