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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.

2016 Jaguar XF Review

We last drove the new Jaguar XF in Spain last September, sampling it in 380-horsepower S spec and in 2.0-liter turbodiesel forms. We found both versions to provide a supple ride, despite some body roll, and loved the supercharged model's ample thrust from any engine speed. The ZF-provided eight-speed automatic was also applauded for its competence, making the sport paddles an unnecessary formality. If anything, our last drive only left us pining for a better infotainment system, as Jaguar Land Rover's painfully outdated one has been a target of our ire for a while. A limited amount of time behind the wheel, and a desire to see how much the slightly less powerful 2016 Jaguar XF 35t R-Sport gives away to its S-badged stablemate, leads us to our tester. In British Racing Green, the new XF is both more handsome than the slightly manic-looking old XF, yet also slightly more anonymous. This is a lithe shape, with crisp lines and few gimmicks, save the fender vents, which are about as tasteful as that element comes. The car's charms are especially evident from up front. Despite a distracting cut line, the hood is tastefully built up in two steps: a sharp rise from the headlight/fender area, and in the middle a tasteful power bulge. The overall effect is one of thoughtful, purposeful design – after all, this is Ian Callum's work – rather than taking a corporate-mandated design language and scaling it up or down to suit the hardpoints. Spend some time around FCA's UConnect system and you'll see where Jaguar needs to improve. Inside, this XF is a mixed bag. Let's start with the positives. Despite being shod in a rather boring black hide, the front seats are wonderfully comfortable and supportive without aggressive bolstering. The cabin would really wake up with a more interesting leather, like the brown that Jaguar calls "Brogue," covering the seats and door panels. Whatever you think of the rotary shift selector, the knurling on its diameter and the solidity of its action conveys the sense of craftsmanship you'd expect from a British luxury car. Some other controls, such as the cheap-looking and -feeling control stalks sprouting form the otherwise wonderful steering wheel, do not. And that takes us to the infotainment system. This XF does away with Jaguar's old, much-maligned user interface, which was blocky and balky in equal measures.

Jaguar XJ220 leaps into Jay Leno's Garage

Having sadly canceled the C-X75 project and sat out today's hybrid hypercar race, it would be all too easy to forget about Jaguar as a supercar manufacturer altogether. But back in the early '90s, the British automaker didn't just play in the supercar game – it dominated it. The XJ220 was, for a time, the fastest car in the world. Jay Leno pays tribute in this latest video. Originally envisioned with a V12 engine and all-wheel drive, the XJ220 ultimately surfaced with a 3.5-liter twin-turbo V6 driving the rear wheels alone. None of that kept it from eclipsing the top speed achieved by every supercar that came before with a terminal velocity that didn't quite reach the 220 miles per hour initially promised, but came pretty darn close. The disappointment in the change of specification lead some to dismiss the XJ220 as a failure, but it was still the fastest thing on the road until another British supercar (in the form of the McLaren F1) took its place at the pinnacle of automotive bragging rights. Two decades later, Jaguar quite nearly drove down the same road when its initial plans for the C-X75 changed from an experimental turbine powertrain to a multi-charged inline-four. Only this time the Leaping Cat marque didn't put it into production at all, save for a few prototypes and movie props – which is a bit of a shame, and then some. Watching Jay speed down memory lane in the supercar that almost never was, we're glad that Jaguar still built the XJ220, and saddened that it never followed up with another groundbreaking supercar today. Related Video: