Ford Motor Co’s finance unit will eliminate 20 percent of its workforce, or about 1,200 workers, as part of a cost-cutting move as the U.S. auto sales rate falls to the lowest since 1982.
Read the rest of this entry »

Jaguar may have just unveiled its updated XKR at the 2009 North American International Auto Show in Detroit, but the XK range won’t be the only performance two-door in Jaguar’s lineup for long. According to a new report, Jaguar is readying a mid-engine sports car to take on Audi’s R8.
Read the rest of this entry »

You might have heard about Tata, and their $2500 micro car.  They even made headlines with their recent purchase of Land Rover and Jaguar.  What you don’t know is the troubles that lays ahead of them.

Their construction costs for their new plant built to make the cheap Nano is over budget by about $80 million.
Their commercial truck sales are down, and they are going to be incurring an integration cost for the newly bought Land Rover and Jaguar units.

Tata needs money and they need it fast.  Where it comes from is questionable, even to analysts.  Appearently they are to receive $1.7 billion from “rights issues” whatever that means.  Needless to say, their stock is slumping, because people have no faith they can produce the $2500 minicar