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Strong JLR sales in China boost Tata Motors' quarterly profit

BENGALURU, India — Tata Motors Ltd on Friday posted a 67.2% surge in quarterly profit. Sales at its luxury car unit, Jaguar Land Rover (JLR), improved in key market China as the country led a recovery in the global automobile industry from the pandemic. The Indian carmaker had logged losses for three straight quarters as the COVID-19 pandemic dented business in several of its key markets even as it was already dealing with uncertainties around Brexit, weak demand and rising costs. The Brexit trade deal agreed upon in December has avoided the risk of tariffs on automotive parts and finished vehicles, Tata Motors said, adding that JLR remains encouraged by the Brexit trade deal. JLR sales in China jumped 20.2% on-quarter and were 19.1% higher from the year-ago period. Retail sales at the unit, which accounts for most of the company's revenue, were up 13.1% from a quarter ago, but still 9% lower than pre-pandemic levels. The company said it had saved 400 million pounds ($548.96 million) during the December quarter at JLR under Project Charge, taking the total savings to 2.2 billion pounds so far. Tata Motors has set a full-year target of saving 2.5 billion pounds. Consolidated net profit came in at 29.06 billion rupees ($398.52 million) for the third quarter, compared with a profit of 17.38 billion rupees a year earlier. It had reported a loss of 3.14 billion rupees in the previous quarter. The festive season in mid-November, during which Indians typically make big-ticket purchases, also helped overall sales. "Due to a strong festive season and a clear preference for personal mobility, the PV business posted its highest sales in last 33 quarters," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek said. Total revenue from operations rose 5.5% to 756.54 billion rupees.

Jaguar planning all-electric E-Pace crossover

Jaguar hasn't quite finished rolling out the new F-Pace (pictured above), and already reports are circulating of another crossover model to join it in the near future. According to Automobile, it'll be called the E-Pace. Here's the kicker: it'll be all-electric. The E-Pace would take advantage of ultra-efficient aerodynamics in order to drop its drag coefficient to just 0.28 g, thereby increasing efficiency. It'd also be the first fully electric model from Jaguar, and would likely be even smaller than the sporty new F-Pace. Through-the-road all-wheel drive would give it poor weather traction, and the electric motors would provide plenty of low-end punch. The model would go up against the Tesla Model X and a potential production version of the Audi E-Tron Quattro concept revealed in Frankfurt. Rather than handle production in-house, the E-Pace could emerge as the mysterious upcoming model which Jaguar Land Rover is planning to have Magna Steyr build on its behalf. The factory in Graz, Austria has long built the G-Class for Mercedes-Benz, continues to assemble the Mini Countryman, and has also handled models like the Aston Martin Rapide and BMW X3. Automobile figures that Jaguar would need to make at least 20,000 units each year to make the model profitable. For comparison's sake, Tesla is projected to move about 33,000 Model S units in 2015. Even if the E-Pace falls short of this target, the project could be worthwhile for JLR purely for publicity purposes and to help cut its average fleet emissions. Related Video:

Dodge Viper and Jaguar XK revival | Autoblog Podcast #543

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder and Consumer Editor Jeremy Korzeniewski. We talk the possible rebirth of the Dodge Viper and Jaguar XK, as well as the recent goings-on at Tesla. Then we share some of our experiences driving in Europe. We also discuss the cars we've been driving, and help spend another listener's hard-earned dough in this week's "Spend My Money" segment. Autoblog Podcast #543 Your browser does not support the audio element. Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Dodge Viper and Jaguar XK to make a return? Tesla Model 3 braking issues and Elon Musk vs. media Driving in Europe Cars we've been driving: Porsche Panamera Turbo S E-Hybrid Sport Turismo, Infiniti QX50, Range Rover Velar Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Auto News Green Podcasts Dodge Infiniti Jaguar Land Rover Porsche Tesla Car Buying Used Car Buying Driving Safety Performance jaguar xk infiniti qx50