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Jaguar likely moving HQ to Britain's most iconic racetrack

Jaguar Land Rover looks increasingly likely to make Britain's iconic Silverstone race track the automaker's new headquarters. There isn't a final deal in place yet, but the British Racing Drivers' Club, which owns the circuit, plans to have the membership vote on whether the negotiations should move forward, according to Autosport. BRDC leaders already presented the plan to members, and they were open to the idea. "The response was favorable so we will now set up an EGM for the members to vote and give the board a mandate to proceed with the deal and continue with the negotiations with JLR," BRDC president Derek Warwick told Autosport. There's no guarantee yet that JLR actually completes the deal. "There's still a lot of work to do to get the deal to where both sides are happy and more importantly what's right for the BRDC and its members." Warwick said. Rumors in early December suggested JLR was among the firms submitting bids to purchase the track, and the automaker allegedly offered 22.7 million pounds ($34.1 million at the time) for it. The company would also reportedly invest nearly $80 million to renovate the site, including adding a museum, experience center, hotel, and offices. The track would still be open for motorsport, too. Silverstone has hosted the Formula One British Grand Prix many times over the decades, and organizers signed a 17-year deal in 2009 to keep things that way well into the future. Series like the FIA World Endurance Championship, MotoGP, and British Touring Car Championship also compete there. Related Video:

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.

Jaguar Heritage to auction off part of its classic-car collection

A few years back it was reported that Jaguar Land Rover had purchased the James Hull classic car collection in its entirety. The collection is beyond significant, as it was at the time of sale the biggest single collection of British cars in the world and the largest private car collection in the UK. Consisting of 543 cars, it ranged from the mundane to the obscure, including some extremely rare prototypes. There were 130 Jaguars, for example, from the C-type to the D-type to the XKSS. When the cars were put up for sale in 2014, the asking price was a not-insubstantial $170 million. JLR didn't reveal how much it spent to buy the cars, but now it seems the carmaker is about to recoup some of those costs. At least 50 cars from the collection will be sold by auction house Brightwells, as part of the Affordable Classics at Bicester sale on March 21; some reports have said JLR would be eventually offloading as many as 100 cars. Looking at the listing, there are some definite gems in there. Not all cars are British, as there are Citroens, Mercedes-Benzes, a Fiat and a Goggomobil. Jaguars and Land Rovers are notably absent from Brightwells' listing, which we take as a clue that the sale will consist of cars not crucial to JLR's wellbeing and heritage. That said, for a lover of British cars there's a possibility to grab something truly interesting: For example, the Reliant Scimitar Ferguson 4x4 Prototype must be worth preserving. A 4WD pioneer also known for Massey-Ferguson tractors, Ferguson fitted its system in Jensens as well as a prototype 4WD Mustang in the 1960s. The fiberglass-bodied Reliant sports car is an interesting sidenote in Ferguson's history. Then there's a Vauxhall Chevette 2300 HS, which is a veritable rally-bred RWD hot hatch in comparison to the American market Chevrolet Chevette, its distant relative. On the hot hatch front, there are also Metro and Maestro turbos, which offer plenty of poke in a light, boxy body. Or if you view the internet's popular "Worst Cars Ever Made" lists as shopping lists, you could build your own collection of slightly dodgy cars: Start with the unfortunate-looking Vanden Plas Allegro, continue to the malaise-tastic Morris Ital Camper, and finish it off with a late-model Lada Riva wagon from the mid-1990s. Some cars are in tip-top shape, and some are best seen as restoration projects, like the very pretty Borgward Isabella coupe from 1960.