What the papers say: December 8

What car-related news is making the national press today? Find out here with our daily review.

Wagon's crash puts more pressure on car industry
The demise of car parts supplier Wagon has put more pressure on the Lord Mandelson to provide support for the UK's beleaguered motor industry, according to The Daily Telegraph. The component supplier lists Ford, General Motors, Land Rover, Nissan and Honda among its customers. Administrators are hopeful that a buyer can be found for the firm which employs 4500 staff throughout Europe. Lord Mandelson has so far given a cool reception to requests for financial support from car makers.
The Daily Telegraph

Jaguar Land Rover to exploit links with India
The Financial Times reports that Jaguar Land Rover is to create a dealership network in India. The move is to exploit links with its new owner, the Indian manufacturer Tata.
Financial Times

Car clubs on the rise
Car clubs, which allow members to hire cars for as little as an hour, are booming, according to the Times. The success of such clubs is attributed to high road tax charges and unstable fuel prices, combined with uncertainty over job security making motorists unwilling to buy a vehicle of their own.
Times

US uncertainty breeds job fears in UK
The Daily Mail reports that uncertainty over a US Government bail-out for the American car industry is causing increased doubts over the future of 5000 jobs at Vauxhall in the UK. The paper also says that the UK Government has ruled out a large financial rescue package for UK-based car manufacturers.
Daily Mail

$15 billion loan but boss must go
The Times reports that the US Government was last night drawing up legislation to lend $15 billion (about 10 billion) to America's 'big three' car makers. However, an influential senator last night called for General Motors' chief executive to resign. The loan is less than half the amount the manufacturers originally called for.
Times

Parts suppliers warned
The Financial Times reports that the US car parts suppliers association's president, Neil De Koker, has warned that insisting on cash payments, or suspending shipping could send Detroit's car makers into bankruptcy.
Financial Times

US bail-out could stall green cars
The wholesale refinancing of the US car industry could put at risk the development of electric cars, according to a report in the Financial Times. Experts believe the diversion of cash to mainstream manufacturing could stifle research into green technologies, such as electric cars.
Financial Times

Slough accident hot spot of the UK
The Daily Telegraph reports that Slough has been named the number one hot spot for motor accidents. The survey, carried out by insurance company Endsleigh, was compiled from motor insurance claim data. Belfast was named as the safest place to drive.
The Daily Telegraph

Honda F1 team linked with Dave Richards
The Daily Mail reports that Dave Richards, the former boss of Benetton and BAR, has been linked with a potential buyer for the Honda Formula One team. However, such a move would put a question over Jenson Button's future with the team, because he and Richards parted on bad terms when the latter left BAR in 2004
Daily Mail

In to the Formula One 'money pit'
The Daily Telegraph continues coverage of the massive cost involved in Formula One. Just days after Honda's exit from F1, the paper carries a graphic detailing where the money is spent. From 600,000 for an engine, to 800 on wheelnuts, the feature is a fascinating insight into the economics of the troubled sport.
The Daily Telegraph