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Jaguar demands government assistance over £1 billion loan

It has today been revealed that Tata Corporation of India, the parent company of Jaguar Land Rover, is in talks with the UK government about a possible £1 billion loan. While the company are not looking to borrow money off the government they are placing pressure on the authorities to either back the company for the loan or introduce new legislation to ensure that banks are more helpful towards UK business in these recessionary times.

The feeling in the market seems to be that it will take at least two years for the industry to pick up and during this time car sales will be only a fraction of what they have been in the recent past. This will place greater pressure on the company balance sheets around the world as we have seen with the US leaders all suffering cash flow problems. For a company the size of Jaguar Land Rover to go cap in hand to the government for financial assistance is very much a sign of the times.

As we have mentioned of late, new car sales in the UK have all but ground to a halt and more and more car retailers are struggling to make ends meet. Many believe that the government has played no small part in this with a number of tax penalties which have hit the luxury car market.

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