1995 Jaguar Xjs Base Convertible 2-door 4.0l on 2040-cars

Auto blog

Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

Question of the Day: What's the greatest British car ever?

The British automotive industry has produced everything from high-production econo-commuters to staggeringly luxurious oligarch-wagons, along the way winning plenty of races and building plenty of beautiful machines. The original Mini led directly to the past half-century of transverse-engine, front-wheel-drive cars built everywhere, the MGB put the sporty little convertible into everyone's reach, and the Morris Oxford became the most beloved motor vehicle in India. So many to choose from, but we want you to pick one. What will it be? Related Video:

2014 Jaguar XKR-S GT claws at the driving enthusiast in us

If you still find yourself coming up a few seconds short per lap in your Jaguar XKR-S, the British automaker has introduced the XKR-S GT - a cat specifically tuned for the racing circuit - at the New York Auto Show.
While Jaguar has left the supercharged 5.0-liter V8 unchanged (550 horsepower and 502 pound-feet of torque), it has tuned and tweaked all the items that really make cars go quicker on the track (e.g. suspension, aerodynamics, contact patches, brakes). A once-over reveals upgraded go-fast goodies including a new ventilated hood, extended wheel arch spats, reworked front end with a bespoke front splitter and canards, a massive rear wing, height-adjustable adaptive dampers, active exhaust, carbon-ceramic brakes and sticky Pirelli Corsa tires. Try as we might, the driver in us can't find anything we not to like about this enthusiast-tuned coupe.
Of course all of the upgraded XK goodness doesn't come easy, or cheap. Jaguar will limit North American sales to just 30 units and price each at $174,000. Learn all the juicy details in the official press release below.