With the global economy continuing to stumble, many automakers are seeking some sort of financial backing from their respective governments. However, the UK’s Jaguar Land Rover is not in support of a government bailout, with the hopes of finding a better solution.
Although cold hard cash will keep an automaker’s doors open, JLR recognizes that a bailout doesn’t attack the root of the problem – collapsing sales. As such, JLR wants the British government to focus on getting credit to consumers rather than on keeping automakers on life support.
“We are clearly in very difficult times, in difficult trading conditions,” Jaguar Land Rover CEO David Smith told Sky News. “Unfortunately, what we’ve got now is a situation where consumers aren’t spending and consumers aren’t lending, so it’s a double whammy.”
Smith, along with other auto industry representatives, will meet with the British government next week to discuss several issues, including securing British jobs and encouraging consumer spending.
