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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.

Jaguar F-Pace leaps into crossover segment [UPDATE]

UPDATE: Jaguar has issued a statement indicating that the F-Pace cargo volume specified in the original official press release, was incorrect. In short, the correct figure is 33.5 cubic-feet, not 23 cu-ft, and we've updated the text. Here's the statement: "The previous draft of the release we issued incorrectly identified cargo volume in the Jaguar F-PACE using a figure that was not calculated using the US Market standard SAE methodology. The correct specification for rear load space volume in the 2017 Jaguar F-PACE with the second row seats up is 33.5 cu.ft., not 22.95 cu.ft." It's been two years since Jaguar showed off the C-X17 concept crossover at the Frankfurt Motor Show, giving us a deep metallic blue taste of what the world would look like with a leaping-cat in it. Here we have the production result, the 2017 F-Pace, coming to dealerships in Spring 2016. It will be offered in four trims - Premium, Prestige, R-Sport, and S - with three engines. Two supercharged V6 engines come at launch, one with 340 horsepower, the second with 380 hp, both shifting through the same ZF eight-speed transmission from the sedan range. Some time after that a 2.0-liter Ingenium diesel will join the lineup, offering 180 hp and 317 lb-ft. To get in, the price for that eventual diesel is will be $40,9907, while the V6s start at $42,390 and $56,700. If you liked the look of the C-X17 then there's nothing to put you off the F-Pace. The illuminated intakes from the concept are gone and the fender vents have a slightly different graphic, but otherwise you'll find Waldo before you'll find significant exterior changes. The body is one third aluminum, tweaked with high-strength steel, magnesium, and composites creating torsional stiffness numbers that match the new XF. Wheels go from 18 inches to 22 inches, hung at the ends of a double-wishbone setup in front, an integral link suspension in back, and monotube dampers all around, over a wheelbase that's 113 inches. Short overhangs front and back that mean a maximal approach angle of 25.5 degrees, a max departure angle of 25.7-degrees. The standard instrument binnacle is two analogue dials flanking a TFT display, the upgraded unit is a 12.3-inch virtual instrument cluster. It sounds like the interior trim will go as high up as you want it - something has to justify the $14,310 price difference between the V6 models - with "available leather" on the low end, aluminum mesh and satin grey ash at the other end.

Jaguar ousts Lexus from atop J.D. Power 2013 Sales Satisfaction Index

Jaguar has taken the top spot among luxury brands in the 2013 Sales Satisfaction Index, an annual survey conducted by J.D. Power that measures customer satisfaction with the experience of purchasing a new vehicle. The English brand, not even among the top three luxury automakers on the list last year, vaulted ahead of Lexus, which placed third this year after leading the list in 2011 and 2012. Porsche, meanwhile, moved into second place.
The rankings are based on a point score out of 1,000, with Jaguar earning 740 points, Porsche right behind with 739 and Lexus with 737. Volvo, meanwhile, made the biggest improvement among luxury brands with a 30-point jump to 708, bring it up from 11th place to 9th this year.
J.D. Power has a separate ranking for mass-market brands, and this year Mini again tops the list with a score of 718, far outpacing second-place Buick with a score of 694 and making it the fourth time Mini has lead this list. After Buick, the next two ranked brands are both American and both from General Motors, with Chevrolet and GMC sharing third place with a score of 686.