2003 Jaguar Xj8 Base Sedan 4-door 4.0l on 2040-cars

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Formula E is on track financially, with NYC race coming up

LONDON - Formula E could be breaking even already were it not investing for the future, chief executive Alejandro Agag said on Monday after the electric motor racing series reported continuing losses in its latest annual accounts. Accounts filed at Companies House showed Formula E Operations Ltd reduced its operating loss to 33.7 million euros ($38.32 million) at end-July 2016, a period covering its second season, from a previous 62.7 million. Net liabilities rose to 107.2 million euros from 72.1 million, while total revenues reached 56.6 million from a previous 19.7 million. "Everything is going according to plan," Agag, whose city-based series will be racing in New York for the first time on July 15 and 16, told Reuters in an interview at his London offices. "Actually we are doing incredibly well financially according to our plan. "We could have broken even this year but we decided to invest more in marketing and promotion. We decided to add races like the one in New York, which is in year one a race which is costing, we have significant capital expenditure." "It's really up to us when we want to go to break even or not. We could be in break-even now, we could be in break-even next season but we may decide to invest more in marketing and promotion." Agag said the shareholders, including John Malone's Liberty Global and Discovery Communications, were supportive of the strategy and the series had attracted more investors, sponsors and car manufacturers. The New York races will be held in Brooklyn's Red hook neighborhood, with lower Manhattan and the Statue of Liberty as a backdrop with technology partner Qualcomm securing the naming rights. MANUFACTURER INTEREST Agag, whose series plays down competition with Liberty Media-owned Formula One, said more carmakers were set to join a series increasingly aligned with their commercial focus. "I think Formula E has become the preferred destination for manufacturers and there are a few reasons for that," said the Spaniard. "Obviously, one is that it is electric and manufacturers are more and more focusing on electric cars...and we are the only platform really to help them promote that technology and those types of cars. "And second, because of the cost. The cost of the team in Formula E is very moderate." Whereas top Formula One teams can burn through $300 million a year, as can the likes of Toyota in the World Endurance Championship, the budgets of successful Formula E teams are between 10 and 15 million.

Cargo ship carrying 1,200 Jaguars and Land Rovers deliberately run aground [w/video]

A cargo ship carrying a load of new cars out of Southampton has run aground in the English Channel in between England and the Isle of Wight. The vessel apparently suffered some sort of failure just 45 minutes after leaving port that caused it to list heavily to the starboard side before the crew deliberately beached it on Bramble Bank to prevent the ship from capsizing altogether. The vessel, called the Hoegh Osaka, is a 590-foot car carrier weighing some 57,000 tons and registered in Singapore. Although several automakers (including Honda and Bentley) were reportedly looking into whether they had cars on board, the vessel is said to have been filled to approximately one-third its capacity, with 1,400 vehicles on board – including 1,200 Jaguar and Land Rover vehicles, 65 Mini models and one Rolls-Royce Wraith. 70 to 80 pieces of construction equipment were also said to be on board. The Hoegh Osaka was en route from the southern British port of Southampton to Bremerhaven, Germany. Fortunately, no major injuries have been reported. The crew was mostly airlifted by helicopter off of the beached ship, with two crew members evacuated by lifeboat. One crew member reportedly jumped over 25 feet off the ship into the water before being immediately retrieved by rescue workers. According to the Daily Mail, two crew members were treated for non-life-threatening injuries, including a broken leg. It may take several days, if not longer, to extract the vessel from the sand bank and ascertain the damage to the ship and its cargo. An early attempt to free the ship with tugboats failed, meaning that the Maritime and Coastguard Agency may have to wait until more favorable high tides to try again before towing the ship back into the port. Bramble Bank, where the vessel was run aground, is a well-known obstacle to maritime navigators. The Queen Elizabeth 2 ran aground there in November 2008 with 1,700 passengers on board, but was quickly freed by four tugboats and was able to continue on its way. Two local yacht clubs also play a cricket match there every year at low tide. The vessel's operator, Hoegh Autoliners, praised the skill and quick thinking of the crew in acting to prevent the ship's capsizing by running her aground on the soft, sandy shoal. Watch the clip below for aerial footage of the beached ship, courtesy of the BBC. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jaguar is developing an electric car to join I-Pace crossover

NEW YORK — Straight from nabbing the World Car of the Year award at the New York International Auto Show for the new 2019 I-Pace electric crossover, as well as publicly unveiling the 2020 XE sport sedan, Jaguar's design chief says the brand is also developing a car with a fully electric powertrain. "We are doing more battery cars at Jaguar, yes," Ian Callum told Autoblog. "That's all I'm saying." Callum wouldn't divulge further details except to add, "When you're doing electric cars, they're new cars. They're not just batteries put in an old car. You can't do that." Jaguar has been rumored to be planning a potent all-electric version of the XJ based on its flexible new Modular Longitudinal Architecture. Jaguar Land Rover has said that it plans to offer each new or significantly redesigned model in electrified variants starting in 2020. Land Rover is also showing a mild-hybrid version of the 2020 Range Rover Evoque and 2019 Range Rover Sport, plus plug-in hybrid variants of the 2020 Range Rover and Range Rover Sport. In addition to being named World Car of the Year, the I-Pace took home World Car Design of the Year and World Green Car of the Year. The F-Pace, the brand's flagship SUV, won World Car of the Year in 2017. Callum also said he believes that sedans have a future, even as he acknowledged the importance of SUVs as the brand's volume-selling "breadwinners." Jaguar is an increasingly rare breed of automaker with more cars, at four [the F-Type, XE, XF and XJ] than SUVs [the I-Pace, E-Pace and F-Pace]. "The vehicle mix is the right balance," he said. "I personally don't believe that sedans are going to disappear. People will continue to go with sedans. The range you see currently will be eventually replaced by like-sized cars. That's all I can say about that at the moment, but the XJ will be replaced, and eventually the XE and XF will be replaced. I really believe the cars are here forever, I don't think they're going to disappear in favor of SUVs."