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Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

Jaguar may kill supercharged V6 to make way for inline-six

This could be the last year to score a Jaguar with the carmaker's 3.0-liter supercharged V6. Autocar reports that Jaguar deep-sixed the the XE S and XF S in the UK due to poor sales and difficulty coping with European emissions regulation changes taking place this year. The mag expects the XJ and F-Pace to lose the V6, too, but suspects the F-Type might retain the engine. It's possible, however, the bent-six with up to 380 horsepower and 339 pound-feet of torque might finally be retiring for a reason reported on for at least three years: To make way for a 3.0-liter inline-six from the Ingenium line of motors. In 2015, Motor Trend noted the supercharged V6 would die at the end of 2016, succeeded by a "more powerful Ingenium inline-six," likely to be turbocharged. One year later, Car laid out a new family of Ingenium inline-sixes in gasoline and diesel versions. There would be three gas options with 300, 400, and 500 horsepower, plus three diesels with 275, 335, and 400 hp and herds of torque. In Car's report, the engines were meant to be here in 2017. This could be the year it finally happens. A Jaguar spokesman in the UK told Autocar that an uptake of less than 2 percent on the S models, "Coupled with impending emissions regulation changes, it makes sense to remove these variants from sale in the UK." When Jalopnik asked Jaguar U.S. about availability here — we aren't a party to the imminent European emissions changes — the carmaker would only say that the engine remains available in the current XE, XF, XJ, F-Type and F-Pace. No matter the timeline, Jaguar would want a six-cylinder to fill the gap from the 296-hp Ingenium 2.0-liter four-cylinder to the supercharged 5.0-liter V8 that starts at 470 hp. Jaguar expanded an area of its Wolverhampton, UK, engine factory to build the scalable Ingenium line. An inline-six would not only reconnect with Jaguar's past — and the firm's long-hooded cars remain ready to swallow them — the straight-six is lighter, has fewer moving parts, and emits less pollution than the supercharged V6. It is also compatible with front-, rear- and all-wheel drive, longitudinal and transverse mounting, and hybrid applications, so expect to see the motor migrate to the Range Rover, Range Rover Sport, and Land Rover Discovery.

Jaguar to build 25 D-type racing cars to finish off 1956 production run

It's good to pick up where you left off, even if it's been more than 60 years. In 1956, Jaguar planned to built 100 D-type racing cars, but only 75 were completed. The missing 25 cars will now be built at Jaguar Land Rover Classic Works in Warwickshire, England, and they will all be built according to the original, authentic specifications. Customers can choose between 1955-style "Shortnose" cars and 1956-style "Longnose" versions; the prototype is of the latter specification. All of them will have the original six-cylinder XK engine, and they will come with a lot of Le Mans heritage, as D-types won the famous 24 hour race in 1955, 1956 and 1957. During their competition years, D-types were driven by such motorsport legends as Mike Hawthorn, Stirling Moss and John Fitch. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The newly built D-types will be the third continuation models from Jaguar's classic works. Earlier, they announced they were building nine XKSS cars to finish off a production run that was cut short by a 1957 fire, and in 2015 the division built six Lightweight E-Types. The XKSS itself was strongly related to the D-type, as originally it was based on unfinished D-types sitting around in the workshop after Jaguar temporarily retired from racing. As Jaguar Classic's Engineering Manager Kev Riches says of the continuation cars: "Each one will be absolutely correct, down to the very last detail, just as Jaguar's Competitions Department intended." No pricing details have yet been announced, but they will surely follow the D-type's official debut at the Retromobile classic car show in Paris this week. Related Video: