Source: [Automotive News Europe via MotorAuthority]
Tuesday, November 25, 2008
Report : Jaguar-Land Rover in secret aid talks with UK Government
According to Automotive News Europe, Jaguar-Land Rover CEO David Smith is secretly in talks with UK's Prime Minister Gordon Brown for a government financial aid. That's because, after the 19.4% sales decrease in August, Jaguar-Land Rover have lost £1 billion ($1.49 billion). And Tata Motor Company, which owns Jaguar-Land Rover isn't in the best condition to support Jaguar-Land Rover. So it seems that the British government will be covering Jaguar-Land Rover's loss.