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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 Classic heading to Le Mans with vintage racers

A grid full of vintage Jaguars will rumble into France in July to race in the Jaguar Classic Challenge during the Le Mans Classic. The event should give motorsport fans plenty to watch with a bevy of pre-1966 Jags on the famous circuit, including E-Types, XKs, C-Types, D-Types, and even the company's sedans. Jaguar launched the vintage racing series last year to build on the success of the popular E-type Challenge. It continues with a five-event calendar this season but swaps out a meeting at Brands Hatch to go to Le Mans – hard to argue with that change. The drivers also get to lap Donington Park, Silverstone, the Nurburgring, and Oulton Park. Le Mans is practically a home track for these classic Jags. The British automaker dominated the 24-hour race there in the 1950s, including overall victories in '51, '53, '55, '56, and '57. "Watching a diverse array of pre-1966 Jaguars racing on the iconic circuit, some of which even raced there in period, will surely be a sight not to be missed," Tim Hannig, Jaguar Land Rover Classic Director, said in the season announcement. Again, we find it hard to argue with that sentiment. Related Video: Iconic Jaguar sportscars will return to the Le Mans circuit as the Jaguar Classic Challenge confirms Le Mans Classic in revised 2016 calendar Race series is part of Jaguar Land Rover Classic business specialising in cars, services, parts and experiences First race commences at the Donington Historic Festival on 30 April - 2 May Drivers wishing to take part in the true spirit of classic racing in 2016 can visit the dedicated web page at http://www.hscc.org.uk/jaguar-classic-challenge for full details Whitley, Coventry - 01 February, 2016: Excitement levels are building for the second season of the Jaguar Classic Challenge as the Le Mans Classic is confirmed for inclusion in the all-new race calendar for 2016. The Le Mans Classic will be one of the major highlights of the forthcoming season that will see a diverse field of pre-1966 Jaguars going wheel-to-wheel in the competitive single-marque series. Jaguar has a long and successful history at Le Mans, with the marque first winning there back in 1951 with Peter Walker and Peter Whitehead driving the C-type - affectionately known as XKC 003. A one-two finish followed this in 1953 with the duo of Tony Rolt and Duncan Hamilton taking overall honours. Jaguar dominated Le Mans for three consecutive years in 1955, 1956 and 1957 in the D-type.

Jaguar Project 7 Concept

The Jaguar Project 7 Concept debuted at the Goodwood Festival of Speed just last month. But unlike most concepts, which serve only to collect fingerprints on a stage, the track-ready one-seater spent its days barreling past the hillclimb crowds with Mike Cross, chief engineer of vehicle integrity at Jaguar, beaming behind its right-hand-drive steering wheel. What's more, the powers that be at Jaguar even let yours truly drive the Project 7 during the Concurs d'Elegance festivities at Pebble Beach last week.
Built on an all-aluminum V8 F-Type chassis with modified suspension, the Project 7 (a name acknowledging Jaguar's seven Le Mans wins between 1951-1990) is best thought of as an F-Type masquerading as a D-Type. The two-door is fitted with a supercharged 5.0-liter V8 good for 550 horsepower (no pictures as Jaguar wouldn't allow us to open the hood). An eight-speed automatic, with a torque converter, sends the power the rear wheels, allowing the single-seat roadster to crack the 60-mph benchmark in just over four seconds.
Modifications to the bodywork include a new lowered windshield, carbon-fiber aerodynamics and a rear fairing with integrated rollover hoop. The driving position has also been lowered by more than an inch, allowing the sole occupant to not only escape the airflow, but take advantage of a lower center of gravity.