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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.

Question of the Day: What's the greatest British car ever?

The British automotive industry has produced everything from high-production econo-commuters to staggeringly luxurious oligarch-wagons, along the way winning plenty of races and building plenty of beautiful machines. The original Mini led directly to the past half-century of transverse-engine, front-wheel-drive cars built everywhere, the MGB put the sporty little convertible into everyone's reach, and the Morris Oxford became the most beloved motor vehicle in India. So many to choose from, but we want you to pick one. What will it be? Related Video:

2013 Jaguar XJ AWD

Even though this year's winter has gotten off to an abnormally slow start for most of North America, Jaguar has shown the world it means business by launching its all-new Instinctive All Wheel Drive system in Montreal, Canada. Designed primarily for consumers in the Northern US and Canada, Jaguar put us on the same snowy, slushy and icy roads that many of its buyers will have to deal with. Rather than making declawed versions of the XJ and XF, Jag says this system enhances the performance abilities of its sedans when desired while still making them as fun to drive as their rear-wheel-drive counterparts. We had a chance to test out both the XF AWD and XJ AWD, but we spent most of our time behind the wheel of the flagship XJ, driving it on the open roads as well as a few closed courses.
Considering the lengthy and convoluted history of the Jaguar brand - including a stint as a member of Ford's defunct Premier Automotive Group alongside Volvo and Aston Martin - it is rather surprising that the automaker is just now getting around to introducing an all-wheel-drive system intended for widespread use, but the new Instinctive AWD will finally allow the XF, XJ and other future products to better compete against the likes of Mercedes-Benz 4Matic, BMW xDrive and Audi Quattro. In the XJ, Jaguar expects the AWD models to account for around 40 percent of the product mix nationwide and a little bit more (50 percent) for the XF, but in the northern states, it expects around 80 percent of XF sales to be AWD variants.
Instinctive AWD is rear-biased and operates as full rear-wheel drive in good weather, but when the road conditions turn slick, the system can split engine power 50:50 between front and rear axles using a center transfer case.