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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.

Freelander name making jump from old Land Rover model to new EV brand

The Jaguar Land Rover House of Brands is about to grow by one. JLR signed a Letter of Intent to license a new brand called Freelander to its Chinese joint-venture partner of 12 years, Chery. For those who missed it, Land Rover sold a compact four-wheel-drive model called the Freelander or LR2, depending on market and generation, from 1997 to 2015. The Freelander didn't get the best press, but that didn't stop it from being popular because, before the Evoque, it was the least expensive way to get into something bearing the green oval. The moniker's rebirth will also apply to "mainstream" products, this time pure-electric vehicles outside of JLR's or Chery's current lineups. What's more, the Freelander range won't be limited to China, although JLR wouldn't say how long it would be before international markets could expect Freelander arrival.  They new cars will be designed by teams from both automakers and sit on Chery's E0X battery-electric architecture. Car News China reports that the E0X can support an 800-volt architecture, Level 3 autonomous driving, and air suspension setups. The platform also plays nice with range-extended EVs, a powertrain type enjoying the same upswing in popularity over there as in other markets. Autocar writes that extended-range EV sales from January 2023 to September 2023 rose 157% over the same span in 2022. Chery's Luxeed R7, above, sits on E0X bones. The Luxeed R7 EV comes in single- and dual-motor variants from 288 horsepower to 489 hp, and offers a maximum range of 531 miles on the Chinese cycle. Previous to this new announcement, Chery said it would also share its M3X platform with the Chery Jaguar Land Rover collaboration, the vehicle structure said to have been developed with Magna International. The M3X is suited to internal combustion and PHEV powertrains. JLR's press release specifies that for now, Freelander will be "an advanced portfolio of electric vehicles," so it's possible future Freelanders will expand powertrain options once the electric lineup gains momentum, or the M3X might be applied to a different set of products.

Pivi Pro Jaguar Land Rover Infotainment Review | A massive improvement

Infotainment systems in Jaguar Land Rover products have irked us for a long while. They’re generally a good step — or several — behind other luxury automakers' infotainment systems in terms of features and looks. But the big problem has always been their functionality. Even right out of the gate, they exhibited an undue amount of lag and general bugginess. Pivi Pro is supposed to change all of that. ItÂ’s JLRÂ’s completely new-from-the-ground-up infotainment system that is quickly spreading across the companyÂ’s range of products. It features a new screen size and layout. Plus, the software itÂ’s running is vastly different from what we saw previously. Our Byron Hurd got a first taste of it with a number of JLR products in a short period of time and found it to be a big improvement. Now, weÂ’ve had a new Land Rover Discovery in the garage for a longer period to fully suss out the system. Will it hold up? Watch the video above for a quick tour, and keep reading for some more detailed thoughts. Before diving in too deep, you should know off the top that Pivi Pro is a massive improvement over JLR infotainment systems of old. There are still some issues, but the new systemÂ’s performance is exponentially better than what itÂ’s replacing. This is partly thanks to it now running off its own backup battery. This allows the whole system to load immediately upon startup, ensuring that you arenÂ’t sitting and waiting for items to populate after you press the start button.  The new 11.4-inch screen this software plays on is splendid to both look at and touch. ItÂ’s a super-high-resolution panel, and it takes to our inputs quickly and without protest. The new UI layout makes things easier and prettier, too. All of your important items are tucked into a panel on the left, making them super easy to find and select. Plus, a sticky “home” button means you can always find your way out of menus when youÂ’re done diving around. We dig the three-panel home screen and its minimalist style, but for those who might favor maximum functionality over a pretty home screen, you can replace this with rows of app icons. For those wanting to use their phones, there is indeed an in-car WiFi data plan available to buy. Plus, JLR newly allows you to connect two devices via Bluetooth instead of just one. Both Apple CarPlay and Android Auto are nicely integrated with this new system.