Jaguar Land Rover Carmaker ineligible for UK state support takes three-year loan to weather Covid-19 crisis Coronavirus – latest updates See all our coronavirus coverage The JLR loan will be used to secure the carmaker’s cashflow as it tries to weather the Covid-19 crisis. Photograph: Ben Stansall/AFP/Getty Images Jaguar Land Rover has borrowed 5bn yuan… Continue reading Jaguar Land Rover borrows £560m from Chinese banks to secure cashflow
Author: The Guardian Online News
Aston Martin axes 500 jobs after sales slump due to coronavirus
Aston Martin Carmaker seeks to save £28m in cost-cutting drive under new chief executive Aston Martin said despite the cost-cutting it was still on course to produce its first sports utility vehicle, the DBX, which is made in south Wales. Photograph: Aston Martin/PA The luxury carmaker Aston Martin Lagonda plans to make 500 workers redundant… Continue reading Aston Martin axes 500 jobs after sales slump due to coronavirus
Car dealer Lookers cuts 1,500 jobs and closes 12 showrooms
Job losses UK firm to axe almost one-in-five jobs to help save £50m as car sales slump during Covid-19 crisis Would-be buyers pictured at Vauxhall Lookers in Speke, Liverpool, after car showrooms reopened for the first time since lockdown. Photograph: Peter Byrne/PA The car dealership chain Lookers plans to cut 1,500 jobs and close 12… Continue reading Car dealer Lookers cuts 1,500 jobs and closes 12 showrooms
Nissan’s Sunderland plant at risk if UK leaves EU without deal
Nissan No-deal Brexit tariffs would make manufacturing in Britain unviable, says carmaker About 70% of the cars manufactured in Sunderland are sold in the EU. Photograph: Phil Noble/Reuters Nissan has said its Sunderland manufacturing plant is still under threat if the UK leaves the EU without a trade deal. Last week Nissan said the UK’s… Continue reading Nissan’s Sunderland plant at risk if UK leaves EU without deal
Essex car showroom busy as dealerships reopen in England
Sajul Islam has had his eye on a new seven-seater Volkswagen Tiguan Allspace throughout the coronavirus lockdown, and he took his chance on Monday as car dealerships across England opened their doors for the first time in more than 2 months. “I’ve been waiting for weeks for this showroom to open up again,” Islam said,… Continue reading Essex car showroom busy as dealerships reopen in England
Renault to cut 14,600 jobs as part of €2bn cost-saving plan
Renault Restructuring by French carmaker comes as Covid-19 crisis hits manufacturing Coronavirus – latest updates See all our coronavirus coverage Employees wearing protective face masks work on a Renault assembly line in France. Photograph: Gonzalo Fuentes/Reuters The French carmaker Renault plans to cut 14,600 jobs as it aims to save €2bn (£1.8bn) in one of… Continue reading Renault to cut 14,600 jobs as part of €2bn cost-saving plan
UK manufacturers planning tens of thousands of redundancies
Manufacturing sector Almost half of firms surveyed by lobby group are considering cutting jobs Coronavirus – latest updates See all our coronavirus coverage Orders in the manufacturing sector have declined sharply in recent weeks. Photograph: Alamy Britain’s manufacturers are poised to make tens of thousands of workers redundant after a worse-than-expected slump in orders, prompted… Continue reading UK manufacturers planning tens of thousands of redundancies
Nissan’s Sunderland factory safe but plant in Barcelona will close
Nissan Carmaker seeks to ‘improve efficiency’ at UK plant and will reduce worldwide spending Coronavirus – latest updates See all our coronavirus coverage Tyres are burned during a protest in front of the Nissan factory in Barcelona, which is going to close. Photograph: Andreu Dalmau/EPA Nissan has confirmed it will not close its Sunderland manufacturing… Continue reading Nissan’s Sunderland factory safe but plant in Barcelona will close
Aston Martin underlines the tricky part of the Treasury’s rescue effort | Nils Pratley
T he last lap of Andy Palmer’s reign as chief executive of Aston Martin was the cruellest. As he lost his job, the share price rose 28%. The market’s implied judgment was harsh but fair: a new driver was desperately needed to give credibility to Aston Martin’s latest pitch about corporate turnaround. Palmer, said his… Continue reading Aston Martin underlines the tricky part of the Treasury’s rescue effort | Nils Pratley
Formula One carmaker McLaren cuts 1,200 jobs amid Covid-19 crisis
Automotive industry Group seeks to raise £275m after racing season and supercar sales ground to a halt Coronavirus – latest updates See all our coronavirus coverage McLaren hopes the British Grand Prix Formula One will go ahead in July. Photograph: David Davies/PA McLaren Group, the Formula One team owner and maker of supercars, is cutting… Continue reading Formula One carmaker McLaren cuts 1,200 jobs amid Covid-19 crisis