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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.

Ian Callum says Jaguar could do new wagon after all

Just the other day we brought you a report from Automotive News Europe that indicated that Jaguar was getting out of the wagon market. Now it turns out that may not actually be the case. Following the ANE report, Jaguar design boss Ian Callum tweeted out that he had been misquoted. "I said there would be no XE Sportbrake," wrote Callum. "Nothing more!" While stopping short of spelling out what the British automaker has in the pipeline, Callum's implication (by process of elimination of other Jaguar models) is that the new XF could still breed a wagon version. The previous XF Sportbrake, which also came in XFR-S performance spec, was only the second wagon Jaguar had ever made. The first was based on the X-Type that preceded the new XE; offering a long-roof version of that new sports sedan is apparently off the table, but even with the new F-Pace crossover ostensibly filling the role, a new XF Sportbrake could yet become a reality. Of course none of that means that such a wagon would make its way to North America. But we take a great deal of stock in what Callum has to say on the subject, seeing as how he designed every one of the models in question. The X-Type Sportwagon was offered Stateside, however the XF Sportbrake never was, and in addition the F-Pace promises to be a big player for the automaker on this side of the Atlantic. Do you think Jaguar should make a wagon out of the new XF, and bring that wagon to these United States? This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video:

Jaguar Land Rover's latest tech makes roads safer for bikes [w/video]

Safety in automobiles isn't just about protecting the occupants anymore. It's about protecting pedestrians who might be struck by an automobile, and as Jaguar Land Rover is demonstrating, it's about protecting cyclists as well. The latest experimental safety system from the British automaker is called Bike Sense, and it builds upon technologies the company has demonstrated recently, taking them a step further to make the road safer for those riding on two wheels. The system uses a combination of colors, sounds and vibrations to alert the driver of a potential hazard that might have otherwise gone unnoticed. Demonstrated on an XJ sedan, the system identifies nearby two-wheeled vehicles as pedal-powered or motorized, and alerts the driver accordingly. If a cycle is passing a the vehicle's blind spot, the top of the seat will vibrate to virtually "tap" the driver on the left or right shoulder, prompting him or her to look over that shoulder for the hazard. LEDs inside the cabin will then illuminate amber to red in the direction that the bike is passing. The system will even chime a bicycle bell or motorcycle horn as the two-wheeled vehicle approaches, and vibrate or stiffen the accelerator pedal if the driver keeps moving towards the obstacle. And if an occupant of the parked vehicle starts to open the door into the path of moving vehicle, it'll flash a light, sound an alarm and even vibrate the door handle to warn the occupant of the oncoming hazard. We could imagine the alerts getting a little distracting, but JLR says the system is designed to prioritize potential hazards when their are groups of pedestrians, bicyclists and/or motorcycle riders on a busy urban street. This is, of course, just the latest in a long string of new systems JLR has under development, following such technologies as the Transparent Bonnet, the Smart Assistant, the Virtual Windscreen for track sessions and the 360 Virtual Urban Windscreen for city driving. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.