1969 Jaguar Xke on 2040-cars

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Jaguar Land Rover to cut workforce by 2,000 in push toward electric future

Jaguar Land Rover said on Wednesday it would cut 2,000 jobs from its global salaried workforce, just days after announcing its luxury Jaguar brand will be entirely electric by 2025 and e-models of its entire lineup will be launched by 2030. "The full review of the Jaguar Land Rover organization is already under way," the company said in an emailed statement. "We anticipate a net reduction of around 2,000 people from our global salaried workforce in the next financial year," it said. However, it added that the organizational review did not impact hourly paid, manufacturing employees. JLR, owned by India's Tata Motors, said earlier that its Land Rover brand will launch six fully electric models over the next five years, with the first in 2024. Known for its iconic, high-performance E-Type model in the 1960s and 1970s, Jaguar faces the same challenges as many other carmakers as it transitions to electric vehicles while trying to retain the feeling and power of a luxury combustion engine model. Last month, Tata Motors said it was concerned by semiconductor shortages and Brexit-related supply disruptions as its luxury car sales recover, although the Indian automaker added these had not yet hit production. Tata Motors posted three straight quarters of losses as the COVID-19 crisis dented sales, exacerbating uncertainties over Britain's exit from the European Union, weak demand and rising costs, but had bounced back to clock a profit in its third quarter to the end of December. The 2,000 reduction in JLR's non-factory jobs was reported earlier on Wednesday by Sky News.

An assortment of emblematic supercars is headed to auction

Auction house RM Sotheby's is giving enthusiasts the chance to bid on the supercars that they had posters of when they were kids. It's organizing a live sale in Miami, Florida, in December 2022 that's limited to 60 high-end models built between the 1970s and the 2010s. The oldest car in the catalog is a V12-powered 1974 Jaguar E-Type, though keep in mind that only 20 of the 60 available slots have been filled so far. At the other end of the spectrum, the newest model is currently a 2014 BMW M5. If your automotive tastes are firmly anchored in the 1980s, there's a wide selection of cars to choose from such as a 1989 Lamborghini Countach 25th Anniversary Edition and a 1987 Porsche 911 Turbo with a flat-nose conversion. If your heart belongs in the 1990s, RM's sale includes a 1990 Lamborghini LM 002, a 1995 Ferrari 512 M, and a 1996 Porsche 911 Turbo. Bentley models and a 2008 Mercedes-Benz SLR are among the newer classics. Carmakers weren't alone in pursuing speed, style, and extravagance in the 1980s; tuners fought hard for a piece of the pie as well, and RM's sale reflects that. Collectors will get the rare opportunity to bid on a number of pre-merger AMG models like a 1982 Mercedes-Benz 500SL 5.0 (R107), a 1987 Mercedes-Benz 560SEC 6.0 (C126) with a wide-body kit, and a 1989 Mercedes-Benz 560SEL 6.0 (W126). BMW-based Alpina models are well represented, too: RM accepted a pair of 6 Series-based 1987 B7 coupes and a 3 Series-based B6 2.8.  There are several slots left so it's not too late to submit your car. If you're a buyer, plan on being in Miami on December 9 and 10, 2022. We suggest clearing up space in your garage first: every car is offered with no reserve, so the selling price will be the highest bid. Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery RM Sotheby's supercar sale in Miami View 44 Photos Ferrari Jaguar Mercedes-Benz Porsche Auctions Luxury Supercars Classics

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.