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Jaguar I-Pace electric crossover sales are taking off

Earlier this month, it was reported that Jaguar Land Rover is due for a turnaround plan to cut costs and improve cash flow. The owner of JLR, Tata Motors, is scheduling a 18-month plan called "Project Change," worth $3.2 billion. But it seems a step in the right direction has already been taken with the introduction of Jaguar's electric I-Pace: InsideEVs is reporting that Jaguar sold 1,200 I-Pace models in October, which represents strong growth for the brand and the new model. 8.7 percent of Jaguar's total October sales consisted of the I-Pace, meaning that the total October sales volume of 13,764 units was largely boosted by the new electric crossover. Total sales were up 11.6 percent, and it was overall the best October ever for JLR. Some 2,500 I-Pace crossovers have been sold so far. The October sales figure is a noticeable rise from September's 710 cars, which itself is a strong pickup from just 140 cars sold in August. These are signs of both production and sales perking up, and it wouldn't be surprising to see monthly I-Pace sales hit 2,000 units sometime soon. It helps that the I-Pace is priced competitively with Tesla Models S and X, starting at $70,495 including destination charge, with Jaguar-like performance and looks. Last month, we reported of Jaguar possibly going electric-only in the next decade, with a portfolio consisting of an electric XJ, a full-sized EV crossover and an electric sports car in addition to the I-Pace. Brexit uncertainty and China-market woes mean Jaguar is on unstable ground, but as its owner is about to run an even tighter ship, and it first full-electric model is visibly picking up the pace, the coming decade could turn out to be a positive for Jaguar. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: InsideEVs Green Jaguar Crossover Electric Luxury jaguar i-pace i-pace

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.

Jaguar builds F-Type to support Tour de France team [w/video]

The Tour de France is typically a two-wheeled affair, dominated by cyclists yearning to capture the prestigious yellow jersey. While the 2014 event winds its way through Europe, Stage 20 will see an altogether different conveyance wind along the route between Bergerac and Périgueux - the Jaguar F-Type Coupe.
As part of its partnership with the British cyclists of Team Sky, Jag has enlisted its new Special Operations division to build a one-off F-Type Coupe, based on the 550-horsepower, supercharged R model.
SpecOps has removed the rear glass and come up with a creative solution to mount a pair of Team Sky's racing cycles in the back. Aside from that upgrade, the cabin boasts new upholstery in the colors of Team Sky's traditional livery. A separate power supply has been established below the bikes in what's left of the trunk, which provides juice for a set of radios and microphones, so that the team's director can communicate with the riders.