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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Jaguar creates custom Greatest Hits XJ for Iron Maiden drummer

Manufacturers like Alfa Romeo and Toyota are trotting out Nurburgring-themed special editions like NRING and GRMN, but for Jaguar, it's all about the NWOBHM. That's New Wave of British Heavy Metal, for those who do not start their day with some '80s hair metal turned up to 11. Jaguar is celebrating the venerable XJ sedan's 50 th anniversary this year, and as part of that, the Jaguar Classic Works department in Coventry, England, has built Iron Maiden drummer Nicko McBrain's perfect Series III XJ. The custom car, nicknamed "Greatest Hits," is the product of over 3,500 work hours and 4,000 redone parts. The Series III is, for some, the ultimate development of the first XJ body style, and McBrain's car is his third Series III. It's in most respects a restomod, as the front and rear bumpers, headlights, wheels, infotainment and other details have been modernized; the interior features rock-inspired custom touches like the guitar amplifier-style rotary knobs on the dashboard. The speakers of the 1,100-watt audio system are from the 2012 model year Jaguar XF, as those are what McBrain prefers. The steering wheel logo is a combination of the Iron Maiden mascot, "Eddie," and the Jaguar "Growler" logo. The Jaguar leaper mascot on the hood is from McBrain's first Jaguar XJ6; the paint is a special deep purple, and the interior has been retrimmed with Pimento red leather. But it's not just the appearance of the "Greatest Hits" XJ that has been massaged, as the 4.2-liter straight six of the 1984 XJ6 has been upgraded with three E-type SU carburetors. It also has a custom exhaust with quad tailpipes. There have been nine XJ series so far, and the 10th version is expected to arrive sometime next year. There are persistent rumors that it might eschew internal combustion completely, facing a reinvention as an electric sedan instead. Related Video: Featured Gallery Iron Maiden Jaguar XJ "Greatest Hits" View 13 Photos Image Credit: Jaguar Aftermarket Geneva Motor Show Jaguar Luxury Classics Sedan 2018 Geneva Motor Show

Lister is now taking offers for 200 mph LFP SUV

Lister is now taking orders for its new LFP SUV, which is a heavily tuned version of the Jaguar F-Pace. Stock, the F-Pace's supercharged V8 engine makes a handsome 380 horsepower, and the SVR version is good for 550 hp. Lister is intent on making the LFP the world's fastest SUV, so that power output has grown to 670 horsepower. The 0-62 mph sprint will only take 3.5 seconds, and Lister says the LFP will go on to reach a top speed of 200 mph. This would leave the 190 mph Lamborghini Urus in second place. While the 707-horsepower Grand Cherokee Trackhawk can hit 62mph in 3.6 seconds, its top speed is "just" 180 mph; the Alfa Romeo Stelvio Quadrifoglio is good for 176 mph and it hits 62 mph in 3.8 seconds. The Tesla Model X, on the other hand, is capable of a 2.9-second 0-62 mph blast, but it will only reach a limited top speed of 155 mph. The company says the LFP's bold top speed figure can be achieved partly thanks to extensive use of carbon fiber – however, the wording is still served with a grain of salt, as Lister says the LFP will "potentially" be the world's fastest SUV, and the claims are yet unverified. The carbon-aided weight reduction also has handling benefits for the large SUV. Lister also released these photos of the LFP, complete with interior shots depicting a more racing-inspired cabin, yet trimmed with luxurious materials. Or as the company blurb says: "Take a look at the interior to see how comfortable 200mph can be". Lister prices the LFP at GBP140,000, or a touch over $180,000. Related Video: