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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.

MINI Superleggera Vision concept unveiled

Doesn’t this look pretty special? It’s the MINI Superleggera Vision concept – a modern interpretation of the classic open-top two-seater created by MINI and Italian design house Touring Superleggera. It was unveiled on the shores of Lake Como at the Concorso d’Eleganza Villa d’Este 2014 and is purely a concept car for now, but it could well influence future members of an expanded MINI family.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.