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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.

Ford's J Mays feels vindicated by Fusion reception

It's hard to think back now, but the same man overseeing the design of the 2013 Ford Fusion also presided over a rather lackluster period in Ford design, highlighted by vehicles like the Five Hundred and Freestyle. With the redesigned Fusion receiving high praise, J Mays tells Automotive News that he feels vindicated from criticisms suggesting he's not a daring enough designer.
When Mays took over as lead of design in 1997, he admits to having quite an ego ("My head would barely fit through the door some days. I've long since gotten over myself") and the workload to match. With the Blue Oval's portfolio full of premium brands like Aston Martin, Jaguar, Land Rover and Volvo at that point, along with the bread-and-butter Ford, Lincoln and Mercury models, Mays certainly had quite the challenge.
It was in the mid-2000s that Mays took over just the premium brands, and took on the new title of Chief Creative Officer. At the time, Mays endured some criticism for looking backwards to retro styling, rather than setting a new standard for American car design - criticism that Mays says he is free from with the all-new Fusion.

Jaguar crossover won't be based on Evoque or have off-road chops

Jaguar's long-rumored crossover won't be built on the same platform as the Land Rover Range Rover Evoque, says the Australian site Car Advice. The future of the new CUV remains uncertain, but if Jaguar does dip its toes into the SUV/crossover pool, though, the new vehicle will likely be a car-based soft roader, lacking (or perhaps more appropriately, not needing) the off-road-engineered chops inherent in Land Rover's small CUV platform.
Jaguar product planner Steven De Ploey explained to Car Advice, "There's many groups around the world [platform sharing] - obviously Volkswagen Group is doing it all the time - but I think we have to be careful. He added, "Jaguar is something quite different... It's about capability, but very much on-road focused capability." That seems to gel with our suspicions that the XQ, as it's expected to be called, will share its platform with an upcoming small Jaguar sedan, the oft-rumored X-Type successor.
Still, we'd recommend taking any mention of a Jaguar crossover with a grain of salt. Based on many of the (quite compelling) statements made by De Ploey against a Jag crossover and previous statements made by Jag's design boss, Ian Callum, the case against a leaper-bearing crossover seems strong. If a high-rider were to arrive from Jaguar, though, the article insinuates that it'd be more in line with the BMW X6 or upcoming X4 - sort of a coupe-based crossover. Like we said, grain of salt. If a Jag crossover is going to arrive soon, the upcoming Frankfurt Motor Show is the most likely locale for its debut. We'll find out in a few weeks.