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Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

Jaguar fully reveals the $71,445 XF S Sportbrake

Jaguar has finally revealed the 2018 XF Sportbrake without any sort of camouflage or subterfuge. It does look pretty much the way we expected, though; an XF with a longer, but still low and sleek roof. That's a good thing in our book. That nice, long roof also allows for an impressive 31.7 cubic feet of cargo space behind the rear seats, which we should point out is just a bit more than the far less attractive BMW 6 Series Gran Turismo revealed yesterday. The Jaguar XF Sportbrake also comes with plenty of performance since it's only available with all-wheel drive and the supercharged 3.0-liter V6 that produces 380 horsepower and 332 pound-feet of torque. Jaguar claims this powertrain will get the wagon to 60 mph in 5.3 seconds. Jaguar also includes self-leveling rear suspension on the Sportbrake. Inside, you'll find the same interior as the XF sedan, with one key difference: a vast, fixed sunroof. Though it's a bit disappointing that it doesn't open, the unbroken view of the outside is beautiful. But if you don't like the view, you can close a sun blind over it, and you don't have to touch a button. You simply wave your hand past a sensor and it will open or close. Though novel, we can see many incidents of accidentally opening or closing it while reaching for, say, the overhead map lights. The Jaguar activity key wristband is also available, along with large screens for instruments and infotainment. The sun blind gesture controls, activity key, and additional screens seem to be options though, as they aren't included on the base S model that starts at $71,445. That's nearly a $3,600 upcharge over the sedan. However, you do get a gorgeous car with more space. It's also barely more expensive than that aforementioned BMW. If you do want those fancy tech options, you can option them in, or have them added as part of the First Edition Sportbrake, which starts at $73,095. Related Video:

Jaguar Land Rover names new manufacturing chief for EV transformation

LONDON — Britain's biggest carmaker Jaguar Land Rover (JLR) is replacing its director for manufacturing as it prepares its plants for an electrified future, the firm said on Thursday. JLR operates three factories in its home market but is building its first electric car, the I-PACE, in Austria. The Indian-owned automaker's Chief Executive Ralf Speth told Reuters earlier this year he is waiting for more information on trading conditions after Brexit before he decides whether to make electric cars in Britain. On Thursday, he said Executive Director for Manufacturing Wolfgang Stadler is retiring from the business, to be replaced by Director of Quality and Automotive Safety Grant McPherson starting July 1. "He will oversee the ongoing investment into our UK and global manufacturing, transforming our plants to enable Jaguar Land Rover's exciting electrified future," Speth said. Reporting by Costas PitasRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2019 Jaguar I-Pace deep dive with designer Wayne Burgess