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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.

2016 Jaguar F-Type ups warranty, adds standard equipment

The 2016 Jaguar F-Type is getting all-wheel-drive and an optional six-speed manual gearbox. That, of course, has been the big news surrounding the British brand's stylish two-seat coupe and cabrio since it was announced back in November. For 2016, though, Jag has done a lot more than just update the F-Type's powertrain – it's made life easier for the car's future owners. Jaguar has generously upped the complimentary service period for the 2016 F-Type, going from covering the first service only, to handing out five years or 60,000 miles of free maintenance to owners of the 2016 F-Type. That is, frankly, stupendous. That new plan is paired with an extended warranty, which has been expanded from five years or 50,000 miles to match the new complimentary service period. Coventry has also significantly added to the list of standard equipment for 2016, offering a 770-watt Meridian stereo, SiriusXM satellite radio, a SmartKey, 14-way power seats and on the hardtop models, a glass roof. Again, that's all standard equipment now. S models now get the standard dynamic mode, flat-bottomed wheel and active exhaust system. R models, as we said back in November, get all-wheel drive as standard. Most remarkable about all of this, though, is how little the new standard equipment has impacted the F-Type's price. The manual-trans Coupe matches last year's $65,000 starting price, while adding an eight-speed automatic kicks the price up $1,300. The S Coupe is slightly pricier than last year's $77,000 mid-grade model, starting at $77,300 for the manual and $78,800 for the automatic. The all-wheel-drive S Coupe starts at $84,800. The R, which as we said, enjoys standard all-wheel-drive, is getting the biggest price bump, with the Coupe model going from $99,000 to $103,600. The all-new Jaguar F-Type R Convertible starts at $106,450. Beyond that, if you want an F-Type with a canvas roof, add $3,100 to the prices shown above. So there we have it – a longer warranty, five years of free maintenance more standard equipment and a negligible increase in price. Um, why can't all model year updates be so nice? Check out the press release for more on the updated F-Types from Jag. Related Video: JAGUAR HITS THE GAS PEDAL ON U.S. 2016 F-TYPE LINEUP TO RAISE PRESSURE ON THE COMPETITION ? Jaguar ramps up F-TYPE value advantage by increasing standard equipment and features by $3,550 for F-TYPE to $11,850 for F-TYPE R models.

Are you the Jaguar F-Type Coupe R-S?

It's no secret that Jaguar is working on a fixed-roof version of the F-Type roadster, but now it looks like it's also developing a high-performance model for said coupe. Captured sharpening its claws at the Nürburgring, this F-Type Coupe prototype could very well be an R-S or even a more track-ready R-S GT variant.
Our biggest clue suggesting the latter are its massive brake rotors with bright-yellow calipers - similar pieces are also found on the recently introduced XKR-S GT. This would make sense, since a report in May said that Jaguar is looking to create a full line of R-S GT models in a similar fashion as the Mercedes-Benz AMG Black Series. Missing from this prototype, though, are the telltale aero add-ons we seen on the XKR-S GT - go-faster bits like the latter's front fascia winglets and rear wing, though this model is obviously still being developed. Regardless of what this new grippier, quicker kitty is called, we say "Yes, please."