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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.

2018 Jaguar F-Pace: Heated windshield option may drive you crazy

Our long-term Jaguar F-Pace is stuffed full of options. It's the top-trim S model with the most powerful engine, and we selected five of seven available option packages. The two we didn't pick were the cheapest ones. There were a handful of individual options we selected, as well, and one of them, the heated windshield, is one that you should definitely think twice about before choosing. The reason being that, in this editor's opinion, it's thoroughly irritating. I actually didn't even know our F-Pace had it the first time I signed it out for an evening. At the end of the day, I grabbed the key, walked down to the parking lot and drove it away without a second thought. A couple miles down Woodward Avenue, though, I noticed that my view out wasn't quite as clear as I expected. I figured the windshield was dusty or something, so on went the windshield washer for a few moments. After everything dried off, I had the same issue. I pulled the washer lever again and still nothing. I leaned forward and squinted my eyes, and that's when I spotted the minuscule heater wires across the entire pane of glass. And once I saw the wires, it was almost impossible to unsee them. My unobstructed view out the car suddenly turned into a CRT screen full of scan lines. They never kept me from safely driving the F-Pace (after all, they are extremely small), but I could never completely forget they were there. It's incredibly frustrating and it gets worse at night as the wires combine with oncoming headlights. I'm not the only one who dislikes them either, as Senior Editor John Snyder and Contributing Editor James Riswick voiced their displeasure with the feature. Not everyone in the office feels this way about the heated windshield, though. Associate Editor Reese Counts said that they don't bother him one bit. And in cold weather climates like Michigan, it should be handy for clearing snow, ice and condensation from the windshield. With these differing opinions, then, this is an option that you'll definitely want to experience for yourself before actually choosing it. You might find it unobtrusive or you might find it insufferable. As for me, I don't think I could deal with having those wires in my face all year 'round. I would rather spend 10 percent of the year when we have accumulating snow and ice scraping it off manually so that the other 90 percent of the year I have a crystal clear view of the road.

Jaguar has something special planned for Goodwood

It's been barely a week since JLR announced its new Special Operations division, dedicated to creating limited-run halo cars and custom creations for both the Jaguar and Land Rover brands. Now the British automaker has confirmed the debut of the division's first project.
We don't know what it is, exactly, that Jaguar will be bringing to the Goodwood Festival of Speed later this week, but we bet it'll be exciting. If we were the betting kind, we'd put our money on some kind of hot-rod F-Type, but we'll just have to wait and see.
Alongside whatever JLR Special Operations has got cooking, Coventry will also be bringing the new F-Type R Coupe and XFR-S Sportbrake to run up the hill alongside a whole slew of classic and racing Jaguars, including a pair of D-Types, a Group 44 E-Type, a Group A XJS and the reunion of XJR-9 and Andy Wallace that last saw each other on the top step of the podium at Le Mans in 1988.