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Jaguar Land Rover cutting production in face of falling demand

LONDON — Jaguar Land Rover will reduce or stop production on certain days at two of its British factories over the next few weeks as Britain's biggest carmaker pursues cost-cutting measures in response to falling demand. JLR posted a 2.3% drop in retail sales in the three months to the end of December and has targeted billions of pounds worth of savings to tackle falling diesel demand in Europe and a tough sales environment in China. The firm will halt production on selected days over a four-week period from late February at its Castle Bromwich factory in central England and stop production on some half or full days at its nearby Solihull facility until the end of March. "The external environment remains challenging for our industry and the company is taking decisive actions to achieve the necessary operational efficiencies to safeguard long-term success," the company said in a statement. "We have confirmed that Solihull and Castle Bromwich will make some minor changes to their production schedules to reflect fluctuating demand globally, whilst still meeting customer needs." The move is not connected to coronavirus, a spokeswoman said, which prompted Fiat Chrysler to warn on Thursday that a European plant could shut down within two to four weeks if Chinese parts suppliers cannot get back to work. Related Video:

Jaguar previews XF sedan ahead of New York debut

Jaguar is in the midst of an aggressive product expansion, with the new F-Type taking it back into sports-car territory, the upcoming F-Pace putting it in the crossover market for the first time and the XE renewing Jag's assault on the entry-level luxury-sedan segment. But it hasn't forgotten about its core models. The British automaker has a new flagship XJ under development, and Jag will showcase a brand-new XF at the New York Auto Show next month. But before it does, Jaguar has given us something to chew on with these teaser images: one showing the new sedan from above, and one showing the new cockpit. Now it may be hard discern much from that overhead view – which is not a typical teaser – but it's clear the new XF will feature more sharply creased body lines and a large panoramic sunroof. Meanwhile the interior looks like a modern update of the current model, borrowing some elements from the smaller XE. There's a wider infotainment display, the rotary knob for the transmission has moved toward the center, some (but not all) of the air vents appear to hide away when not in use, and there's a sportier steering wheel – though we do appear to be looking at the more performance-oriented S model. The XF, for those having trouble keeping track, is Jaguar's challenger to the likes of the Mercedes E-Class, BMW 5 Series, Audi A6 and Maserati Ghibli. It was introduced in 2007, and has been available (in certain markets anyway) in sedan and wagon forms, with engines ranging from a 2.0-liter turbo four with 240 horsepower all the way up to a 5.0-liter supercharged V8. With the New York show fast approaching, we won't have to wait much longer for a complete view of the new XF. But even before then, Jaguar promises to reveal the new XF in dramatic fashion in London: on March 24, it will drive the new sedan on two wires barely more than an inch thick suspended high above the river.

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.