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GM, Audi, Jaguar halt Russian sales amidst ruble's collapse

The value of Russia's ruble currency has sunk like a stone tossed in the Volga for much of the year, losing over 40 percent of its worth since June. The change is having bizarre effects on the auto industry there and leaving some automakers scrambling to adjust. According to Bloomberg, Russians are buying up luxury goods including automobiles at the moment to have a physical investment in case the ruble sinks further. However, with the money worth so little, the companies aren't making much from these transactions. Things are so dire that several automakers are temporarily ending deliveries until the situation stabilizes. According to Bloomberg, General Motors stopped sales on December 16 with no set date to start again. Audi did the same thing but with the intention to resume once it has adjusted model pricing. Jaguar Land Rover terminated business until December 19 to see how things changed. Toyota is increasing its pricing, as well, but keeping business open at the same time. Some automakers have subtly been reacting to the slumping Russian auto market all year. The moves have included Volkswagen cutting production by 30,000 units from its factory in Kaluga. Ford also got rid of 950 workers from two plants due to low demand. Some analysts have even speculated that the contracting industry and possibility of lower import duties into the country could cause companies to end their manufacturing in Russia completely.

Jaguar celebrates 60 years of the E-Type with six pairs of restomod cars

Jaguar is celebrating 60 years of the E-Type — which was known as the XK-E in the United States — by giving 12 cars a full in-house restoration that includes a handful of 21st-century updates. Sold exclusively in pairs, the six coupes and six convertibles are inspired by the cars shown in Geneva during the model's introduction in 1961. Developed to replace the XK150, the E-Type was presented to the public and the press on March 15, 1961, at the Geneva auto show. Two examples made the trek from England to Switzerland: a gray coupe wearing registration number 9600 HP and driven by publicist Bob Perry, and a green roadster registered 77 RW put in the hands of official Jaguar test driver Norman Dewis. Both cars were driven to the event; the coupe arrived in Switzerland minutes before it was scheduled to make its debut, and the roadster was rushed to Geneva the following day. Jaguar chose not to re-release either car. Instead, it will paint the six coupes in a special shade called Flat-Out Grey, and it will give the six convertibles a coat of Drop Everything Green. It pointed out that both colors were created specifically for the 60 Edition models, and that neither will be used on another car. Edition-specific emblems created by Jaguar's design department appear on the hood and on the fuel cap, among other parts. Jaguar E-Type 60 Edition View 11 Photos Sitting in the cabin is like traveling to the 1960s. The driver faces a wood-rimmed steering wheel with drilled spokes (and a non-original 24-carat gold horn button), analog gauges, and an array of switches on the dashboard. Coupes receive Smooth Black leather upholstery, while convertibles get Suede Green leather. Don't look for power windows or automatic headlights. You'll need to manually roll down the windows and turn on the headlights. There's tech if you look, however. Jaguar concealed a modern infotainment system with satellite navigation and Bluetooth connectivity, for example. While that's available on any of the resto-modded E-Types the firm builds, the 60 Edition cars stand out from with an engraving of the route from Jaguar's headquarters in Coventry to Geneva, Switzerland, on the center console. It's created by hand in 100 hours by Johnny Dowell, who also goes by the name King Nerd. On the coupe, the engraving reads "I thought you'd never get here," words spoken to Perry by Jaguar founder Sir William Lyons after he arrived in Geneva.

Jaguar Land Rover to cut $6.8 billion in costs

Jaguar Land Rover reduce costs by $6.8 billion and will push annual production volume to 1 million vehicles under a secret project called Leap 4.5, according to Reuters. The British automaker wants to achieve these ambitious goals by the end of the decade to compensate for the changing market in China and to counteract the price of meeting stricter emissions standards around the world. Leap 4.5 won't mean firing workers or cutting the automaker's $4.5 billion annual research budget. JLR will instead find savings by underpinning more models with modular platforms and by adjusting its supply chain. Future factories like the one in Brazil and the proposed plant in Slovakia also won't be affected by the new strategy. Globally, JLR continues to grow, and deliveries are up two percent through October 2015 to 390,965 vehicles. Business just last month was up 24 percent year-over-year to 41,553 units. However, the auto market's downturn in China has taken a bite out the automaker's success because volume dropped there 32 percent in the third quarter, Reuters reported. A global volume of 1 million vehicles will mean more than doubling 2014's 462,678 deliveries, but JLR has made significant investments to boost production recently. In addition to the future factories, it opened its first plant in China last year and an engine assembly site in the UK. The company also signed a deal with Magna Steyr in 2015 to build an upcoming model in Austria. Related Video: