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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 F-Type slashes $3,600 off base model

It won't be quite such a drain on the checking account to hop into a Jaguar F-Type for the 2017 model year. The 2017 F-Type Coupe will start at $62,395 (after the $995 destination charge), which is $3,600 less than the 2016. Jag will also give the convertible a $2,700 price cut to begin at $66,395. Drivers won't really be giving up amenities with either of these. Both entry models will use the company's supercharged 3.0-liter V6 making 340 horsepower and a six-speed manual transmission. They'll come with partially electric six-way adjustable seats and a fixed metal roof for the coupe. New standard features will include a valet mode, solar attenuating windshield glass, and the brand's EliteCare warranty with five-years/60,000 miles of complimentary scheduled maintenance. The vehicles also still pack navigation and a surround sound stereo system. The 2017 F-Types will arrive at dealers in late spring 2016. The move to cut prices follows on Jag's decision in September to slash the cost of the XF 35t by over $5,200. Related Video: THE 2017 JAGUAR F-TYPE • 2017 Model Year F-TYPE lineup to include new $61,400 1 F-TYPE Coupe and new $65,400 1 F-TYPE Convertible entry models, reducing available cost of entry to the sports car family by $3,600 and $2,700 respectively • Standard Best-in-Class Jaguar EliteCare Ownership Package 2 Featuring New Vehicle Limited Warranty, Roadside Assistance, Jaguar InControl® Protect & RemoteTM and the Longest Complimentary Scheduled Maintenance Package of any Luxury Brand in the Market (Mahwah, N.J) – November 12, 2015 – Jaguar North America today announced it will expand the price range of the F-TYPE lineup in the U.S. for the 2017 model year to include new entry-level coupe and convertible models which lower the introductory price of the F-TYPE Coupe & Convertible to $61,400 1 and $65,400 1 respectively. The 2017 line-up of Jaguar sports cars will continue to consist of the F-TYPE, F-TYPE S and the range topping F-TYPE R. The addition of a new entry price level for 2017 Jaguar F-TYPE builds upon the pricing realignment strategy announced as part of The Next Generation of Jaguar for the 2016 model year in which an improved competitive value position was brought to market through a combination of new entry priced models, increased standard equipment and lower MSRPs that all help the brand target the heart of the luxury market.

Jaguar to follow up with larger J-Pace crossover

Jaguar is about to launch its first foray into the crossover market (that's the C-X17 Concept you see above) with the upcoming debut of the F-Pace, but that won't be its last. According to the UK's Car magazine, plans are already underway to launch a bigger J-Pace crossover as well. Just as the F-Pace is set to serve as the high-riding counterpart to the XF sedan, so too would the J-Pace align itself with the upcoming new XJ – in a strategy not unlike what Mercedes is taking with its crossovers, aligning the GLE (nee M-Class) with the E-Class, the upcoming GLS (GL-Class) to the S-Class and so on. That would make the J-Pace a rival to the likes of the aforementioned GLS and Audi Q7. Tipped to launch in 2019, the Jaguar J-Pace is expected to borrow its aluminum underpinnings from the flagship Range Rover, but take a sportier, more dynamic approach than the top-of-the-line Landie. Expect V6 and V8 engines to be offered, alongside diesel and hybrid powertrain options. The J-Pace has reportedly won out over other proposals to expand the XJ family with coupe, convertible and wagon variants, as the crossover is expected to drive higher sales. Here's hoping those revenues could be poured back into those back-burnered projects, too. Related Video: