British Bailout: UK gives �2.3B to domestic auto industry
£2.3 billion sounds like a lot of cash (about $3.2 billion USD), but some industry insiders don't think the loans go far enough. Union leader Tony Woodley claims that nearly half of the money will need to go to Vauxhall, a subsidiary of General Motors, and Jaguar Land Rover, which is owned by India-based Tata, and that the cash infusion will do little to aid the hundreds of suppliers that are hurting just as badly.
[Source: Times Online, Photo by Andrew Winning - WPA Pool/Getty]
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models