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Jaguar XE to be built in China

After a six-year absence, the Jaguar XE will return that most English of automotive companies to the compact premium segment, the brand's first whole-hearted launch into that market. For certain Western markets it begins production at the Land Rover plant in Solihull early next year, but it will also continue the brand's venture in to China having been chosen as the first Jaguar to be built there, according to a report in Automotive News. Jaguar-Land Rover owns a plant in Changshu, a joint venture with Chery Automobile, that started building the Range Rover Evoque this year and will add the Land Rover Discovery Sport. Previously, The Leaping Cat was selling cars built from kits at its factory in Pune, India. The brand figures to sell 20,000 cars in China next year, which would be less than a fifth of in-country sales for the JLR group, but the XE is the "spearhead vehicle" that "could make significant inroads" there, according to Jaguar. For comparison, Audi moved 120,450 A4s alone and BMW sold more than 100,000 3 Series models in China in 2013. Globally, Jaguar is predicted to sell 80,000 units this year. By 2017, after the release of the XE, new XF and coming crossover, plus factory expansions in China, Brazil and Saudi Arabia, it hopes to get that number up to 200,000 units; Forbes has a piece detailing why they think it's possible. The JLR group is shooting for a target of 850,000 units worldwide by 2020. Featured Gallery 2016 Jaguar XE: Paris 2014 View 12 Photos News Source: Automotive News Europe - sub. req. via Paul TanImage Credit: Copyright 2014 AOL Plants/Manufacturing Jaguar Land Rover Luxury Sedan jaguar xe jlr

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.

Strong JLR sales in China boost Tata Motors' quarterly profit

BENGALURU, India — Tata Motors Ltd on Friday posted a 67.2% surge in quarterly profit. Sales at its luxury car unit, Jaguar Land Rover (JLR), improved in key market China as the country led a recovery in the global automobile industry from the pandemic. The Indian carmaker had logged losses for three straight quarters as the COVID-19 pandemic dented business in several of its key markets even as it was already dealing with uncertainties around Brexit, weak demand and rising costs. The Brexit trade deal agreed upon in December has avoided the risk of tariffs on automotive parts and finished vehicles, Tata Motors said, adding that JLR remains encouraged by the Brexit trade deal. JLR sales in China jumped 20.2% on-quarter and were 19.1% higher from the year-ago period. Retail sales at the unit, which accounts for most of the company's revenue, were up 13.1% from a quarter ago, but still 9% lower than pre-pandemic levels. The company said it had saved 400 million pounds ($548.96 million) during the December quarter at JLR under Project Charge, taking the total savings to 2.2 billion pounds so far. Tata Motors has set a full-year target of saving 2.5 billion pounds. Consolidated net profit came in at 29.06 billion rupees ($398.52 million) for the third quarter, compared with a profit of 17.38 billion rupees a year earlier. It had reported a loss of 3.14 billion rupees in the previous quarter. The festive season in mid-November, during which Indians typically make big-ticket purchases, also helped overall sales. "Due to a strong festive season and a clear preference for personal mobility, the PV business posted its highest sales in last 33 quarters," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek said. Total revenue from operations rose 5.5% to 756.54 billion rupees.