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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.

Jaguar to sell all-electric cars by 2030, and six electric Land Rovers coming in next five years

Jaguar is making a big transition to become an electric-only car company. The switchover is meant to kickoff in 2025, and by 2030, Jaguar says 100% of its vehicle sales will be of electric models. Land Rover is taking a similar route, but to a lesser extent. The British off-roading brand says that it will introduce six pure electric variants in the next five years, with eyes on 60% of its sales being of electric models by 2030. Its first all-electric model will arrive in 2024, JLR said. An Automotive News report cites CEO Thierry Bollore, saying he expects "almost zero" production of cars with internal combustion engines by 2039, making that the theoretical end date of Land Rover vehicles with ICEs.  JLR, owned by India's Tata Motors, said on Monday the Jaguar brand will lead the way with a fully-electric model range built on a brand-new electric platform. The Land Rover EVs are to be built on a separate electric vehicle architecture to provide for "two clear unique personalities." The Land Rover EVs are said to be finding homes on both the Modular Longitudinal Architecture (MLA) and Electric Modular Architecture (EMA). Both support combustion engine layouts and full EV layouts, but the latter is said to be more biased toward EVs and to exclusively support "advanced electrified ICE." Both brands will be taking advantage of technology from within the Tata Group (JLR's owners) to make this transition happen. There's limited information on the future of certain models for the time being, but Jaguar did say that its previously-planned XJ replacement will no longer have a place in the brand's lineup. That said, Jaguar says the nameplate might stick around, with the assumption it could be used on an all-new future EV. Additionally, Automotive News reports that Jaguar will transition away from SUV-style vehicles, citing Bollore — the theory being that Land Rover takes over and completely fills that space in the future. We'll be wondering about what will become of the F-Pace and E-Pace. Our biggest Jaguar question concerns the F-Type, though. Will we get a fully electric version of the sports car in the future? Jaguar didn't address it, but we certainly hope so. JLR said that as it electrifies its model range, it will keep all three of its British plants open. But Bollore, who took over as chief executive in September, said the carmaker's Castle Bromwich plant in central England would focus on "non-production" activities in the long term.

Aston and Jag from James Bond Spectre have at it

Daniel Craig hasn't made a bad James Bond film yet. Spectre is his next step into the iconic role that's due to hit theaters on November 6, and it doesn't look likely to ruin his streak. Still, that's a long wait for such an exciting movie. If you're willing to possibly spoil just a little for yourself, a new featurette shows part of one of the big car chases right now. From what we've seen so far, the chase through Rome in Spectre has earned a good amount of screen time. While the reason for it in the plot is a mystery, that doesn't really matter anyway. What's important is that the scene stars Bond in the Aston Martin DB10 and a villain played by Dave Bautista in the now supercharged V8-powered version of the Jaguar C-X75 racing around the Italian capital's tight streets at night. This clip gives a glimpse at some of the work necessary to get the difficult filming completed. We've seen some of that effort before, though, when footage of the preparation for one shot leaked out. Craig reportedly sustained a pretty bad bump on the head during the shooting, and an earlier rumor also suggested that Bond might get behind the wheel of a Fiat 500 at some point in the scene.