Jag hits cash crisis

03rd December 2008

While the XFR is hitting the headlines, Jaguar’s finances are not looking so sharp.

The firm has joined other car companies in asking the Government for a £3billion industry-wide bail-out.

The Society of Motor Manufacturers and Traders (SMMT) met Business Secretary Lord Mandelson last Thursday to look at how to stimulate the ailing industry. At the same time, Jag denied asking ministers for a separate £1bn loan. An SMMT spokesman said: “We want MPs to get the banks lending, so people start buying cars.”