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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.

Jaguar I-Pace gets discreet nip-and-tuck in global markets

Jaguar has given the I-Pace, its first series-produced electric model, a round of minor visual and packaging updates. The crossover gets a nip-and-tucked front end, additional paint options, and in some markets a restructured trim level hierarchy, among other small changes. The biggest design update is positioned front and center — literally. The new-look I-Pace receives a smooth insert that replaces the grille-like trim fitted to the outgoing model. It's finished in Atlas Gray, and this color also appears on the trim pieces positioned on either end of the lower part of the front bumper. Jaguar also fitted a black and silver emblem to the front end, and it changed the color of some exterior trim pieces from black to gray. The company explains that it made those changes to simplify the I-Pace's design while reducing visual mass. Most of the remaining design changes are subtle: Every I-Pace trim level now comes standard with diamond-turned wheels, and some variants get a Black Pack that adds gloss black exterior trim. Finally, Eiger Gray and Carpathian Gray join the palette of available colors. We're still waiting for the hot-rodded I-Pace that Jaguar alluded to in 2019. In the meantime, the global range includes three trim levels called R-Dynamic S, R-Dynamic SE, and R-Dynamic HSE, respectively. Buyers in England can also select a range-topping model called 400 Sport. It doesn't sound like Jaguar made major drivetrain changes. Power comes from a pair of electric motors (one per axle) that zap the four wheels with 394 horsepower and 512 pound-feet of torque. Jaguar quotes a 4.5-second sprint from zero to 60 mph, and the 90-kilowatt-hour lithium-ion battery pack holds enough electricity to deliver up to 246 miles of range with 20-inch wheels, or 217 miles with 22-inch wheels. Jaguar hasn't announced the aforementioned changes for the American market yet; as of writing, they apply exclusively to models sold on the European market. We've reached out to the company for additional details, and we'll update this story if we learn more. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jaguar might not sell many XF Sportbrakes in the U.S., but here's why it's trying

One of the wonderful surprises of this year was when we learned that the U.S. would receive the XF Sportbrake wagon, and — less of a surprise — it's as much a looker as the previous generation. And while we're never one to look a gift car in the grille, it did seem strange that Jaguar would attempt to bring a wagon to the U.S., especially when it already had a similarly sized F-Pace crossover. So we spoke with Jaguar CEO Joe Eberhardt, Jaguar Design Director Ian Callum, and Jaguar's head of product planning in the U.S. to find out what prompted the company to bring the XF Sportbrake here. There were a few key reasons. One was simply that the folks at Jaguar really like the car, and they know that journalists like wagons. That doesn't exactly pay the bills for a car, but the enthusiasm is good. According to these people at Jaguar, though, they do believe there is a market for the car, and they expect to sell most of them on the coasts. Obviously, even if Jaguar sees a wagon market, it's still going to be much smaller than for crossover SUVs. But no matter how small that market is, Jaguar has an extra advantage for bringing the wagon here. The company knew it was going to make a wagon regardless of whether it would come to America, since the wagon market in Europe is so strong. In fact, Jaguar expects that half of XF sales in Europe will be Sportbrakes. So the majority of the engineering costs will be covered from those sales. The folks at Jaguar also told us that the car wasn't difficult to homologate for the U.S., so the cost of bringing it here was minimal. So in the worst case scenario that has the XF Sportbrake hardly selling in America, Jaguar isn't going to be seriously hurt. And if it's a success, then it's even more of a success. So the XF Sportbrake isn't purely a passion product, but that's OK. It means consumers have one more option to the multitude of crossovers in the U.S., and enthusiasts have the chance to own a super cool wagon. Also, although the XF Sportbrake is currently only available in America in top-level 380-horsepower S trim, Jaguar said lower trim levels and lower-output engines, all at lower prices, will be available here in the coming year or so. Meaning there will be even more ways to satisfy your wagon itch. Related Video: