On 3 February 2009 was, the mood somber and depressing at the Birmingham International Convention Centre as cold as ice, as in the winter outside. The terrible reality dawned on the participants was the fact that the prestigious Jaguar and Land Rover luxury brands are facing the worst financial crisis since the loss of the BMW brand in 90 years.
Jaguar Land Rover CEO David Smith told the audience: “In 25 years in the automotive industry, I’ve never experienced a moment quite as banks will not lend and consumers are not spending someone has put oil into the engine back we have… The manufacturers go bankrupt every one to two days. “
Several industry leaders have said the dire situation. Professor David Bailey of Birmingham Business School, said that the unprecedented crisis could be another 30,000 to 40,000 jobs lost look. Tony Woodley, Unite joint leader admitted that JLR will need half an immediate one billion points. More »