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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.

Your guide to vehicle subscription services

They might be extremely limited in scope because of location availability, but vehicle subscription services are a growing trend that most luxury manufacturers are jumping on. Plans are expensive, but you're paying for much more than just the car typically. We highlighted four of the larger plans with a few more listed at the end. Care by Volvo Volvo launched its subscription service last year with its brand-new XC40. It was the only vehicle available for a time, but subscribers can now get an S60 sedan as well. Subscriptions are for two years, with the monthly price including insurance, a concierge service, wear-and-tear item replacements and all maintenance. You'll be able to drive 15,000 miles per year with whichever Volvo you choose, and although there are no options to extend that mileage, you can swap cars after a year. Pricing for the XC40 is $650 per month in base trim, while an S60 can be as expensive as $850 for the R-Design. Volvo's plan is to offer more cars soon through the service, but it's relatively limited compared to others right now. Porsche Passport Porsche has two levels in its subscription service: Launch and Accelerate. Launch will cost $2,000 per month and give you access to the Cayman, Boxster, Macan and Cayenne. All of those but the Cayenne can be had in "S" trim as well. Accelerate is where the fun really starts. For $3,000 per month you can choose from a fleet of 911s, including the S, 4S, Cabriolet and Cabriolet S. If those aren't enough, you can also get the Panamera 4S, Macan GTS and Cayenne S. There are no mileage limits and you can change vehicles as often as you'd like. Also included in the price is insurance, repairs, detailing and any maintenance. It might be extremely expensive and limited to Atlanta only, but this subscription service is second-to-none for what you get. Audi Select Audi just launched its subscription car service, and it's offered in one version for a flat fee of $1,395 per month. For that you'll have access to five different cars including the A4, S5 Coupe, A5 Cabriolet, Q5, and Q7. Not a bad range of vehicles, but it would've been neat to see the recently updated A7 in there too. Maybe in time. Like the others, insurance and maintenance are wrapped up in the price. Audi is allowing for unlimited miles and two car swaps per month here. In addition to that, you'll get two days of free rentals through Audi's Silvercar rental agency should you go on a trip.

2017 Jaguar XE

You've seen this movie before. Topple the BMW 3 Series has gone more rounds than The Fast and The Furious and The Transporter combined. But like any good cinematic retread, this time it's different. For starters, the latest installment is a zombie flick. Born from the ashes of Ford ownership and the failed X-Type, the 2017 Jaguar XE is coming to save us from the somnambulant, undead Bimmer. Think Army of Darkness with luxury sport sedans, and you'll understand what we're going for. Okay, the plot is only based on a true story. The reality in the automotive world isn't as dramatic as most car journalists would like you to believe. But the XE is hugely important for Jaguar's desire to increase global production. You're looking at the future best-selling model. It's built on an all-new body structure that forms the basis for all the brand's upcoming sedans. The smallest, most affordable Jaguar also launches with a new engine family, built in a new factory in England. The XE arrives stateside in early 2016 with two available engines. A 2.0-liter diesel from the new Ingenium lineup is the entry-level model. Above that is the supercharged 3.0-liter V6 familiar to the Jaguar and Land Rover lineup. A turbo 2.0-liter gas engine will come in below the diesel at a later date, with an optional manual transmission. The XE versions on launch will offer rear- or all-wheel-drive. Pricing information is yet to be revealed. Until then, just assume the XE will mimic its competitors for price and content. We spent most of our time driving the 35t with R-Sport trim, but check back for a driving impression of the diesel in a few days. As we reported in our prototype drive of the XE earlier this year, this car has incredible steering feel. It's the supernatural aid in the XE's monomyth if any film buffs are still paying attention. The electrically assisted system ranks in the hall of fame with the rack on the current Porsche 911 Carrera. Lightly weighted, the loads build up in the steering wheel like it's wired to strain gauges on the sidewall of the front tires. It's not just good programming that makes the XE steer so well, although that's a big part. The rest comes from the chassis. Jaguar engineers claim the double wishbone front suspension uses lessons learned from the F-Type. The rear part of the car's quick responses comes from a multi-link setup Jag calls integrated link. A body 20-percent stiffer than the current XF also contributes to sharp reflexes.