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Jaguar Land Rover won't get a bailout from the UK

Bailout talks between Jaguar Land Rover and Tata Steel with the UK government have ended, leaving both firms to rely on private financing to overcome the impact of coronavirus on business, the Financial Times reported on Friday. The report said that talks for an emergency funding fell through as Jaguar Land Rover (JLR) did not qualify for taxpayer support. It is the luxury car unit of India's Tata Motors and Tata Steel, both owned by Indian conglomerate Tata Group. The bailout plan, titled "Project Birch", had been authorized by Finance Minister Rishi Sunak in May to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a "last resort" basis after other options run out. The report, citing a source familiar with the matter, said that the funding scheme became infeasible for Tata as it imposed strict conditions on any lending. "Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support," Tata Steel said in an emailed statement. The UK Treasury said it would not comment on individual companies. Tata Motors did not immediately respond to request for comment. Related Video: Earnings/Financials Government/Legal Jaguar Land Rover

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation

Jaguar XE to start at $35,895, XF at $52,895

Jaguar has announced pricing for two of its most anticipated models, the new, entry-level XE sedan and the second-generation XF. The British marque also released price changes across its range and unveiled a new customer service pack called EliteCare. As you can see from the headline, the new XE starts at $35,895. That'll score you the base model, the so-called 25t, and its 2.0-liter, turbocharged four-cylinder engine. That puts the baby Jag right in the meat of a very competitive segment. It'll be undercut by the Cadillac ATS, BMW 320i, and Acura TLX, but it's a good bit more affordable than the Mercedes-Benz C-Class, Infiniti Q50, or Lexus IS. If you like your fuel extra smelly and your torque to be offered by the bucket-full, be prepared to shell out $37,395. The 340-horsepower, 3.0-liter, supercharged-V6-powered XE 35t will require at least $42,695. The XE's big brother, meanwhile, is subject to a significant price drop. The new base model, the 340-horsepower 35t, rings up at just $52,895, or over $5,200 less than the entry level V6-powered 2015 XF. Once again, Jag has parked itself in the middle of a popular segment, although unlike the XE, the vehicles that undercut the XF – the Infiniti Q70 and Acura RLX – are old or not particularly popular among consumers. That's good news for JLR, since the new sedan easily undercuts the BMW 5 Series and Audi A6, while sneaking in just below the likes of the Mercedes E-Class or Cadillac CTS. And if you're in mourning for the 2.0-liter, turbocharged XF, don't be – the new 35t is only $2,000 more expensive, is lighter, and has 100 more horsepower. Finally, we have Jaguar's new EliteCare program. Essentially, should you purchase anything from model year 2016 and beyond, your car will be subject to a limited warranty, free scheduled service, and 24/7 roadside assistance for five years or the first 60,000 miles of ownership. Owners will also have access to Jaguar's InControl Remote and Protect services for the first 60 months. According to the Brits, the warranty is the best in the class, while the free maintenance lasts longer than the competition. Read on for the full press release from Jaguar, which includes details and other small pricing tweaks for the company's range.