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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.

We drove to the Grand Tour Lapland taping in a British beater

In October, it was revealed that the Great British Motoring Show That Is Not Top Gear was going to be filming an episode somewhere in Finland. I happen to be Finnish, which meant I immediately applied for audience tickets, and then waited for the phone to ring. It never did, but a friend of mine got two tickets of his own. By that time it was announced that the filming was going to take place "somewhere in Lapland", and more precisely hundreds of kilometers north from the Arctic Circle. Excellent! We knew just how to get there. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Last summer, we spent GBP1000 ($1230 as of the publishing date) on a running and driving, British Racing Green Daimler Six on eBay and drove it home to Finland the long way, via Scotland. (In America, this car is known as the Jaguar XJ Vanden Plas.) It was still a little bit road legal in early November, as we had attempted to get it through Finnish import inspection. It failed on the grounds of the rocker panel welds being a bit crusty, but the following one-month grace and repair period meant we could still drive it on temporary sticker plates. So, after buying a set of Nokian winter tires the previous week, we set off from Helsinki the day before the filming. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. There is nothing quite like driving the entire length of Finland in a right-hand-drive four-liter rebadged Jaguar in one day – still on British plates, albeit taped over. We clocked up over 1100km in the comfort of the leather interior, whisked away by the four-liter six's oomphy torque and ambient thrum; every now and then stopping for fuel, swapping drivers and wiping the headlights clean from accumulating highway muck. As we passed Rovaniemi and the Santa's Village, roads gradually got so slippery the Nokians really proved their worth. Reindeer flocked on the road, along with foxes and the single white rabbit (he did not have a pocket watch, as far as we could tell). It was not the lack of sleep doing us in, even if the hotel bed was sorely needed after finally reaching the village of Saariselka in deepest Lapland. After a celebratory beer while watching Finnish karaoke, of course. But the show! The next day we spotted the Fisker, the Boxster, and the Saab 900 driving back from taping the show's localized intro.

Jaguar J-Pace crossover spied with diesel hybrid power

The new Jaguar F-Pace is only now hitting dealerships, but the British automaker is already testing a bigger, higher-end example. Allegedly named J-Pace – tying it to the flagship XJ sedan the same way the F-Pace is to the XF (so expect an E-Pace before too long) – Jaguar's engineers stretched the wheelbase and cobbled together a big CUV from an F-Pace's body parts. The biggest giveaway is on the rear door's cutline. A normal F-Pace's shut line runs right into the middle of the rear wheel arch. But on this mule, the door closes well forward of the arch. Outside the axles, Jag has stretched the front overhang – it's far more prominent with a completely different lower intake – and the super-short rear overhang reinforces the idea that we're seeing a longer platform. While we know the wheelbase is longer than the normal F-Pace, the platform underpinning this mule could go one of three ways. First, in what would probably be the most cost-effective route, Jaguar could simply stretch the chassis underpinning the F-Pace. Second, Jag could mine the Land Rover parts bin for a fullsize platform, perhaps from the Range Rover. It's not a crazy idea, and would open the J-Pace to a more potent line of powertrains – hello 5.0-liter, supercharged V8. Finally, the J-Pace could borrow its platform from the XJ sedan. One reason this mule could be riding on a Land Rover platform is because of its powertrain. According to the vehicle lookup on the British Ministry of Transport's website – see the final slide in our gallery above – the mule's number plates belong to a vehicle with a 2.0-liter turbodiesel engine and an electric motor, a diesel hybrid. The fullsize Range Rover is available in such a configuration outside the US, but it uses a 3.0-liter V6. Clearly, the J-Pace is still very early in its development process. That means we shouldn't count on seeing a production-ready vehicle for quite some time. Our spies point to a 2019 debut as a 2020 model. We'll just have to wait and see. Related Video: Featured Gallery Jaguar J-Pace: Spy Shots View 12 Photos Image Credit: KGP Photography Green Spy Photos Jaguar Crossover Hybrid Luxury