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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.

David Brown Speedback GT marks US debut at The Quail

The British invasion has officially deployed another expeditionary force to these American shores with the arrival of the David Brown Speedback GT. The classically styled English grand tourer debuted nearly a year and a half ago, and has been racking up orders from discerning customers in the UK and across continental Europe. As promised, it has now made its American debut at the swanky Monterey event known as The Quail, A Motorsports Gathering. The Speedback GT is a coachbuilt grand touring coupe made by British startup David Brown Automotive. It's based on a Jaguar XKR, but reskinned inside and out to give it the look and feel of a classic Aston Martin – little wonder given the name it shares with the former Aston chief whose initials still adorn the DB model line. Underneath the retro bodywork lies Jaguar's celebrated 5.0-titer supercharged V8, giving the Speedback thoroughly modern levels of muscle with 510 horsepower and 461 pound-feet of torque. The resulting 0-60 time of 4.6 seconds and top speed of 155 miles per hour are suitably quick – not quite time-warping, but the performance is certainly nowhere near as old-school as the design would lead you to believe. Call it the best of both worlds, then, if you dig the styling. But don't expect everyone to be jumping on this particular gentlemanly bandwagon. At nearly half a million pounds sterling – over $750k at current exchange rates – it's sure to keep out the riffraff of which "the rest of us" are most certainly part. Featured Gallery David Brown Speedback GT: Monterey 2015 View 14 Photos Image Credit: Copyright 2015 Drew Phillips / AOL Misc. Auto Shows Jaguar Coupe Luxury Pebble Beach david brown automotive

Jaguar lets first outsiders drive new F-Type

What do you do when you're an automaker with an all-new and brand-defining sports car, one of them with a supercharged V8 cranking out 495 horsepower? You let proven race drivers test them out on track and on the road.
And what do you do if you're Jaguar and you're in that situation? Why, naturally, you make a video of it. That's how we get footage of racers Martin Brundle, Justin Bell and Christian Danner being choppered into the UK's Snetterton track to test the V6-equipped Jaguar F-Type S prototype. Then when they're finished with kerb-lined apexes, they take the V8 S prototype out onto the roads to run it through hedge-lined apexes.
According to one of them, "very fast, very nimble, great engine" is what will soon be headed our way. Check it out in the video below.