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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.

Junkyard Gem: 2005 Jaguar X-TYPE 3.0

During the Premier Automotive Group phase of Ford's ownership of Jaguar, it seemed to make sense to create a Jaguar that non-oligarchs could afford. By taking the Ford Mondeo (sold as the Ford Contour/Mercury Mystique on our shores) and adding luxury touches plus Jaguar styling, the X-TYPE came into being and hit American showrooms starting in the 2002 model year. Fast-forward a decade or two and it's no sweat to find entry-level European luxury sedans lined up in your local Ewe Pullet. Here's a decal-enhanced '05 X-TYPE 3.0 AWD I found in a yard near Pikes Peak a couple of months back. This car shows signs of having been loved dearly by its final owner. Since the paint is Topaz Metallic, which is sort of a gold shade, its name became Goldie. Goldie was sweet, it would seem. Perhaps the dripping-blood decal indicates that Goldie's sweetness was alloyed with cruelty. Paw-print, bloody-claw-mark, and Jaguar stickers abound. Goldie has eyes both at the top of the windshield and on the front bumper. Her headlights appear to leak blood. Those who might criticize these customization touches come face-to-face with this message at the windshield's lower edge. How would such a treasured machine end up in a place like this? As we see here, at some point Goldie got hit hard in the right rear, and the crash damage was too severe to be worth fixing. I hope everyone involved was wearing their seat belts. The interior looks to have been pretty nice before junkyard shoppers began prying off trim parts. Someone bought the stick-on hood scoop and the "Leaper" hood ornament. You can't have too many JAGUAR emblems! This is the newest junked Jaguar I've documented; the oldest was a 1969 XJ6. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Sometimes the best part of giving is the thank-you you'll receive.

Jaguar and Land Rover now offer Apple CarPlay and Android Auto

The 2019 Jaguar I-Pace will come standard with Apple CarPlay and Android Auto functionality, and the connectivity feature comes as a roughly $300 option on select and appropriately equipped 2019 Jaguar and Land Rover models, the joint automaker said. It comes via Jaguar Land Rover's Smartphone Pack, which is available on all 2019 and future models, but with conditions. The car in question must have the 10-inch InControl Touch Pro touchscreen or split-touchscreen Touch Pro Duo infotainment systems, plus navigation, InControl Apps and Wi-Fi connectivity. Those are included on some upper trim levels and available as separate options on others. So basically, depending on trim level, you could be looking at a simple $300 add or a long-line of other extra charges just to get Apple CarPlay and Android Auto. There are other new features coming for the InControl Touch Pro system as well, including voice command for navigation, major graphic refreshes for certain screens, new shortcut buttons on the home screen for key navigation, media and phone functions, and changes to the user experience in the media screen. Jaguar and Land Rover first introduced the InControl Touch Pro for 2016, enabling users to learn whether they have enough fuel or battery range to get to a searched-for destination and share their destination, current location and ETA with others via email or text message when using the on-board nav system. The Touch Pro Duo first debuted on the 2018 Range Rover Velar and will be standard on the 2019 I-Pace electric crossover, plus the Range Rover and Range Rover Sport. It features interlinked dual upper and lower touchscreens. In terms of the trim level availability mentioned earlier, a JLR spokesperson tells us that Smartphone Pack is available on all 2019 Jaguar F-Pace trim levels. It is available separately starting with the F-Pace Prestige trim level, but on the base F-Pace and Premium versions, you have to also get the optional Connect Pro Pack, Navigation Pro Pack, and traffic sign recognition and adaptive speed-limiter pack. Yes, it is a bit complicated. JLR recently released a touchscreen infotainment system designed to blend in with vintage models that retails for $1,796 before taxes. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.