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Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

Jaguar F-Type 'Design Study' headed to Goodwood

With the Goodwood Festival of Speed taking place this weekend, Jaguar has announced it will be there with its new trio of R models as well as a design study version of the hot new F-Type sports car. While we've already seen the XFR-S last year at the LA Auto Show and the XJR and XKR-S GT at the New York Auto Show, the F-Type design study has our attention.
Based on our recent sighting of a fixed-roof F-Type being tested in full camouflage, this could mean that we'll finally get to see a sexy F-Type Coupe in near-production form. Of course, with all of the other R branded models on display, Jaguar could also unveil a sporty new R - or maybe even an RS - F-Type roadster. Whatever is planned, it will not be a static display - Jaguar says the design study car will be in action, making the fabled run up Goodwood Hill with chief engineer Mike Cross at the wheel. Scroll down for more information about what Jaguar has planned for Goodwood.

Jaguar takes evolutionary approach for 2016 XF [w/videos]

One week ahead of its debut at the 2015 New York Auto Show, Jaguar has let loose a slew of images and details on the second-generation 2016 XF Sedan. The release comes alongside a high-profile stunt over London's Canary Wharf. A total of 75 percent of the XF's body is made from aluminum, which trims the big cat's curb weight by 132 pounds on the rear-drive model and 265 pounds on the all-wheel-drive variant. Aside from aiding acceleration, braking and fuel economy, the advanced structure promises an increase in torsional stiffness as well as a 50-50 weight distribution. Beyond that, the new car's dimensions differ only slightly compared to last year's XF. The wheelbase has been stretched by two inches, although the new model is 0.3-inches shorter and 0.1 inches lower. Double wishbones are used in front while an integral-link suspension sits in back with standard traditional dampers and optional adaptive dampers. Jaguar is also promising the Configurable Dynamics system that was pioneered on the F-Type. No surprise here, but an electric power-assisted tiller will be in use, although Jag says it benefits from lessons learned with the XE. Jaguar is mum on its full powertrain lineup, although it does mention that both 340-horsepower and 380-hp versions of Jaguar Land Rover's familiar 3.0-liter, supercharged V6 will be offered, paired with standard eight-speed automatic transmissions (likely the highly regarded ZF autobox). Jaguar's designers, led by design director Ian Callum, didn't rock the boat too much for the new sedan. Clearly inspired by the upcoming XE, the new XF gets a wider, but thinner grille. The headlights are slimmer, but retain a similar shape compared to last year's car, and as is the trend, they're now lined with LED accenting. The S trim, shown above, gets wide, menacing grilles in the front bumper as well as a total lack of chrome trim. The XE influence is most evident on the XF's tail, where the Aston Martin-aping taillights of the first-gen have been ditched, with broader, angled units, complete with an F-Type-inspired LED pattern. As with the current car, a thin chrome strip ties the lights together, while the lower bumper on this sportier model features a gloss black surround for the dual exhausts. Not surprisingly, the XF's profile is pretty classic, with a very long hood and a short deck that terminates in a handsome duckbill spoiler.