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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.

2017 Jaguar Model Year Preview and Updates

Jaguar, the upscale Brit, is currently enjoying a resurgence in the US, built on an improved value proposition, credible quality, better reliability, and an expanded lineup. That larger lineup now includes an all-new XE four door sedan and Jaguar's first crossover, the F-Pace - pictured above. JAGUAR F-TYPE: An entry-level F-Type has been added to the lineup, improving its accessibility by some $3,600 on the F-Type coupe and roughly $2,700 for the F-Type convertible. XE: Jaguar's compact four door is all-new, and intended to make headway into the sport sedan market long dominated by BMW's 3 Series and, more recently, Audi's A4. The XE brings a tightly drawn platform, responsive drive character and three powertrains to the table, including a 2.0-liter turbocharged diesel. It is on sale now. XF: Jaguar's midsize 'saloon' adds a 2.0-liter turbodiesel to its menu, along with Configurable Dynamics. This optional package allows individual settings for suspension, steering, throttle and transmission. XJ: Jaguar's 2017 XJ builds on the 2016 refresh with the addition of new colors and wheels. F-Pace: Jaguar's first crossover has everything it needs to compete with Porsche's Macan, BMW's X3/X5 and M-B's GLC/GLE. As this suggests, the F-Pace is a 'tweener, sitting between compact and midsize crossovers. It seats five, and is available with either a 2.0-liter turbodiesel or supercharged V6. The line starts at your local Jaguar showroom.

Artist imagines eerie world where cars have no wheels

The wheel ranks right up there with the telescope and four-slice toaster in the pantheon of inventions that have moved humankind forward. But what if a circle in three dimensions had never occurred to anyone, and we all had just moved on without it? Perhaps we'd be driving around in Lucas Motors Landspeeders with anti-gravity engines. Or maybe we'd have the same cars we do today, just without wheels.
That's the thought experiment that seems to have led French photographer Renaud Marion to create his six-image series called Air Drive. The shots depict cars throughout many eras of motoring that look normal except for one thing: they have no wheels. The models used include a Jaguar XK120, Cadillac DeVille (shown above), Chevrolet El Camino and Camaro, and Mercedes-Benz SL and 300 roadsters.
Perhaps one day when our future becomes our past, you'll be able to walk the street and see with your own eyes the rust and patina of age on our nation's fleet of floating cars. Until then, Monsieur Marion's photographs will have to do.