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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Jaguar E-Pace has an F-Type-inspired interior

Jaguar continues to test its new small crossover, tentatively dubbed E-Pace, and that means our spy photographers continue to capture it in the wild. This time, we got some photos of the interior. From what we can see, it follows in the footsteps of the the F-Type sports car, rather than Jaguar's sedans and larger F-Pace crossover. From the air vents down, the center stack gently slopes toward the shifter. It also has a large grab handle on the passenger side like that in the F-Type. This also makes the center stack feel more driver-centric. The shifter is also F-Type-inspired. While the Jaguar sedans and the F-Pace use a motorized dial that rises from the center console for shifting, the F-Type uses a conventional lever, as does this E-Pace. These interior design choices seem to indicate that Jaguar will market this E-Pace as being a sportier Jaguar than its existing lineup. Our spy photographer also caught this E-Pace prototype with the hatch up. This clearly shows that the E-Pace will have a radically raked rear window. Matched with the voluptuous rear fenders, the E-Pace should have a very aggressive look. As a side note, the open hatch also reveals that there are at least one or two members of the Jaguar team that like Budweiser. We still expect a reasonably long wait until the E-Pace makes its full debut, likely sometime next year at the earliest. We're also expecting the crossover to have a front-wheel-drive-based all-wheel-drive system like the Range Rover Evoque, and it may even use the Evoque platform. While not a bad platform or drive system, most any car enthusiast or journalist would agree that a rear-wheel drive platform would be more naturally sporty and in keeping with this car's interior and possible marketing. Related Video:

Stolen Jaguar E-Type reunited with owner after 46 years

Barely six months into owning it, Ivan Schneider had his Jaguar E-Type stolen from outside of his Manhattan apartment in 1968. Now, 46 years later, the somewhat beat-up convertible has been recovered just before it was about to be shipped to a new owner in The Netherlands.
US Customs agents at the Port of Los Angeles found the car during a routine check, and they contacted Schneider to arrange returning it to him. When the feds found it, the E-Type was already in a shipping container ready to go to its new owner. The condition is hardly perfect today, including rough paint and a replacement door, but Schneider is ecstatic to get his classic back.
Understandably, the now 82-year-old never thought he would see his droptop Jaguar again. Schneider told the LA Times that he bought the E-Type for $5,000 after winning a case as a lawyer, and it was originally painted gray. Now, he plans to have to have the vintage convertible restored to its former glory in New York.