1986 Jaguar Vanden Plas on 2040-cars

Auto blog

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.

2019 Jaguar XJ50 is a supercharged birthday present

Jaguar is celebrating the 50th anniversary of its elegant luxury sedan, the XJ, with a stylish and supercharged new model called the XJ50. This nod to eight generations of XJ comes in long-wheelbase format and is powered by either a 340-horsepower supercharged V6, or snarling 470-hp supercharged V8. While the V6 model is available with a choice of rear- or all-wheel drive, the more powerful V8 is offered only in rear-wheel drive form. Revealed for the first time at the 2018 Beijing Motor Show, the XJ50 is visually separated by the standard XJ sedan by having unique front and rear bumpers, a gloss black grille, special badges on the side vents, along with 20-inch alloy wheels with a gloss black diamond turned finish. Four colors will be available: Rosello Red, Santorini Black, Fuji White, and Loire Blue. How something along the lines of British Racing Green didn't make the cut remains a marketing mystery, however. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The XJ50 cabin is fitted with unique touches like an XJ50 logo on the front center armrest, illuminated XJ50-branded treadplates, diamond-quilted seats with the Jaguar leaper logo on the headrests, along with metal pedals and aluminum shift paddles mounted on the steering wheel. "This is a car worth celebrating and the XJ50 pays homage to a giant within the Jaguar brand that we believe is one of the world's most stylish sporting saloons," said Ian Callum, Jaguar Director of Design. While only the most jaded automotive Grinch wouldn't enjoy a birthday celebration -- really, who doesn't like cake with their illuminated treadplates(?) -- there's a sense the XJ50 marks the end of the road for the brand's long-serving luxury sedan. Rumors persist that the XJ will soon migrate to an all-electric platform, to compete directly against cars like the Tesla Model S and upcoming Porsche Mission E. Jaguar did not release an exact price of the 2019 XJ50, though a long-wheelbase XJ with the 340-hp V6 and rear-wheel drive carries a starting price of approximately $84,500.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Beijing Motor Show Jaguar Luxury Sedan jaguar xj

Submit your questions for Autoblog Podcast #323 LIVE!

We're set to record Autoblog Podcast #323 tonight, and you can drop us your questions and comments regarding the rest of the week's news via our Q&A module below. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
Discussion Topics for Autoblog Podcast Episode #323
Lamborghini Veneno