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Jaguar Land Rover undergoes $3.2 billion turnaround plan as sales slump

MUMBAI — India's Tata Motors on Wednesday announced a turnaround plan for its luxury car unit Jaguar Land Rover, which has been hit hard by trade tensions between China and the U.S., low demand for diesel cars in Europe and worries over Brexit. Under "Project Charge," Tata Motors said it plans to cut costs and improve cash flows at Jaguar Land Rover (JLR) by 2.5 billion pounds ($3.2 billion) over 18 months. JLR also plans to launch several new vehicles, including the Jaguar I-Pace and the new Range Rover Defender over the next few years and will offer a hybrid or full-electric version of all its models by 2020. "Together with our ongoing product offensive and calibrated investment plans, these efforts will lay the foundations for long-term sustainable growth," JLR CEO Ralf Speth said after Tata Motors reported a quarterly loss. JLR has trimmed its pre-tax profit expectations for the current fiscal year ending March 31, 2019, and expects to break even, Speth said, versus an earlier target of profit growth. As part of the turnaround plan, JLR will first focus on cash-saving "quick wins" like reducing non-product investments and speeding up asset sales, Tata Motors said in an investor presentation. In the near term it will improve efficiency in areas including purchasing and material cost, manufacturing, logistics and people, and will focus on strategic and non-core asset sales. JLR has already reduced the number of production days at its UK plants in Castle Bromwich and Solihull. The company said in its presentation it has saved 300 million pounds since it initiated the turnaround plan six weeks ago and is working on 500 ideas for the future. Tata Motors reported a loss of 10.49 billion rupees ($141.9 million) for the July-September quarter, compared with a profit of 24.83 billion rupees in the year-ago period. That was worse than the estimate of a loss of 2.40 billion rupees, according to Refinitiv data. JLR reported a loss of 101 million pounds during the quarter and its margin on earnings before interest, tax, depreciation and amortization (EBITDA) fell 130 basis points to 9.9 percent. Retail sales of its Jaguar sedans and Land Rover sport utility vehicles (SUVs) fell 13.2 percent to about 130,000 units, hurt particularly by tariff changes in China and escalating trade tensions. Demand in China remained muted even after the country cut import tariffs for cars and car parts to 15 percent for most vehicles from 25 percent from July.

Land Rover plotting high-performance Disco Sport, Evoque

Jaguar Land Rover is getting serious about performance with its new SVR line of high-output machinery. We've already seen the Range Rover Sport SVR, and we're anticipating more to follow with SVR versions of the new Jaguar XE, Range Rover LWB, outgoing Land Rover Defender and plenty more. The lineup will eventually include performance versions of most, but not all of the British automaker's products. But while the smallest Land Rovers may not get the full-on SVR treatment, JLR reportedly has something in the works. According to Australian website Motoring, Land Rover is watching the segment and considering its options. It sees Audi with its SQ5, BMW planning performance versions of the X3 and X4, and Mercedes plotting an AMG version of the GLC that's set to replace the GLK. The question is just what Land Rover will do. Both the Discovery Sport and Range Rover Evoque are based on the same D8 platform that incorporates transversely mounted inline-fours, so fitting something larger might be prohibitive, but a high-output turbo version of the new Ingenium four-cylinder engine design could do the trick. Considering what the likes of Volvo and Mercedes have managed to do with their high-strung turbo fours, Land Rover's approach could prove to be no slouch at all – even without the 5.0-liter supercharged V8 powering the flagship SVR models. In related news, Autovisie – the automotive section of Dutch newspaper De Telegraaf – projects that an SVR version of the Jaguar F-Type will be among the high-performance models coming up next. Slotting above the F-Type R with its 550 horsepower, the F-Type SVR will be even more powerful. The Project 7 speedster packaged a 575-hp version of the same supercharged V8, potentially pointing the way forward for future SVR models. Featured Gallery Land Rover Range Rover Evoque Autobiography View 17 Photos Related Gallery 2015 Land Rover Discovery Sport View 16 Photos News Source: Motoring.com.au, AutovisieImage Credit: Land Rover Jaguar Land Rover SUV Performance jaguar land rover svr

Nissan Truck-a-Palooza | Autoblog Podcast #483

Episode #483 of the Autoblog Podcast is here. This week, Dan Roth, Alex Kierstein, and Michael Austin talk about the jam-packed Autoblog Garage, Alex Kierstein's time with several new Nissan trucks including the 2017 Armada, and we wrap it up trying to spend your money. Check it out! Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #483 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics 2017 Nissan Armada In The Autoblog Garage 2016 Audi R8 V10 Plus 2016 Jaguar XJR 2016 Jaguar XE Diesel 2016 Jaguar F-Pace 2016 Chevrolet Cruze Premier 2016 Kia Sedona SXL 2017 Mitsubishi Mirage GT Hosts: Dan Roth, Michael Austin, Alex Kierstein Rundown Intro & Garage - 00:00 Nissan Trucks - 19:39 Q&A - 29:38 Total Duration: 40:19 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Audi Jaguar Mitsubishi Nissan