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Strong JLR sales in China boost Tata Motors' quarterly profit

BENGALURU, India — Tata Motors Ltd on Friday posted a 67.2% surge in quarterly profit. Sales at its luxury car unit, Jaguar Land Rover (JLR), improved in key market China as the country led a recovery in the global automobile industry from the pandemic. The Indian carmaker had logged losses for three straight quarters as the COVID-19 pandemic dented business in several of its key markets even as it was already dealing with uncertainties around Brexit, weak demand and rising costs. The Brexit trade deal agreed upon in December has avoided the risk of tariffs on automotive parts and finished vehicles, Tata Motors said, adding that JLR remains encouraged by the Brexit trade deal. JLR sales in China jumped 20.2% on-quarter and were 19.1% higher from the year-ago period. Retail sales at the unit, which accounts for most of the company's revenue, were up 13.1% from a quarter ago, but still 9% lower than pre-pandemic levels. The company said it had saved 400 million pounds ($548.96 million) during the December quarter at JLR under Project Charge, taking the total savings to 2.2 billion pounds so far. Tata Motors has set a full-year target of saving 2.5 billion pounds. Consolidated net profit came in at 29.06 billion rupees ($398.52 million) for the third quarter, compared with a profit of 17.38 billion rupees a year earlier. It had reported a loss of 3.14 billion rupees in the previous quarter. The festive season in mid-November, during which Indians typically make big-ticket purchases, also helped overall sales. "Due to a strong festive season and a clear preference for personal mobility, the PV business posted its highest sales in last 33 quarters," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek said. Total revenue from operations rose 5.5% to 756.54 billion rupees.

US-spec 2017 Jaguar XE sport sedan revealed

The Jaguar XE touched down in certain international markets earlier this year, but now the US gets its first crack at the 2017 model, already updated after just a few months on sale. Our various drives of the entry-level cat have made us purr, and the price/engine combos aren't bad either: $34,900 for the XE 25t and its 2.0-liter turbocharged four-cylinder gas engine with 240 horsepower and 251 pound-feet of torque, $36,400 for the XE 20d and its 2.0-liter diesel four-cylinder with 180 hp and 311 lb-ft, and $41,700 for the XE 35t and its 3.0-liter supercharged V6 with 340 hp and 332 lb-ft. All those prices are before the $995 destination charge. That Ingenium diesel will be the first oil-powered Jaguar on our shores, and will be one of the two models available with the company's torque-on-demand all-wheel drive, along with the 340-hp supercharged V6. Both AWD models are pure rear-wheel drive until power is required up front, at which time it can be shunted forward in 165 milliseconds. All trims get a ZF eight-speed automatic, but the supercharged 35t gets the sturdier 8HP70 transmission, while the rest get the more compact 8HP45 transmission. Cabin options will include an InControl Touch infotainment system with an eight-inch screen or an InControl Touch Pro system with a 10.2-inch screen and Apple Watch connectivity. Standard audio comes from a 380-watt system with 11 speakers, the upgrade runs to 825 watts and adds six more speakers. The sheet of standard and optional driver aids lists All-Surface Progress Control, a low-speed cruise control on top of adaptive cruise control, a laser heads-up display, Traffic Sign Recognition and an adaptive speed limiter that uses traffic sign information. The even newer XE gets here next spring, you can read more about it in the meantime in the press release below. 2017 JAGUAR XE DEBUTS IN LOS ANGELES WITH AWD AND APPLE WATCH CONNECTIVITY - Award-winning Jaguar XE sports sedan to arrive in U.S.

Jaguar opens new engine plant in the UK

The heads of Jaguar Land Rover are having a busy couple of weeks opening factories. Just days after inaugurating the company's first overseas plant in China, the automaker's new Engine Manufacturing Center in the UK is being inaugurated, as well. The plant near Wolverhampton, England, marks the first time in decades that JLR is building its own powerplants in-house. Further signaling the importance of this launch for the business, Queen Elizabeth II and Prince Philip were on hand and even tweeted about it.
The factory's first major project is to build JLR's latest Ingenium four-cylinders, starting with the 2.0-liter diesel version. "Our new Engine Manufacturing Centre is an important step in advancing the competitiveness and capability of the UK automotive sector. The production of in-house engines will support the expansion of the UK supply chain providing critical mass for inward investment," said Trevor Leeks, plant operations director in the automaker's announcement.
Opening the doors to the Engine Manufacturing Center has been years in the making for JLR. The plant was first announced in September 2011 and broke ground in June 2012. Building it cost the company 500 million pounds ($800 million) and created 1,400 new jobs. Of course, being a state-of-the-art factory, considerations were made to make the place as energy efficient as possible. That meant installing the UK's largest solar array with 21,000 panels to produce about 30 percent of the site's electricity needs.