The SMMT has asked the government to stimulate demand by making cheap loans available to carmakers’ finance arms. “What is really killing demand at the moment is that nobody can borrow money to buy a car – the loan companies are simply not interested in doing business because they can’t get the funding themselves,” the chief executive said. Senior motor-industry sources said yesterday that an outline loan proposal from the government was sent to Tata, headed by Ratan Tata, in recent days, and that a decision to proceed could be reached shortly

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