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Jaguar Land Rover – Clever Finance Deal

JLR releases £170 million by financing cars in transit Car makers have been begging lines of credit from wherever they can in the last year as the recession has bitten hard in to their finances. Jaguar Land Rover started off down the Government Loan route, but it soon became clear that the strings attached to any Government sourced finance where unacceptable. But in a sign that the future of JLR looks pretty rosy JLR managed to secure £175 million in private financing back in August as part of a bid to raise £500 million, and Tata have refinanced the loans used to acquire JLR.

Parents 'risking kids' lives' on defective tyres

MORE THAN 30% of parents are ferrying their most precious cargo around on illegal tyres, a new study has found. Road safety charity TyreSafe has reported that one of its members carried out a study at a Shropshire primary school, where almost a third of the cars dropping children off at school were wearing tyres that were either past their wear markers, were incorrectly inflated, had bulges or cuts, or had foreign objects sticking out of them. “The start of the new academic year means that we will be experiencing many more cars on the roads, particularly at peak times of the day,” comments Stuart Jackson, chairman, TyreSafe.

GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.