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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 XJR meets 1988 XJR9-LM at Silverstone

The current Jaguar XJR is not the first Jaguar XJR. Not by a long shot. In fact there's a long and distinguished history of Jaguar production and racing models that have worn those letters over the years. So to highlight its lineage, Jaguar brought the 2016 model together with its nearly 30-year-old racing namesake to Silverstone. And it brought Andy Wallace along for the ride. Wallace won at Le Mans in 1988 driving the XJR9-LM. Designed for the race track and adorned with iconic Silk Cut livery, the XJR9 looks entirely different from the XJR luxury sedan you can buy today. And with a 7.0-liter V12 mounted amidships instead of the modern sedan's 5.0-liter supercharged V8 placed up front, they're mechanically different beasts as well. But it's not the difference in design, powertrain, or performance that Jaguar is highlighting in this video encounter. Instead, Wallace is impressed by the advancement of the lighting technology from the Le Mans racer he drove in the late 1980s to the sedan sold today. To hear him talk about how they used to use the headlights in the nighttime hours of the famously grueling endurance race is harrowing enough all on its own. Hear his story in the video above. NEW JAGUAR XJR MEETS XJR9-LM AT SILVERSTONE WITH LE MANS WINNER ANDY WALLACE AT THE WHEEL - Andy Wallace drives new Jaguar XJR and Le Mans-winning XJ-R9 LM at Silverstone - XJR9-LM – one of one million XJs now built – back on track at night for the first time since it won the 24 Hours of Le Mans in 1988 - Track session presents benefits of new Jaguar XJ LED headlights in day and night driving conditions - Wallace discusses new XJR headlight technology, which offers drivers more confidence, safety and performance at night - New short film captures all the action https://youtu.be/IgMxSkJb058 (Whitley, Coventry - 16 November 2015): Legendary racing driver and 24 Hours of Le Mans winner Andy Wallace relived his 1988 victory by taking to the Silverstone circuit to drive the Jaguar XJR9-LM during day and night back-to-back with the new 550PS, 5.0-litre Supercharged V8 Jaguar XJR. Wallace discusses his experiences in the XJR9-LM and the new XJR in an exciting new film available to view and share at https://youtu.be/IgMxSkJb058 Driving at night on the Silverstone circuit gave Wallace the opportunity to test the new LED headlights on the new XJ, which are a first for Jaguar. "Driving at Le Mans back in 1988, it was so hard to see at night," said Wallace.

Jaguar's Callum: 'Huge' opportunities with electric vehicles

Eventually, some brave innovator, with an imagination light years ahead of the rest of us mere mortals, will envision an automotive future that the rest of us can't conceive. This person will step up and tell us how electric vehicles have the potential to change our lives for the better. They'll have the guts to tell us that if we could only open our eyes, we'd see that there's a way to get from one place to another that doesn't pollute the air we breathe. They'll explain that it won't just be globally responsible, it'll be magnificent. Yes, the electric car needs a champion, a figurehead, someone so inspirational that comic book superheroes are modeled after him. Finally, that champion has revealed himself. Saying out loud what the enlightened few of us know but dare not utter for fear of ridicule, our hero has spoken. "Electrification will kickstart the biggest change in automotive design in history," Ian Callum, design director at Jaguar told Autocar. That Jaguar sees the potential for electric vehicles is welcome progress. Sarcasm aside, that Jaguar sees the potential for electric vehicles is welcome progress. Even more appealing is that Callum approaches the potential of EVs from a design angle, where the slate is essentially blank, he feels, and so much is possible. "The opportunities an electric powertrain offers are huge," Callum says, "especially in terms of the space for occupants. By removing so much of the mechanical hardware and placing the batteries in the floor plan you open up all sorts of possibilities with packaging." To peer into Callum's mind when it comes to EV design would be extraordinary to behold. In many ways, his vision truly is something most of us cannot grasp completely, having spent a long career designing some of the most desirable cars of our time for some of the most prestigious automotive brands on the planet. So when he talks about the freedom EVs present from a design standpoint, it's not difficult to get excited. A Jaguar EV isn't as far-fetched as it might seem at first. Plus, a Jaguar EV isn't as far-fetched as it might seem at first, as Callum explains. "I'm clear in my mind that an electric Jaguar would be suitable for the brand," he says. "You have to move with the times and design for the opportunities. Look at the C-X75 concept – that was a car that was designed for an alternative powertrain, and nobody had any complaints about how that looked.