F&I Management & Training

Jaguar Land Rover has refused to comment about reports that it requested a £1bn loan from the government.

The manufacturer said it backed the SMMT's UK and Acea's European campaigns for the automotive industry to receive federal aid, but would not divulge details of its "confidential discussions with government".

"The automotive industry is facing unprecedented trading conditions as a direct fall out of the banking crisis and turbulence in financial markets and we are of course keeping government appraised of the impact on our business," the company said.

JLR has come under pressure from the economic downturn. Land Rover sales plummeted 58 per cent in October and were down by more than a quarter in the first 10 months of the year.

Although Jaguar has bucked the trend with new sales up 11 per cent in the year-to-date, JLR has already set a one-week production cut at its plant in Merseyside Halewood in December and earlier this year axed 198 jobs.

DATED: 24.11.08

FEED: MT