Carmaker News

PricewaterhouseCoopers (PwC) is forecasting a tough year ahead for the car industry due to a lack of available credit and low consumer confidence.

Jaguar Land Rover will have to undergo some financial restructuring if it wants financial assistance from the government.

Nissan will reduce its Sunderland headcount by 1,200 workers, as the brand adjusts to falling European car sales.

The UK automotive industry is set to reopen official talks with the government this month about increasing pressure for a multi-billion pound support package for the sector.

Toyota is forecasting its first loss in 71 years as the world's biggest carmaker reels from the impact of dwindling international demand and a rise in the value of the yen.

Ford of Britain has made some significant changes at senior level, appointing a new chairman and managing director.

The $14bn bailout of the US automotive industry has been rejected by the Senate after senators failed to agree over pay levels for American car workers.

Lancia's return to the UK market, planned for next summer, has been postponed due to the current economic climate. But the brand has denied it has abandoned the UK expansion.

The US House of Representatives has approved a $14bn (£9.4bn) bailout for the Detroit Three, GM, Ford and Chrysler, but the Senate may not pass the plan.

US president elect Barack Obama has vowed to save the ailing US car industry as part of his wide-ranging plans to revive the American economy.