Tata Motors asks for loan to keep Jaguar and Land Rover operational
By Andrew C., 27 Aug, 2010. 0 Comments
Jaguar Logo
With the economic crisis looming darker each passing day, Jaguar and Land Rover are having quite a hard time attempting to vend luxury vehicles, and parent company Tata Motors is appealing for a large loan to keep the British Brands operational. Overall, Tata is asking £1 billion from the British government to assist it pay off the bills. That is practically huge sum bearing in mind that it corresponds to £67,000 for each of the British brands' 15,000 employees in the UK. British Prime Minister Gordon Brown is reported to be nearing a decision concerning the loan, though it's expected that the funds would come with a condition that looks after workers in the UK.There is a suspicion that sales at Jaguar and Land Rover vehicles are in a truly awful shape, but the fact is no one really knows how bad things have developed into. Tata Motors has ceased furnishing US sales data for its troubled luxury brands.
Latest Auto Shows
