Car manufacturers will ask UK for help

Mon, 17 Nov 2008



According to a recent report from the Society of Motor Manufacturers and Traders, car makers in the UK are likely to ask the government for a package of assistance, including help for their loan departments.

The group are likely to send out a letter calling for access to special liquidity vehicles, similar to those offered to financial services companies and banks . With car sales collapsing in the last six months, and consumers pulling away from purchasing new vehicles, UK companies need help.

The government was reported as commenting: "`The government is very much aware of the problems faced by carmakers." How they move to aid the stricken vehicle and car finance industries remains to be seen.
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