Europe’s carmakers have stressed there is an urgent need to free up money so car buyers can borrow again.

“The motor industry in particular needs significantly broader and quicker access to financial support.

"Automotive manufacturers are taking all measures within their reach to emerge from the crisis.

"In parallel, governments have to take urgent and drastic measures to prevent a prolonged period of recession,” said Carlos Ghosn, President of the European automobile industry’s trade association ACEA and CEO of Renault.