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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.

Is this a Jaguar or Land Rover of the future? Yes, the near future

Jaguar Land Rover has unveiled a concept vehicle, Project Vector, that the company heralds as preview of future urban transport. The Project Vector is an EV, naturally, and is built on a skateboard chassis with all mechanicals under the floor. That provides for maximum space efficiency in the city-sized vehicle—JLR says it's roughly four meters long, which would make it about half a foot longer than today's Mini Cooper hardtop. It also allows for reconfigurability. The interior is accessed via dual center-opening sliding doors on one side. Four individual seats appear to be mounted on tracks and are shown facing in the same direction, but JLR also says the vehicle can be adapted for delivery use (presumably with most of the seats removed). Project Vector is described as "autonomous-ready," but for now it has a steering wheel and pedals. It's also claimed to be optimized for ride-sharing or private use. The vehicle was developed at the UK's National Automotive Innovation Centre, with the intention to make it a part of the "urban mobility solutions" in the "ecosystem of a smart city," according to JLR. The first such smart city will be Coventry, where an "urban mobility service" will be launched in 2021. Related Video:     Featured Gallery Jaguar Land Rover Project Vector Design/Style Green Jaguar Land Rover Transportation Alternatives Future Vehicles

Jaguar-Land Rover builds millionth vehicle at Halewood

Jaguar-Land Rover is not what you'd call a volume automaker by any stretch of the imagination. But in the dozen years since it started manufacturing at its Halewood plant near Liverpool, England, the automaker has already built its millionth vehicle.
The landmark vehicle is a Range Rover Evoque, done up in white with red roof and mirrors, black wheels and a red and black interior. The crossover is set to be donated to Cancer Research UK, which will auction it off next year to help fund its projects in the north-west of the country.
Halewood started manufacturing the Jaguar X-Type in 2001, then went on to assemble the Land Rover LR2 / Freelander 2 before taking on production of the Evoque a year and a half ago. The facility reached the 300,000-unit milestone just last year as production moved to a 24-hour cycle for the first time in either marque's history.