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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.

Top Gear has an Extra Gear problem | Episode Review

When the BBC announced Extra Gear, I was excited. As an avid fan of show's like The Talking Dead – companion show to AMC's hit The Walking Dead – a behind-the-scenes look at my favorite motoring show sounded promising. But with the fifth episodes of each show, I'm worried that Top Gear is suffering to keep Extra Gear interesting. We'll start with Chris Evans, inarguably the most heavily criticized member of the new Top Gear team. Evans is progressively less shouty and more comfortable filming while driving in each episode – the fifth is no different. He's almost likable in the Zenos E10 video, like a ginger James May, and he delivers accurate and eloquent driving impressions. The review is entertaining, until Extra Gear shows the producers cut a huge element – an old-versus-new sprint around the Race of Champions circuit at the Olympic Stadium in London. Former Formula 1 ace David Coulthard would drive a Caterham 360, while current F1 pro Daniel Riccardo rocked the Zenos. If the entire premise of Evans review is that the Zenos E10 is the newest of the new for British super-lightweight track toys, why did the producers decide to leave a race against the segment's standard bearer for Extra Gear? It's a baffling move, cutting a segment of the film that reinforces Evans' excitement over the Zenos. Rory Reid's Jaguar F-Type SVR piece is excellent. Fifty five years to the day after Jaguar test driver Norman Dewis raced to the Geneva Motor Show in a second E-Type for display, Reid would attempt the same feat in an SVR. If he failed, Jaguar wouldn't have a car to display. Dewis made the 750-mile trip with 13 hours of notice, and Reid would need to do the same. It's a brilliant, simple premise that reminded me of Jeremy Clarkson's so-called "Race against God" in a Jaguar XJ, way back in season 16. The history of the challenge and Dewis' gravelly commentary add gravitas. But the entire film goes by so fast. It's longer than Evans' Zenos video or Harris' BMW M2 film, but at less than ten minutes, Reid and the SVR deserved more screen time. Extra Gear poured salt in that particular wound with a great segment featuring Norman Dewis that deserved to be in the main show. Reid takes the famed test driver for a spin around the Dunsfold track, then, instead of the comedian of the week, the hosts interview Dewis on Extra Gear's couch.

Chris Harris finds the Jaguar F-Type R Coupe rather drifty

Our own Matt Davis may have called the new Jaguar F-Type R Coupe "one heady rascal," but our review was disappointingly short on drifting, tire smoke and general, English shenanigans. You know, the sort of things that Chris Harris from Drive excels at.
Actually, relative to Harris' other reviews, this one is rather serious. There's a good recap of the F-Type on the road, with Harris referencing the car's "great bottom" and "amazing ass," quite frequently. Surprisingly, Harris says the more powerful F-Type R is just "incrementally" faster than the 495-horsepower F-Type V8 S Convertible. Following the on-road portion, it's off to the track. You can probably predict what goes on there. Overall, aside from some quibbles, Harris has nothing but praise for the newest cat.
We've got the entire video available below. Scroll down, have a look and let us know what you think in Comments.