2004 Jaguar X-type Base Sedan 4-door 3.0l on 2040-cars

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Formula E is on track financially, with NYC race coming up

LONDON - Formula E could be breaking even already were it not investing for the future, chief executive Alejandro Agag said on Monday after the electric motor racing series reported continuing losses in its latest annual accounts. Accounts filed at Companies House showed Formula E Operations Ltd reduced its operating loss to 33.7 million euros ($38.32 million) at end-July 2016, a period covering its second season, from a previous 62.7 million. Net liabilities rose to 107.2 million euros from 72.1 million, while total revenues reached 56.6 million from a previous 19.7 million. "Everything is going according to plan," Agag, whose city-based series will be racing in New York for the first time on July 15 and 16, told Reuters in an interview at his London offices. "Actually we are doing incredibly well financially according to our plan. "We could have broken even this year but we decided to invest more in marketing and promotion. We decided to add races like the one in New York, which is in year one a race which is costing, we have significant capital expenditure." "It's really up to us when we want to go to break even or not. We could be in break-even now, we could be in break-even next season but we may decide to invest more in marketing and promotion." Agag said the shareholders, including John Malone's Liberty Global and Discovery Communications, were supportive of the strategy and the series had attracted more investors, sponsors and car manufacturers. The New York races will be held in Brooklyn's Red hook neighborhood, with lower Manhattan and the Statue of Liberty as a backdrop with technology partner Qualcomm securing the naming rights. MANUFACTURER INTEREST Agag, whose series plays down competition with Liberty Media-owned Formula One, said more carmakers were set to join a series increasingly aligned with their commercial focus. "I think Formula E has become the preferred destination for manufacturers and there are a few reasons for that," said the Spaniard. "Obviously, one is that it is electric and manufacturers are more and more focusing on electric cars...and we are the only platform really to help them promote that technology and those types of cars. "And second, because of the cost. The cost of the team in Formula E is very moderate." Whereas top Formula One teams can burn through $300 million a year, as can the likes of Toyota in the World Endurance Championship, the budgets of successful Formula E teams are between 10 and 15 million.

Jaguar previews XF sedan ahead of New York debut

Jaguar is in the midst of an aggressive product expansion, with the new F-Type taking it back into sports-car territory, the upcoming F-Pace putting it in the crossover market for the first time and the XE renewing Jag's assault on the entry-level luxury-sedan segment. But it hasn't forgotten about its core models. The British automaker has a new flagship XJ under development, and Jag will showcase a brand-new XF at the New York Auto Show next month. But before it does, Jaguar has given us something to chew on with these teaser images: one showing the new sedan from above, and one showing the new cockpit. Now it may be hard discern much from that overhead view – which is not a typical teaser – but it's clear the new XF will feature more sharply creased body lines and a large panoramic sunroof. Meanwhile the interior looks like a modern update of the current model, borrowing some elements from the smaller XE. There's a wider infotainment display, the rotary knob for the transmission has moved toward the center, some (but not all) of the air vents appear to hide away when not in use, and there's a sportier steering wheel – though we do appear to be looking at the more performance-oriented S model. The XF, for those having trouble keeping track, is Jaguar's challenger to the likes of the Mercedes E-Class, BMW 5 Series, Audi A6 and Maserati Ghibli. It was introduced in 2007, and has been available (in certain markets anyway) in sedan and wagon forms, with engines ranging from a 2.0-liter turbo four with 240 horsepower all the way up to a 5.0-liter supercharged V8. With the New York show fast approaching, we won't have to wait much longer for a complete view of the new XF. But even before then, Jaguar promises to reveal the new XF in dramatic fashion in London: on March 24, it will drive the new sedan on two wires barely more than an inch thick suspended high above the river.

Jaguar takes bite out of Mercedes' Magic Body Control chicken ad

We were quite impressed by Mercedes-Benz when it aired its Magic Body Control commercial, starring a group suitably funky chickens demonstrating their ability to jive to Diana Ross and the Supremes. Now, Jaguar has taken the opportunity to poke some fun at its German rival, releasing its own take on the Magic Body Control spot, and um, there's a big cat involved.
You'll really want to take a look at this video, which is just another sign that in terms of clever ads, Jaguar is doing quite well. We aren't sure if "Jaguar vs. Chicken" will make it onto TV any time soon, but it's still fun to see the British brand take the mickey out of Mercedes - it's rare to see automakers go after each other so bluntly in their marketing efforts. Scroll down to watch the video (we've also included a bonus video, Jag's recent "Cat In A Box" spot).