Jaguar Land Rover to ask for Government ‘bail out’
With the widely publicised economic slowdown making times tough for even the largest car manufacturers, the Jaguar Land Rover group has become the latest company to press for government support, with reports that the JLR is group is seeking a £1bn financial ‘bail-out’ from the UK government.
Only a few months following the purchase of the two marques from Ford, and despite huge amounts of money and manpower being invested by the parent company Tata, sales of the two marques have been hit badly, particular of Land Rover vehicles, which have nose-dived sharply during 2008.
With the Jaguar Land Rover group being smaller than many of its prestige rivals, and the large, oil burning engine ranges being hard hit by fuel increases and EU targets on carbon emissions, it is believed that the company hopes the ‘bail-out’ will enable the company to improve its liquidity in the automotive supply chain, and enable the development of more environmentally-friendly vehicles to shape the company’s future, as the group looks to keep up with its rivals including manufacturers such as BMW, who have helped pioneer new green technology.
The news will re-ignite debates on the future of the group, and how it can adapt to meet the needs of the car buyer of the future, and whether it is correct to bail-out such companies in the event of such a slowdown. However, at the forefront of both the Jaguar Land Rover group, and surely of the UK government, is that a repeat of the catastrophic end of MG Rover in 2005 must be avoided at all reasonable cost.
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