What car-related news is making the national press today? Find out here with our daily review.
Jaguar to get state aid
Jaguar Land Rover will get a taxpayer-funded bail-out, according to The Daily Telegraph. The paper says secret talks between the Government and the ailing car maker have led to the deal being struck between ministers and the India-owned firm. The deal is likely to take the form of a loan guarantee scheme that would help the firm gain access to credit.
The Daily Telegraph
Jaguar next for bail-out
The Daily Mail also covers the proposed rescue package for Jaguar, reporting the car maker could be in line for a taxpayer-funded bail-out worth up to 1 billion. However, the paper also reports that any rescue package would be unpopular because the firm is now foreign-owned.
The Daily Mail
Rescue package for UK car makers
The Financial Times reports that a provisional bail-out package is being drawn up for Britain's troubled car industry. The paper also reports that any rescue deal will come with tough conditions to ensure it does not set an overly 'generous precedent' for other beleaguered industries. The Treasury is trying to resist a US-style bail-out, and is instead working on a company-by-company basis. Talks have already been held with Jaguar Land Rover and Vauxhall.
Fears for fuel prices
There are fears of a return to soaring petrol prices following a cut in the production of oil, according to the Daily Mail. The paper reports OPEC's decision to slash production by a record 2.2 million barrels a day. However, the paper goes on to report that rather than inflate the price of crude oil, news of the cut has resulted in prices sinking even lower.
Chrysler to shut all plants for a month
US car maker Chrysler said yesterday that it would close all of its manufacturing plants for at least a month. The company confirmed it would make all of its manufacturing operations 'idle' from tomorrow night.
Honda braced as losses loom
The Financial Times reports that Honda is facing a rare financial loss in the second half of its business year. The company, which is Japan's second-biggest car maker, said it will cut dividends and management pay. Expansion plans both in Japan and abroad could also be suspended.
Speeders should be treated like smokers
Speeding drivers should be treated like smokers to make driving too fast become socially unacceptable, according to a report in the Daily Mail. The claims come from road safety experts working for the Government. The experts believe making speeding a national taboo would have more success than speed cameras.
Fewer crashes hits cash flow
Helphire, the emergency vehicle replacement service, yesterday said its profits will be 'materially' less than expected because of a decrease in road accidents. The Times reports that Department for Transport figures have revealed a 2% reduction in the volume of cars on the road, which has resulted in fewer accidents.
Luca di Montezemolo hints at end of Bernie's reign
Ferrari boss Luca di Montezemolo tells The Times that he believes Formula One chief Bernie Ecclestone lacks ideas and hints that he believes the Englishman's reign over the sport could soon come to an end.
A man who paid a parking fine with a cheque written on toilet paper has escaped a further fine, according to The Times. He was instead ordered to sit at the back of Sudbury magistrates' court for an hour.