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Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

Jaguar I-Pace vs. Tesla Model X and Model S: How they compare on paper

When Jaguar released its first specifications on the 2019 I-Pace, we decided to see how it stacks up with a number of other EVs including the Tesla Model 3, Chevy Bolt EV, and Hyundai Kona EV. The reason being that they all deliver between 200 and 300 miles of range, and they were all quite close in size. But it wasn't a perfectly accurate comparison, because the Jaguar occupies an odd space in the electric market. While it offers similar range and size to those more entry-level EVs, it packs substantially more power, more brand cachet, and, once the official pricing was released, a much higher price tag. As such, we wanted to also compare it with the cars synonymous with luxury electric motoring (literally), the Tesla Model X and Model S. We're only comparing it with the base-level 75D models of each Tesla, since they are the closest in price and performance to the Jaguar. You can see the raw stats below, and can find more analysis and highlights farther down. If you'd like to compare these cars with others, be sure to try out our comparison tools. Performance All three of these electric cars use a similar powertrain consisting of two electric motors, one up front and one in the rear to power all four wheels. The Jaguar I-Pace's 394 horsepower and 512 pound-feet of torque is a fair bit more than the 328 horsepower and 387 pound-feet combined power from the Teslas, according to Motor Trend. But in the sprint to 60 mph, the Jaguar doesn't really gain an advantage. It's 0.4 seconds quicker than the Model X, but 0.3 sec. behind the Model S. This is despite the Jaguar weighing about the same as the Model S, and a few hundred pounds lighter than the Model X. View 32 Photos At 90 kWh, the Jaguar also has a larger battery capacity than the Tesla 75D models, but range is again mid-pack between Musk's cars. At 240 miles, it's just 3 miles ahead of the Model X, and 19 miles behind the Model S. The I-Pace and Model X also are about as hungry for electricity as each other, both with an energy consumption estimate of about 36 kWh/100 miles, while the Model S is the most frugal at 33. All three vehicles have the ability to use DC fast chargers, with Jaguar claiming an 80-percent charge in 40 minutes at a 100-kW charger. But only the Teslas have access to the Supercharger network, and they come with credits for free charging up to 400 kWh at those stations. Exterior and Interior Dimensions In every measurable way, the Jaguar is smaller than the two Teslas.

Jaguar Land Rover may build factory in Saudi Arabia

The Middle East is one of the fastest-growing markets for Land Rover, so it makes sense that the automaker is looking to set up shop in the region. According to Automotive News, Jaguar Land Rover is in talks with the people of Saudi Arabia to build a factory in the country at an expected initial cost of $1.2 billion. Still in the early stage of talks, the proposed facility could start up by 2017 using locally sourced materials such as steel and aluminum.
Such an arrangement could be beneficial for both entities as Saudi Arabia looks to diversify its oil-reliant economy and Land Rover could get local production capacity of around 50,000 units. The report also says that the agreement talks about the possibility for Jaguar models to be built at the same plant further down the road.
This won't be the first vehicle produced in Saudi Arabia - that honor goes to the KSU Gazal-1 - but it will be the first from a major global automaker.