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Road & Track names its 2013 Performance Car of the Year

Road & Track recently staged its first annual Performance Car of the Year test, pitting 13 new and updated performance cars against each other on track, then graduating the top six to a road test before picking a winner. Additionally, the magazine staff picked the best automobiles of the year in eight categories.
But first, let's cover the PCotY segment. Here's the list of cars brought to the comparison test: Audi R8 V10 Plus; BMW 435i; BMW M6 Competition Package; Chevrolet Corvette Stingray Z51; Ferrari F12 Berlinetta; Ford Fiesta ST; Jaguar F-Type V8 S; Jaguar XFR-S; Mercedes-Benz E63 AMG S-Model Wagon; Mercedes-Benz SLS AMG Black Series; Mini John Cooper Works GP; Nissan GT-R Track Edition; and Porsche Cayman S.
To find out the results of the comparison, head over to Road & Track's website or check the press release below, where you'll also find the magazine's top-rated vehicles in eight categories. Want more? Head over to the 2013 PCotY hub. But before you do that, take a stab at guessing the winner of PCotY (we'll give you one hint: it isn't a Porsche).

2014 Jaguar XJR unleashed just ahead of New York show [w/video]

Just a week after teasing us with the first image of the car, and mere hours before revealing it to the public at the New York Auto Show, Jaguar has pulled the wraps off of its 2014 XJR super sedan.
The British automaker has confirmed that the XJR will be kicking out a full 550-horsepower and 502 pound-feet of torque from its supercharged 5.0-liter V8, affording the sedan a 0-60 mile per hour sprint of 4.4 seconds and a top speed of 174 miles per hour. A ZF eight-speed automatic transmission will still allow for respectable fuel economy, as Jag estimates ratings of 15 miles per gallon city and 23 highway.
Newly tuned dampers and stiffer spring rates, along with an electronically controlled differential should ensure that the massive power of the engine isn't wasted in transition to the road. Jaguar has also tweaked steering software and hydraulics, with the goal of increased road feel, response and overall feedback. 20-inch signature wheels carry wide Pirelli rubber (265-section up front, 295 in back) to keep the XJR planted.

Jaguar Land Rover undergoes $3.2 billion turnaround plan as sales slump

MUMBAI — India's Tata Motors on Wednesday announced a turnaround plan for its luxury car unit Jaguar Land Rover, which has been hit hard by trade tensions between China and the U.S., low demand for diesel cars in Europe and worries over Brexit. Under "Project Charge," Tata Motors said it plans to cut costs and improve cash flows at Jaguar Land Rover (JLR) by 2.5 billion pounds ($3.2 billion) over 18 months. JLR also plans to launch several new vehicles, including the Jaguar I-Pace and the new Range Rover Defender over the next few years and will offer a hybrid or full-electric version of all its models by 2020. "Together with our ongoing product offensive and calibrated investment plans, these efforts will lay the foundations for long-term sustainable growth," JLR CEO Ralf Speth said after Tata Motors reported a quarterly loss. JLR has trimmed its pre-tax profit expectations for the current fiscal year ending March 31, 2019, and expects to break even, Speth said, versus an earlier target of profit growth. As part of the turnaround plan, JLR will first focus on cash-saving "quick wins" like reducing non-product investments and speeding up asset sales, Tata Motors said in an investor presentation. In the near term it will improve efficiency in areas including purchasing and material cost, manufacturing, logistics and people, and will focus on strategic and non-core asset sales. JLR has already reduced the number of production days at its UK plants in Castle Bromwich and Solihull. The company said in its presentation it has saved 300 million pounds since it initiated the turnaround plan six weeks ago and is working on 500 ideas for the future. Tata Motors reported a loss of 10.49 billion rupees ($141.9 million) for the July-September quarter, compared with a profit of 24.83 billion rupees in the year-ago period. That was worse than the estimate of a loss of 2.40 billion rupees, according to Refinitiv data. JLR reported a loss of 101 million pounds during the quarter and its margin on earnings before interest, tax, depreciation and amortization (EBITDA) fell 130 basis points to 9.9 percent. Retail sales of its Jaguar sedans and Land Rover sport utility vehicles (SUVs) fell 13.2 percent to about 130,000 units, hurt particularly by tariff changes in China and escalating trade tensions. Demand in China remained muted even after the country cut import tariffs for cars and car parts to 15 percent for most vehicles from 25 percent from July.