As bailout fever sweeps the globe, no automaker wants to be the only manufacturer on the block without a fat government check. Automotive News Europe [ANE, sub] reports that Jaguar/Land Rover CEO David Smith recently hit up UK Prime Minister Gordon Brown for a few bob. “The bold and concerted actions announced by our government this week to unblock the banking system and the vital first cut in interest rates from the Bank of England are welcome, but we still need to take action to stimulate the real economy,” Smith tells ANE. Smith declined to put a number on just how much “action to stimulate the real economy” Jag/Landie required. And though the boss of the proud British marques hit the right PR notes with his use of the term “our government,” he was also being a bit misleading. After all, has Old Blighty forgotten that Jaguar/Land Rover now belongs to those upstart Indians at Tata? Sure, the two brands build cars in England (for now). But is Downing Street really going to break out the bankroll to help Mumbai’s bottom line? Not bloody likely.
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Hey, India used to be part of the British Empire, right? Everybody is friends. In fact, I believe the Brits should be bailing out our automakers, as well as providing cash to South Africa, Canada, Australia, Hong Kong, and every other former colony.
The Dutch should also provide bailout dollars since they once inhabited New York City.
And the French and Spanish too.
Everyone owes us money.
Ha! Ford lost about $2B per year on Jaguar for 20 years, could there really be an amount of money Jaguar wouldn’t burn through?
could you imagine how much better a Focus or Fusion would be if Ford would have spent that $2B a year for 20 years on their own cars…
The bullshit phrases that the rich come up with never cease to amaze!
“The bold and concerted actions announced by our government this week to unblock the banking system and the vital first cut in interest rates from the Bank of England are welcome, but we still need to take action to stimulate the real economy,”
Thats funny! Although I suppose it sounds better than “we told ‘our’ government we want our cut too”
Okay, I’ll take a fat handout too. I mean everybody’s lined up to get one – right?
How about paying off my mortgage?
Oh, please!
New Flash: neither of these luxury “Brand Names” are vital importance to any country’s econmy!
Jaguar is nothing more than a expensive product that no one wants, which equates to being serverly over-priced. If a luxury item cant be sold for a decent profit it is WORTHLESS!
Range Rover is as stupid a proposition as Hummer is today. WTF purpose does a maker of oximoronic over-priced vehicles that that will NEVER be used as intended serve today?
Not for nothing but the people that SHOULD be customers of both brands still have money to burn but are unwilling to burn it on these products just as they were not in GOOD times.