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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.

Our love of SUVs is killing people in the streets

Americans are fond of supersized fast-food meals and colossal convenience-store fountain drinks, even though they're clearly bad for our health and U.S. adults keep getting fatter. We also like large vehicles, and our love affair with SUVs is killing people in the streets. According to a recent investigation by the Detroit Free Press/USA Today, the increase in SUV sales over the past several years coincides with a sharp rise in pedestrian deaths in the U.S. — up 46 percent since 2009, with nearly 6,000 people killed in 2016 alone. With SUV sales surpassing sedans in 2014 and pickups and SUVs currently accounting for 60 percent of new vehicle sales, it's no wonder Ford announced in April plans to cease U.S. sales of almost all passenger cars. And this followed Fiat Chrysler's move to virtually an all-truck, -SUV and -crossover lineup. While the Freep/USA Today investigation found that the simultaneous surge in SUV sales and pedestrian deaths comes down to vehicle size, it also points to a lack of action on the part of the National Highway Traffic Safety Administration (NHTSA), even though it knew of the dangers SUVs pose to pedestrians. Also blamed are automakers dragging their feet on implementing active safety features. Using federal accident data, the Insurance Institute for Highway Safety (IIHS) determined that there was an 81 percent increase in single-vehicle pedestrian fatalities involving SUVs between 2009 and 2016. Freep/USA Today's analysis of the same data by counting vehicles that struck and killed pedestrians instead of the number of people killed showed a 69 percent increase in SUV involvement. As far back as 2001, researchers at Rowan University forecasted a rise in pedestrian deaths as Americans began switching to SUVs. "In the United States, passenger vehicles are shifting from a fleet populated primarily by cars to a fleet dominated by light trucks and vans," the researchers wrote, with light trucks comprising SUVs.

Jaguar Land Rover says half its models will be hybrids or all-electric by 2020

Neither Jaguar nor Land Rover has ever been mistaken for big-time green-car brands, but their parent company is trying to change that. Jaguar Land Rover looks to have as many as half of its models be of the hybrid, plug-in hybrid, or battery-electric variety by 2020, CEO Ralf Speth said at the Los Angeles Auto Show last week. Speth made the announcement while showing off the I-Pace concept compact crossover. The green-car expansion would mark a natural extension of Jaguar Land Rover's decision last year to double the headcount in its advanced-engineering department. As for the five-seat I-Pace, that model will be Jaguar Land Rover's first production electric vehicle when it starts sales in 2018. The car will have a 90-kilowatt-hour lithium-ion battery pack that will deliver a single-charge range of about 220 miles. Boasting more than 400 horsepower, the car will also be able to go from 0 to 60 miles per hour in about four seconds. What's also notable is that Jaguar says the model has been designed to be an electric vehicle from the ground up, and hasn't been converted from the platform of an existing model. Of course, Jaguar late last year said it would enter a team in the FIA Formula E electric-vehicle open-wheel racing circuit, so the British badge has made recent noise about upping its green-car quotient. As for the I-Pace, the automaker hasn't revealed pricing on the model, but it's safe to say that it will be quite high. Check out a three-minute video of Speth's presentation here. Related Video: