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Jaguar Land Rover to cut $6.8 billion in costs

Jaguar Land Rover reduce costs by $6.8 billion and will push annual production volume to 1 million vehicles under a secret project called Leap 4.5, according to Reuters. The British automaker wants to achieve these ambitious goals by the end of the decade to compensate for the changing market in China and to counteract the price of meeting stricter emissions standards around the world. Leap 4.5 won't mean firing workers or cutting the automaker's $4.5 billion annual research budget. JLR will instead find savings by underpinning more models with modular platforms and by adjusting its supply chain. Future factories like the one in Brazil and the proposed plant in Slovakia also won't be affected by the new strategy. Globally, JLR continues to grow, and deliveries are up two percent through October 2015 to 390,965 vehicles. Business just last month was up 24 percent year-over-year to 41,553 units. However, the auto market's downturn in China has taken a bite out the automaker's success because volume dropped there 32 percent in the third quarter, Reuters reported. A global volume of 1 million vehicles will mean more than doubling 2014's 462,678 deliveries, but JLR has made significant investments to boost production recently. In addition to the future factories, it opened its first plant in China last year and an engine assembly site in the UK. The company also signed a deal with Magna Steyr in 2015 to build an upcoming model in Austria. Related Video:

Jaguar F-Type Project 7 arrives Stateside for $135k*

There are a great many things we love about the Jaguar F-Type, but one of them is that, whatever price point you're looking at, there's an F-Type for you. (Well, not any price point... this is a Jag we're talking about, but pricing varies greatly.) Got $65k to spend? That'll get you into a base F-Type V6 coupe, and you'll likely be happy for it. Eighty grand will get you into an F-Type V6 S, $90k into a V8 S roadster, and a cool hundred grand will get you the top-of-the-line F-Type R coupe. But what if you want to spend more than that? What if you've got more like $165,000 in your pocket and it's burning a hole when it should be burning rubber?
Well we've got good news for you, friend, because that's exactly how much the exclusive F-Type Project 7 will set you back. Making its US debut during Monterey car week, Jaguar has announced that the most exclusive version of its two-seat sports car - revealed in production spec just recently at the Goodwood Festival of Speed - will cost $165k in the US (plus the standard $925 delivery charge). That's roughly the price of an F-Type R and a base F-Type V6.
For all that scratch, you get an open-top roadster with 575 horsepower on tap - more than any production road car Jaguar has ever made before, and that includes the XJ220 and ultra-rare XJR-15 supercars. The most potent version yet of Jaguar's ubiquitous and long-serving 5.0-liter supercharged V8 is enough to send Project 7 to 60 in 3.8 seconds and on to an electronically limited top speed of 186 miles per hour.

Jaguar Land Rover to cut thousands of UK jobs

LONDON — Britain's biggest carmaker Jaguar Land Rover (JLR) is set to cut thousands of jobs as the company faces lower demand in China and a slump in sales of diesel cars in Europe. The central English firm builds a higher proportion of its cars in Britain than any other major or medium-sized carmaker and has also spent millions of pounds preparing for Brexit, in case there are tariffs or customs checks. Britain's business minister Greg Clark said on Thursday it is clear why a no-deal Brexit would add to the problems with further costs and disruption. JLR lost 354 million pounds ($450 million) between April and September 2018 and had already cut around 1,000 roles in Britain, shut its Solihull plant for two weeks and announced a three-day week at its Castle Bromwich site. Its Chief Executive Ralf Speth warned in September that the wrong Brexit deal could cost tens of thousands of car jobs and posed a threat to production at the automaker. The Tata Motors-owned company, which employs around 40,000 people in Britain and has boosted its workforce at new plants in China and Slovakia in recent years, unveiled plans to cut costs and improve cash flows by 2.5 billion pounds last year including "reducing employment costs and employment levels." Those cuts will be "substantial" and run into the thousands, the source told Reuters. "The announcement on job losses will be substantial, affecting managerial, research, sales, design," said the source, who spoke on condition of anonymity, not affecting production-line staff "at this stage." The company declined to comment when contacted by Reuters on Thursday. Ford also said on Thursday it will cut thousands of jobs in Europe, exit unprofitable markets and discontinue loss-making vehicle lines as part of a turnaround effort aimed at improving profit margins in the region. Brexit warnings JLR, which became Britain's biggest carmaker in 2016, had been on course to build around 1 million vehicles by the turn of the decade, reported on Thursday a 4.6 percent drop in full-year sales to just under 600,000 vehicles. Demand in China, which had once been one of its strongest countries but has since been hit by a slowdown, fell by 21.6 percent, the biggest drop of any of its markets. "The economic slowdown in China along with ongoing trade tensions is continuing to influence consumer confidence," said Jaguar Land Rover Chief Commercial Officer Felix Brautigam.