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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.

Lots of Land Rovers, Jaguars and Minis actually survived that near-capsized ship

Despite a severe list to starboard, many of the 1,400 cars and SUVs aboard the 51,000-ton Hoegh Osaka are currently being recovered in salvageable condition, with video showing some of the vehicles from British brands Land Rover, Jaguar and Mini, being driven ashore under their own power. The car-carrying vessel developed a severe list on January 3 and was intentionally run aground on a sandbar between England and the Isle of Wight. It has since limped its way back to port in Southampton, where damage assessments are being conducted on both the ship and its $53-million in cargo. According to the company that owns the car carrier, the ship itself only suffered minor damage in the incident, while Car and Driver is reporting that many of the damaged vehicles will almost certainly be scrapped. Still, the fact that there are vehicles, some of which appear undamaged (look at that Defender at 0:50!), being removed from the Hoegh Osaka needs to count as a net win. News Source: Car and Driver, WonkaBar007 via YouTube Jaguar Land Rover MINI Coupe Crossover Hatchback Luxury Off-Road Vehicles Performance Videos Sedan

Watch Jaguar build its XJR Rapid Response Vehicle for Bloodhound SSC

Last month, Jaguar revealed an F-Type specially equipped to serve as a Rapid Response Vehicle for the Bloodhound SSC. Now it's rolled out a pair of XJRs kitted out for the same purpose. Set to debut when test pilot Andy Green drives one up the hill at Goodwood later this month, the Jaguar XJR Rapid Response Vehicle has been equipped by Jaguar Land Rover's Special Vehicle Operations division. As you can see, it's got a special livery of blue and orange to mimic the rocket- and jet-powered streamliner's own color scheme, and has been stripped out and fitted with a roll cage and specially crafted tools for the land speed record attempt. Of course, the 5.0-liter supercharged V8 carries over with its 550 horsepower to propel it to 60 in 4.4 seconds and on to a top speed of 174 miles per hour. Alongside the F-Type – which recently undertook a parachute deployment test – the pair of XJR Rapid Response Vehicles will be on hand in South Africa when the Bloodhound attempts to break the land speed record as well as the sound barrier on dry land. Check out the build process in the video. Jaguar Rapid Response Vehicles for Bloodhound SSC to Star at Goodwood Festival of Speed - Bespoke Jaguar XJR Rapid Response Vehicle (RRV) for Bloodhound SSC to make dynamic world debut at Goodwood Festival of Speed - Current world land speed record holder Andy Green to drive the 16MY XJR RRV up the Goodwood hill on Saturday 27 June 2015 - Bloodhound's RRV Fleet now includes two XJRs and an F-TYPE custom-built by Jaguar Land Rover's Special Operations team - Jaguar's history in supporting world land speed records dates back to 1983 with an XJ12 for Richard Noble's record attempt in Thrust 2 Jaguar is to further showcase its commitment as Technical and Innovation Partner to the Bloodhound Project with the world debut of its custom-built XJR Rapid Response Vehicle (RRV) at Goodwood Festival of Speed, alongside the recently unveiled F-TYPE R AWD RRV. One of two XJRs being provided for the record attempts will be on show at the festival and will also take part in the First Glance hill run on Saturday 27 June 2015 with current world land speed record holder and Bloodhound SSC driver Andy Green at the wheel. The two new additions to Bloodhound's fleet are the latest creation of Jaguar Land Rover's Special Vehicle Operations (SVO) division and are wrapped in a bespoke livery created by Jaguar Design incorporating the Bloodhound SSC colours.