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Jaguar Land Rover posts profitable quarter amidst big yearly losses
Mon, May 20 2019Jaguar 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.
Jaguar Land Rover to badge vehicles based on horsepower
Wed, Sep 27 2017Add Jaguar and Land Rover to the list of automakers changing their nomenclature due to the realities of engine downsizing. Spy photos of an unreleased Jaguar F-Type model show a badge reading P380 AWD. The letter P evidently refers to Petrol (British for gasoline), and 380 is the engine's horsepower. According to Auto Express, the entry-level F-Type will be badged P300, indicating the power output of its 2.0-liter turbocharged four-cylinder engine. Land Rover is expected to follow suit with the new badging nomenclature. Diesel models will get a D instead of a P, while electric and hybrid models will get an E badge, along with a number corresponding to total system power. So, expect the I-Pace to sport an E400 badge on its hind end. One question we have, though, is how the disparity between mechanical, metric and imperial horsepower will be dealt with. While such power-specific badges are arguably unnecessary, we expect the trend to proliferate as engines continue to get smaller but turbocharging and electrification keep horsepower climbing. At least JLR's badges are easier to understand than the messy way Audi plans to rename its models or the way BMW completely dismisses actual engine size in its naming convention. Related Video: News Source: Auto ExpressImage Credit: Simon Dawson/Bloomberg via Getty Design/Style Green Jaguar Land Rover Convertible Crossover Hatchback SUV Wagon Luxury Performance Sedan jaguar land rover
Jaguar XE teased in new video, will debut September 8
Fri, 05 Sep 2014Outside of a major auto show, this might be one of the best times of the year for new car debuts, and we couldn't be more excited. Just this week, the low-slung face of the next-generation Mazda MX-5 Miata showed itself to the world, and Land Rover debuted its new Discovery Sport. Plus, there's a double-whammy of launches on the imminent horizon with the unveilings of the Jaguar XE on September 8 and the Mercedes-AMG GT on September 9.
Jag is teasing the launch of its latest midsize luxury sedan with a few glimpses on video. It's strangely secretive, given the fact that Jaguar showed the XE's face completely un-camouflaged a few weeks ago. Regardless, it's quite a looker up front with a sleeker take on the shape of the larger XF.
Because of the way Jaguar is slowly leaking details about the XE, there are a few other things we already know about this new cat, too. It rides on a monocoque chassis made from over 75 percent aluminum, and the automaker is promising 75 miles per gallon fuel economy on the more lenient European cycle for at least one engine in the lineup.