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Jaguar Land Rover undergoes $3.2 billion turnaround plan as sales slump

MUMBAI — India's Tata Motors on Wednesday announced a turnaround plan for its luxury car unit Jaguar Land Rover, which has been hit hard by trade tensions between China and the U.S., low demand for diesel cars in Europe and worries over Brexit. Under "Project Charge," Tata Motors said it plans to cut costs and improve cash flows at Jaguar Land Rover (JLR) by 2.5 billion pounds ($3.2 billion) over 18 months. JLR also plans to launch several new vehicles, including the Jaguar I-Pace and the new Range Rover Defender over the next few years and will offer a hybrid or full-electric version of all its models by 2020. "Together with our ongoing product offensive and calibrated investment plans, these efforts will lay the foundations for long-term sustainable growth," JLR CEO Ralf Speth said after Tata Motors reported a quarterly loss. JLR has trimmed its pre-tax profit expectations for the current fiscal year ending March 31, 2019, and expects to break even, Speth said, versus an earlier target of profit growth. As part of the turnaround plan, JLR will first focus on cash-saving "quick wins" like reducing non-product investments and speeding up asset sales, Tata Motors said in an investor presentation. In the near term it will improve efficiency in areas including purchasing and material cost, manufacturing, logistics and people, and will focus on strategic and non-core asset sales. JLR has already reduced the number of production days at its UK plants in Castle Bromwich and Solihull. The company said in its presentation it has saved 300 million pounds since it initiated the turnaround plan six weeks ago and is working on 500 ideas for the future. Tata Motors reported a loss of 10.49 billion rupees ($141.9 million) for the July-September quarter, compared with a profit of 24.83 billion rupees in the year-ago period. That was worse than the estimate of a loss of 2.40 billion rupees, according to Refinitiv data. JLR reported a loss of 101 million pounds during the quarter and its margin on earnings before interest, tax, depreciation and amortization (EBITDA) fell 130 basis points to 9.9 percent. Retail sales of its Jaguar sedans and Land Rover sport utility vehicles (SUVs) fell 13.2 percent to about 130,000 units, hurt particularly by tariff changes in China and escalating trade tensions. Demand in China remained muted even after the country cut import tariffs for cars and car parts to 15 percent for most vehicles from 25 percent from July.

Autoblog Podcast #396

Episode #396 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Chris Paukert talk about the 2016 Mazda MX-5 Miata, the 2016 Jaguar XE, and the 2015 Lexus RC. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening!
Autoblog Podcast #396:
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2018 Jaguar F-Pace: Ambient lighting is fun and frustrating

Like so many other automobiles from this decade, our long-term Jaguar F-Pace crossover has customizable interior lighting, a part of the $2,350 Luxury Interior Package. I've previously admitted to the fact that ambient lighting has me split in opinion. On the one hand I know that it's probably going to end up being dated and uncool in the future. On the other, I actually quite enjoy it, possibly because I grew up in the neon-fueled world of early '00s import tuner culture. I also like it from a color-coordination perspective. Our Jaguar's bold blue hue called Caesium can be brought inside with equally bright illumination. It's very satisfying. But that satisfaction of having everything just so is quickly sullied as the center stack and switches are only one color that can't be changed. Admittedly, that's completely normal, but unlike many of those other cars that use neutral white illumination, the Jag's light up in the same blue/teal color that made your Razr phone look cool so many years ago. And so whether you bathe your cabin in blue, red, purple or green light, the ambient lighting will clash with the main switch gear. You can pick a shade of blue for the ambient lighting that roughly matches the switches, but I don't want to compromise my color preference because Jaguar didn't put in LEDs in that would be neutral (or, even better, change to match the ambient settings). I have other complaints about color-matching in the car, too. The instrument panel, which is a flat screen, has a few different display modes, but most of the readouts use a similar (but not quite the same) blue/teal color as the switchgear. So that doesn't match, either. Then, in the sport mode, the instrument screen switches to red. That brings me to my next gripe: all the ambient lighting switches to red when choosing this mode. I get it, red means sporty and Jaguar wants everything about sport mode to feel sporty. But damn it, I paid for custom lighting, let me keep that lighting when I'm also in a sporty mood. I actually sometimes skip the sport mode because I want to be swathed in my favorite hue more than I want slightly more sporty driving dynamics. Oh, and of course the switchgear remains teal/blue even in sport mode. So yes, this is picky. But that's the beauty of evaluating a car like the F-Pace over a longer period of time.