Auto Sector

Tata owned Jaguar rescue bid in doubt due to warring Brit departments

JaguarLondon, Apr 30 : The wrangling between the Treasury Department and the Lord Mandelson-led Business Department might delay an 800 million pound emergency package for the Tata owned Jaguar Land Rover.

Jaguar Land Rover executives fear that even if they can agree terms with the Treasury for the refinancing it may be months before they receive the cash. Such a delay could force the carmaker to cut jobs in its 15,000-strong workforce to stay afloat.

Officials from the Business Department (BERR) met executives representing Jaguar Land Rover this week to discuss the package, The Guardian reported.

Chrysler's final hour? Obama hopeful as ultimatum looms

Chrysler's final hour? Obama hopeful as ultimatum loomsWashington - Chrysler LLC hoped for a last-minute miracle to keep it out of bankruptcy as an ultimatum for the ailing US carmaker to restructure or lose the government's support was bearing down on the company Thursday.

As government-brokered negotiations between Chrysler and nearly 50 creditors went into Wednesday night, President Barack Obama offered few details but suggested the last-ditch efforts had yielded some positive results.

Obama optimistic that Chrysler can avoid bankruptcy

Obama optimistic that Chrysler can avoid bankruptcyWashington - US President Barack Obama suggested last-minute talks to save Chrysler LLC from bankruptcy were yielding results, saying he was "very hopeful" Wednesday night that a deal could be reached with creditors.

"The details have not yet been finalized," Obama said of the government-brokered talks. "But I'm feeling more optimistic than I was" about a resolution.

Obama calls on Chrysler bondholders to sacrifice

Obama calls on Chrysler bondholders to sacrificeWashington - US President Barack Obama called on Chrysler LLC bondholders to make sacrifices in order to keep the nation's third-largest carmaker from filing for bankruptcy.

Obama, speaking at a town hall meeting in Arnold, Missouri, credited the carworker unions for taking the necessary steps to help Chrysler avoid bankruptcy protection by accepting a new labour agreement.

"One of the key questions now is: Are the bondholders, the lenders, the money people, are they willing to make sacrifices as well?" Obama said. "We don't know yet."

Obama calls on Chrysler bondholders to sacrifice

Obama calls on Chrysler bondholders to sacrifice Washington  - US President Barack Obama called on Chrysler LLC bondholders to make sacrifices in order to keep the nation's third largest automakers from filing for bankruptcy.

Obama, speaking at a town hall meeting in Arnold, Missouri, credited the autoworker unions for taking the necessary steps to help Chrysler avoid bankruptcy protection.

"One of the key questions now is: Are the bondholders, the lenders, the money people, are they willing to make sacrifices as well?" Obama said. "We don't know yet."

Toyota small car will be priced in the range of Rs 5 lakh to Rs 7 lakh in India – discloses Toyota Kirloskar Motor

The joint venture between Toyota Motor Corporation and Kirloskar Group – Toyota Kirloskar Motor Private Limited, which sells Toyota brand of cars in India, has disclosed the price of its compact small car that Toyota is planning to roll out next year. Toyota Motor, which gained wide popularity for its Qualis and Innova, is gearing up to launch two new cars – eagerly awaited SUV Fortuner and a small car – in the Indian market.

Toyota has already disclosed that its new small car will be released in petrol and diesel variants, and now Toyota Kirloskar Motor has disclosed that the new small car from Toyota will be priced in the range of Rs 5 lakh to Rs 7 lakh.

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