84 Jaguar 350 Chevy Conversion on 2040-cars

Auto blog

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.

Seven-figure cars highlight day one of RM's Monterey auction

RM Auctions is one of several houses holding auctions during the Monterey weekend, and Friday night's festivities got quite pricey. Seven-figure vehicles were not at all uncommon during the first day of the two-day event, with the 1953 Ferrari 375 MM Spider, seen above, crossing the block for $9,075,000.
Other big earners included a pair of rare Ferraris, a 1950 166 MM Barchetta and a 1955 750 Monza Spider, which took $3,080,000 and $4,070,000, respectively. Outside of the red Italians, a 1939 Mercedes-Benz 540K Special captured $7,480,000 while a stunning, color-appropriate 1955 Jaguar D-Type took $3,850,000. We've got images of these vehicles, and a few other stunning examples of last night's auction, in the gallery above.
Thought it seems impossible, tonight's auction is expected to see even more high-dollar action. The winner of the 2012 Pebble Beach Concours, a 1928 Mercedes-Benz 680S Torpedo Roadster is expected to command over $10 million. Also crossing the block will be a car we reported on a few weeks back - a supremely rare 1967 Ferrari 275 GTB/4 NART Spyder. One of only 10 in the world, it's expected to take anywhere from $14 to $17 million when it hits the stage tonight.

Jaguar F-Type to pace Bloodhound SSC as rapid response vehicle

The Bloodhound SSC is out to beat the world land speed record, but it can't do it all on its own. The team is going to need a motorcade of support vehicles, like this specially equipped Jaguar F-Type. Outfitted by JLR Special Vehicle Operations with radio equipment and a unique livery, the Bloodhound SSC rapid response vehicle is based on the latest F-Type R AWD coupe. It'll serve a similar role that a pace or safety car does for a race, and be called into service in case of a high-speed emergency. The Bloodhound SSC itself will likewise be equipped with the same 5.0-liter supercharged V8, its 542 horses powering the jet-car's hydraulic system and oxidizer pump. The special F-Type will mark its debut at the Coventry MotoFest later this month (appearing again at Goodwood next month) alongside a '56 Long-Nose D-Type, the one-of-a-kind '66 XJ13, a '76 Broadspeed XJ12 Coupe, and the XJR-9 that won Le Mans in 1988. JAGUAR TO DEBUT BLOODHOUND F-TYPE RAPID RESPONSE VEHICLE AT COVENTRY MOTOFEST - World debut of Jaguar F-TYPE R AWD Bloodhound SSC Rapid Response Vehicle (RRV) at Coventry MotoFest (30/31 May) - Jaguar's 5.0-litre supercharged V8 550 PS sports car will support Bloodhound SSC World Land Speed Record attempt - Jaguar will be at the heart of Bloodhound SSC providing its 5.0-litre 550PS supercharged V8 engine to provide hydraulic services to the car and drive the rocket's oxidiser pump - Jaguar also previewing Goodwood Festival of Speed activity at MotoFest with a host of iconic heritage cars (Whitley, Coventry – 20 May 2015). Jaguar will unveil the F-TYPE R AWD Bloodhound SSC RRV at Coventry MotoFest – one of the cars that will support the Bloodhound world land speed record attempt. The Bloodhound F-TYPE R is the latest project of Jaguar Land Rover's Special Vehicle Operations and is wrapped in a bespoke livery created by Jaguar Design incorporating the Bloodhound SSC colours. This year's MotorFest promises to be bigger than ever with a range of attractions and gigs. The organisers close off the Coventry ring road to public traffic in order to host a number of motorsport activities and the Bloodhound F-TYPE will be taking part in laps on Saturday May 30 and Sunday May 31. Jaguar will also be previewing its activities at the 2015 Goodwood Festival of Speed – the theme of which this year is 'Flat Out and Fearless: Racing on the Edge' - by bringing along some of the most iconic cars from its rich heritage.