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Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

Jaguar confirms XE reveal for September 8

Jaguar has a whole raft of new products in the pipeline, from the long-awaited replacement for the XF mid-size sedan and a likely XJ-based replacement for the XK coupe and convertible to the production version of its C-X17 crossover concept. But arguably the most important will be the all-new XE, a compact sports sedan pointed squarely at the BMW 3 Series - a market segment which Jaguar last nipped at with the regrettable X-Type, one which it is now committed to tackling head on.
The British automaker has been trickling out a steady stream of details on its upcoming XE, from the initial announcement in March to the reveal of the disguised prototype in May and most recently the details released just last week of the new Ingenium engine family that will provide its motivation. Now Jaguar has confirmed the XE reveal timeframe and some more salient details of its chassis.
Set to be unveiled in London on September 8, the XE will reach European showrooms in 2015 and our shores in 2016. That's when buyers will be able to get their hands on what Jaguar is already characterizing as "a true driver's car; one that redefines the concept of the sports sedan."

Jaguar XF gets performance-look R-Sport trim

If you're looking for all the style of a sports sedan but without the added expense of springing for a full-on performance model (and keeping it fed with fuel and fresh tires), most European automakers will gladly hook you up with an all-show, no-go package. BMW has its M-Sport aero kits, Audi its S-Line, and Mercedes its AMG Sport packs. And now Jaguar is getting in on the action with the launch of the new R-Sport line.
Set to be introduced on the XF at the Geneva Motor Show, the R-Sport trim at least some of the flash of the XFR or XFR-S but with a more economical engine and a relatively accessible price of entry. (This is, after all, still a Jag.) The XF R-Sport is distinguished by a sportier front bumper, side sills, rear spoiler, 17-inch wheels and unique badging to set it apart from any "ordinary" Jaguar XF. The interior is upgraded as well, and there's an optional black styling pack to take things even further.
Jaguar is offering the XF R-Sport in either sedan or wagon form with the 2.2-liter turbodiesel producing 161 horsepower and 295 pound-feet of torque, fitted with a spot-start system to make it a far more frugal option than the 5.0-liter supercharged V8 in the real deal. Although this version won't be coming to US as you see it here, Jaguar tells Autoblog it's always possible it'll produce a similar aesthetic treatment for the North American market - just don't count on such models arriving under diesel motivation. We'll take a closer look at them in Geneva next week, but for now, you can check out the gallery and press release below for an idea of what to expect.