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| Government confirms Jaguar talks | Government confirms Jaguar talks |
| (about 3 hours later) | |
| The government has held talks with Jaguar Land Rover over the possibility of state aid for the carmaker, Business Secretary Lord Mandelson has confirmed. | The government has held talks with Jaguar Land Rover over the possibility of state aid for the carmaker, Business Secretary Lord Mandelson has confirmed. |
| He said no decision had yet been made - as it was too early to tell if any car firm needed help - and that ministers did not have "an open chequebook". | He said no decision had yet been made - as it was too early to tell if any car firm needed help - and that ministers did not have "an open chequebook". |
| Since the summer, Jaguar Land Rover has cut output at its plants in Solihull, Castle Bromwich and Halewood. | Since the summer, Jaguar Land Rover has cut output at its plants in Solihull, Castle Bromwich and Halewood. |
| India's Tata bought the firm from Ford in June for £1.7bn ($2.6bn). | India's Tata bought the firm from Ford in June for £1.7bn ($2.6bn). |
| 'Analysing carefully' | 'Analysing carefully' |
| Jaguar Land Rover, which employs about 15,000 in the UK, said last month that it faces "unprecedented trading conditions" as global sales for the whole of the car industry have fallen sharply since the summer. | Jaguar Land Rover, which employs about 15,000 in the UK, said last month that it faces "unprecedented trading conditions" as global sales for the whole of the car industry have fallen sharply since the summer. |
| The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country Lord Mandelson | The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country Lord Mandelson |
| It also announced last month that it was cutting 850 agency jobs. | It also announced last month that it was cutting 850 agency jobs. |
| "We are analysing very carefully what is going on in the [car] sector and we will make good judgments in good time if it is appropriate for the government to take any action or if it is possible for us to do so," Lord Mandelson told Sky News. | "We are analysing very carefully what is going on in the [car] sector and we will make good judgments in good time if it is appropriate for the government to take any action or if it is possible for us to do so," Lord Mandelson told Sky News. |
| "I have had discussions with the owners and management of Jaguar Land Rover in particular, because they argue that they are under particular strain." | "I have had discussions with the owners and management of Jaguar Land Rover in particular, because they argue that they are under particular strain." |
| While Lord Mandelson warned there would not be "a great long list of industrial bail-outs", he did seem to indicate that the car sector might be one that the government looks at favourably. | While Lord Mandelson warned there would not be "a great long list of industrial bail-outs", he did seem to indicate that the car sector might be one that the government looks at favourably. |
| "The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country," he said. | "The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country," he said. |
| "It is not just the carmakers themselves and all those employed directly in the production of cars, it is the huge supply chain of many small and medium-sized enterprises that supply components and other elements to that very important manufacturing process." | "It is not just the carmakers themselves and all those employed directly in the production of cars, it is the huge supply chain of many small and medium-sized enterprises that supply components and other elements to that very important manufacturing process." |
| 'Iconic brands' | |
| Ford bought Jaguar in 1989 for £1.6bn, and Land Rover in 2000 for £1.8bn. The combined cost of £3.4bn was double what it sold them for. | |
| Tata chairman Ratan Tata said in June that Jaguar and Land Rover were "two iconic British brands with worldwide growth prospects". | |
| However, that was before the crisis in the global financial sector and subsequent sharp global economic slowdown. | |
| Tata has also since reported falling sales at its main car business in India. |