German carmakers press Merkel for aid

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VW and BMW, having announced plans this week to put close to 100,000 workers on short time, feel current rescue plans do not go far enough. Across Europe, the industry supports 12 million jobs.

Radio Bavaria, where BMW is headquartered, said: "The industry knows it is five to midnight and the clock's ticking. Whole company towns face devastation if the rescue package isn't right. The automobile makers have to convince Angela Merkel just how serious the crisis is. She said this week she rejects any type of permanent subsidy."

With disastrous December sales figures just in — BMW's were down a quarter — car executives say Berlin must "substantially" up its aid offer of around 2 billion. France is already mulling a 6 billion bailout for its car firms.

BMW may try to tap in to Berlin's 500 billion bank liquidity package for its finance and leasing arm.