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Jaguar Land Rover undergoes $3.2 billion turnaround plan as sales slump

MUMBAI — India's Tata Motors on Wednesday announced a turnaround plan for its luxury car unit Jaguar Land Rover, which has been hit hard by trade tensions between China and the U.S., low demand for diesel cars in Europe and worries over Brexit. Under "Project Charge," Tata Motors said it plans to cut costs and improve cash flows at Jaguar Land Rover (JLR) by 2.5 billion pounds ($3.2 billion) over 18 months. JLR also plans to launch several new vehicles, including the Jaguar I-Pace and the new Range Rover Defender over the next few years and will offer a hybrid or full-electric version of all its models by 2020. "Together with our ongoing product offensive and calibrated investment plans, these efforts will lay the foundations for long-term sustainable growth," JLR CEO Ralf Speth said after Tata Motors reported a quarterly loss. JLR has trimmed its pre-tax profit expectations for the current fiscal year ending March 31, 2019, and expects to break even, Speth said, versus an earlier target of profit growth. As part of the turnaround plan, JLR will first focus on cash-saving "quick wins" like reducing non-product investments and speeding up asset sales, Tata Motors said in an investor presentation. In the near term it will improve efficiency in areas including purchasing and material cost, manufacturing, logistics and people, and will focus on strategic and non-core asset sales. JLR has already reduced the number of production days at its UK plants in Castle Bromwich and Solihull. The company said in its presentation it has saved 300 million pounds since it initiated the turnaround plan six weeks ago and is working on 500 ideas for the future. Tata Motors reported a loss of 10.49 billion rupees ($141.9 million) for the July-September quarter, compared with a profit of 24.83 billion rupees in the year-ago period. That was worse than the estimate of a loss of 2.40 billion rupees, according to Refinitiv data. JLR reported a loss of 101 million pounds during the quarter and its margin on earnings before interest, tax, depreciation and amortization (EBITDA) fell 130 basis points to 9.9 percent. Retail sales of its Jaguar sedans and Land Rover sport utility vehicles (SUVs) fell 13.2 percent to about 130,000 units, hurt particularly by tariff changes in China and escalating trade tensions. Demand in China remained muted even after the country cut import tariffs for cars and car parts to 15 percent for most vehicles from 25 percent from July.

Recharge Wrap-up: Jaguar's aluminum recycling, lithium demand rises

Jaguar Land Rover has recycled over 50 metric tons of aluminum over the past year. As Jaguar celebrates a year of sales of the XE – which makes use of recycled aluminum – its closed loop recycling program has prevented some 500,000 metric tons of CO2 emissions. The XE is the first car in Jaguar's REALCAR (short for REcycled ALuminium CAR) program, and the company says it has recycled an amount equal to almost 200,000 XE body shells. "Its success so far marks a significant step towards our goal of having up to 75 percent recycled aluminium content in our vehicle body structures by 2020," says Group Engineering Director Nick Rogers. Check out the video above, and read more from Jaguar. Electric vehicle manufacturers are putting a strain on lithium supplies. Since the metal is used in the batteries of most electric vehicles, demand is expected to grow by 8.8 percent a year through 2019. While Tesla has deals with natural resource companies Pure Energy Minerals and Bacanora Minerals, they won't be able to keep up with the automaker's goal of 500,000 EVs by 2020. Tesla, BYD, and other EV manufacturers are going to be competing for these resources, and new lithium firms will enter the market to compete for automakers' business. Read more in the press release or the blog post from Market Research. Connecticut's Department of Energy and Environmental Protection (DEEP) has announced a new funding opportunity for building public EV charging infrastructure. DEEP is accepting applications from private entities for awards of up to $10,000 for installing a public dual-head charger or two single-head chargers, for up to 17 new charging stations. It prefers proposals for underserved areas with major traffic, such as downtowns. Connecticut has a goal of putting 3.3 million EVs on the road by 2025. Read more in the notice from DEEP, or visit DEEP's website. Car clubs are responsible for the removal of about 25,000 cars from London roads. According to a new survey, every club car removes 10 private cars, as club members sell their own vehicles. The survey of 4,000 Londoners also shows that carsharing members drive an average of 750 fewer miles every year after joining. London is currently home to 186,000 car club members using 2,800 cars, while the UK's 220,000 club members use over 3,800 club cars. Also, many car clubs offer access to electric vehicles, which helps to further reduce emissions.

2015 Jaguar F-Type Coupe is a seriously pretty kitty

The F-Type roadster is a beautiful car, but if we're honest, the coupe might be even more so. The hard top creates a smooth, uninterrupted line from the windshield all the way back to the rear of the car, the kinked-up rear-quarter windows are a nice touch and, overall, the design looks more organic than the roadster.
With the coupe's introduction also comes a new engine in the F-Type lineup, the 550-horsepower 5.0-liter supercharged V8 found in the XFR-S and XKR-S, and it's fitted to the top model, the F-Type R Coupe. The 495-hp mill in the V8 S roadster won't be an option in the coupe, however, but we're okay with that because Jaguar claims the 550-hp variant will scoot to 60 mph in just four seconds. Jaguar also will offer the base F-Type Coupe, with a 340-hp 3.0-liter supercharged V6, and the F-Type S Coupe, which has the same engine tuned to 380 hp. The base and mid-level models are quite quick, and can accelerate from 0-60 mph in 5.1 and 4.8 seconds, respectively.
The F-Type Coupe is priced starting from $65,000, the S Coupe adds $12,000 and the R Coupe starts at $99,000 (prices don't include $895 destination fee). For more F-Type Coupe info, check out our previous post on it, or head on below to read the press release.