Jaguar Land Rover against a government bailout

Posted on Saturday, 24 January 2009 , 12:01:34 byEmil

Filed under jaguarlandrovergovernmentbailoutjlrJaguarLand Rover

Jaguar Land Rover against a government bailout

With this global economy stumbling, many carmakers seeks some financial backing coming from their governments. The United Kingdom`s Jaguar Land Rover`s not supporting a government bailout, having the hope to find a solution that`s better.

Although hard money will keep a door open for automaker, JLR admits that some bailout does not attack the problem essence – the collapsing sales. So, JLR wants that the British government focuses on getting the credit to clients and not keeping life support for the carmakers. 'We are clearly in very difficult times, in difficult trading conditions' David Smith – CEO of Jaguar Land Rove told Sky News. 'Unfortunately, what we’ve got now is a situation where consumers aren’t spending and consumers aren’t lending, so it’s a double whammy'.

Smith, alongside with other representatives of the car industry, will be meeting next week the British government discussing a few issues, including encouraging buyer spending and the security of British jobs.