There’s light at the end of the tunnel for Vauxhall

Back in May I wrote about General Motors being on the brink of collapse with thousands of people at Vauxhall worried for its future and their jobs. Today there is quite an optimistic outlook for Vauxhall.

Reports in The Times confirms that Ripplewood, the private equity group, is in talks with Vauxhall over it’s future. There appears to now be three bidders in the frame with 5,000 jobs at stake. Talks are at an advanced stage so we will have to wait and see who the successful bidder is.

Another car manufacturer making cut backs is Jaguar. Jagua Land Rover are planning to axe 300 jobs on Merseyside, through voluntary redundancies and also close for three weeks in September. Sales have fallen in the past 10 months and they reported pre-tax losses of £281 million.

The car manufacturing industry has been hit very hard by the recession but if you are after a nice new car then, according to The Telegraph, prestige motors may be an affordable option. Some models from Audi, Jaguar, Lexus and others are currently available for £20,000 less if you shop around. Read more here about new car prices being slashed by £20,000.

Add comment July 22nd, 2009