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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Jaguar wants to make real-life driving just like a video game

Jaguar Land Rover is on a bit of a tech bent today. It's announced its new family of four-cylinder engines and a "self-learning" vehicle Range Rover prototype, and now it's announced what it calls the Jaguar Virtual Windscreen.
The technology is similar to other head-up displays and telematics recorders already on the market, the Jaguar Virtual Windscreen concept takes things to the next level to turn real-life driving into a video game-like experience. It's being demonstrated with data like lap times, grid positions, virtual racing line and brake guidance... even "ghost" cars from previous laps and virtual cones for simulated autocrossing. Just like you'd find in the latest version of Forza or Gran Turismo, but you know... in an actual car - in this case a Jaguar F-Type. It's similar to the Transparent Bonnet system Land Rover revealed a couple of months ago, but instead of rock-crawling, it's for the race track.
The system also incorporates gesture controls and could be configured to display instrument data, a video feed from a rear-view camera to replace the mirror. Check out the details and the video below for a closer look at what JLR has got in store for the near future.

40th Jaguar E-Type ever made sells at auction for lb88k

The 40th Jaguar E-Type ever built, a right-hand-drive 1961 model, hit the auction block and was bought by an anonymous British buyer for 88,000 pounds ($141,310), ITV reports. The Jaguar had been stored at the previous owner's estate, in dry storage, at a derelict farm in Le Mans, France since July 1974.
E-Type chassis No. 860040 was bought by the previous owner in 1969 and was originally gray. But it was driven home to France and painted it in its current aubergine in 1974, before it was put into storage. During that time it was considered missing by experts, but there it sat under a dust sheet car cover for most of its life, so the body is in good condition. The family mechanic said that the car was last started about five years ago, and the engine recently was turned over. Coys auction house describes the original interior, which is also preserved well, as a "time warp."
Chris Routledge of Coys before the auction said, "They're sort of a mythical beast for enthusiast, at the time they were all handmade on special order, so Jaguar collectors look at the first 100 cars in a different way," BBC News reports. He added, "We estimate it to be worth between 20,000 and 40,000 pounds (about $32,100 to $64,200) but our feedback from collectors and interest worldwide suggests it could sell for between 80,000 and 100,000 pounds (about $128,500 to $160,600)." Of course, his revised estimate was right on target.