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Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

All of the Bond cars of 'No Time To Die' (caution for spoilers)

Note: The following overview of the cars in No Time To Die contains spoilers. Read at your own risk, or come back after seeing the film to make sure you caught everything.   No Time To Die picks up right around where Spectre leaves us. James Bond (Daniel Craig) and Madeleine Swann (Lea Seydoux) are driving along in Bond’s restored and iconic DB5 in Matera, Italy. Things donÂ’t stay all that cheery for long in picturesque Matera, though. As is tradition in Bond films, the first car chase hits us with an explosion of action in what's a super-long opening scene. Fourth-gen Maserati Quattroporte: The baddies in the beginning are driving a Maserati and chasing after Bond in the DB5. Specifically, theyÂ’re in a fourth-gen Quattroporte, which feels right for a chase scene in Italy. Its squared-off looks are mean enough, and its Italian growl is a good background soundtrack to the DB5Â’s inline-six. In addition to the Quattroporte, the chase scene in Matera is home to a couple of the best stunts of the entire movie, including the arch jump done with a Triumph motorcycle seen in trailers — Matera is extremely hilly. Eventually, Bond and Swann find themselves in the DB5 again together, which is where the famous gatling gun scene from the trailer commences, but not before the bulletproof windows and body of the DB5 are thoroughly tested. RIP to the first-gen Range Rover Classics and Jaguar XFs that joined the Maserati in pursuit of Bond (here's a list of other Bond cars over the years). As the DB5 escape scene concludes, we catch a glimpse of what appears to be a Ferrari from the 1970s. However, the view was far enough away that weÂ’ll need a second look to be sure of the exact model. Land Rover Series III: Next time we see Bond, heÂ’s fishing in Jamaica and driving around a blue Land Rover Series III. ItÂ’s yet another of the many Land Rover products featured throughout the film, and unlike most of BondÂ’s Aston Martins, this one doesnÂ’t seem to have any unique features. The other intriguing vehicle out of Jamaica? An old Chevrolet Bel-Air expertly and effectively piloted by Bond newcomer, Ana de Armas. Next up, we get a few shots of the new and still-not-for-sale Aston Martin Valhalla mid-engine supercar (also seen in trailers). BondÂ’s old boss M is in the scene which appears to have been shot in some secret wind tunnel of sorts. Much to our dismay, nobody ends up driving the Valhalla in the film. Could it be a teaser for what the next 007Â’s car is?

Jaguar demanding customer data from reluctant dealers

Nearly every major business is collecting consumer data these days, and keeping that data secure has come to the forefront of many customer's minds. Jaguar Land Rover North America's decision to begin requesting more customer info from its dealer network appears unfortunately timed, however. If it had come a few years ago, it might have been ignored, but in today's climate of heightened awareness, a few dealers are pushing back. To put the showrooms in an even tougher position, JLR NA is threatening to deny quarterly incentives if they do not turn over the customer data, according to Automotive News.
JLR NA instated the nationwide plan, which it calls Single View CRM, on February 7, but according to Stuart Schorr, Jaguar Land Rover North America Vice President of Communications, the automaker has been negotiating with its dealers to institute the new program for over a year. Schorr tells Autoblog that no financial information is being shared, noting that such data is limited to customer details, including things like what vehicles they own and whether they have any pending service. The initiative is meant to "improve customers' and owners' engagement with the brand," he said. Also, the company is not accessing dealer data itself; instead showrooms are asked to enter the info into JLR's database.