US
motor companies are facing serious problems, meaning the
Detroit
Auto Show this year is likely to be a somewhat muted affair.
The big three –
General Motors,
Ford and
Chrysler are all making cuts to try and keep costs down. With
the US
car companies possibly saved by the taxpayer, the UK government
is discussing how to help the hobbled UK
car and
car finance industries.
The Business Secretary Lord Mandelson, who has recently toured car
manufacturing bases to try and better assess the state of the
industry, is thought to be considering how to help the
motor industry.
Mandelson reportedly commented after a tour of a Ford Engine
factory: One of the ideas put to us is to find some way of
putting fresh liquidity to the
finance houses, the
finance arms. I don't think the
auto industry in the UK needs a bailout. It's not weak, but
it's going through a very tough period indeed. That's why
the Government has got to respond to the request to look at any
options.
