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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Jaguar F-Pace SVR to debut this week at New York Auto Show

It should come as no surprise that the folks back in England have been working on a hot new version of the Jaguar F-Pace. Today, just ahead of the 2018 New York International Auto Show, the British automaker confirmed that the Jaguar F-Pace SVR will debut this week. The new Jaguar I-Pace and Range Rover SV Coupe will make their North American debuts alongside the F-Pace. All we know about the F-Pace SVR is that it will be the fastest and most powerful version of Jaguar's best-selling product. We don't even have a teaser photo, as Jaguar Land Rover loves to play things close to the vest, so we're sharing some spy photos that we think might be the new model. Expect some version of JLR's 5.0-liter supercharged V8. We're hoping it's the 575 horsepower variant from the refreshed Range Rover Sport SVR. Expect 0-60 mph times in the low-4-second range and a top speed of at least 155 mph. The I-Pace and Range Rover SV Coupe both debuted earlier this month at the 2018 Geneva Motor Show. The I-Pace is an all-electric crossover with an estimated 240 miles of range. The SV Coupe is a limited-production two-door variant of the full-size Range Rover. It's meant to be a throwback to the original two-door Range Rover Classic. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Eagle Lightweight GT meticulous Jaguar restomod is 'the best an E-Type can be'

England claims so many boutique, specialist car companies doing such sensational work that if an artist were to draw a national muse for Britannia, she would hold a scepter in one hand and a gear shift in the other. Next up in the island's crowded showroom of posh vehicular gems, Eagle presents its Lightweight GT. The slinky coupe started as a Series 1 Jaguar E-Type (built from 1961 to 1968), then, after 8,000 hours of work in the chrysalis of Eagle's East Sussex workshops, the coupe emerges as a modern and much more comfortable version of Jaguar's factory Lightweight racers from 1963. Some context: After Jaguar stepped away from racing in the late 1950s, the company decided to convert 25 incomplete D-Type chassis into the road-legal XKSS roadster. Come 1962, with the D-Type and competition still on its mind, Jaguar toyed with its new E-Type road car to create the Low Drag Coupe for competition. The factory built just one, powered by a mightier version of the 3.8-liter straight-six in the E-Type that used a wide-angle cylinder head designed for the D-Type. The next year, Jaguar's racing fancy expressed itself in the E-Type Lightweight, still harking back to the D-Type with all-aluminum bodywork and an aluminum block for the 3.8-liter. The automaker planned to fabricate 18 Lightweights, but only got around to building 12. The Lightweights didn't dominate any of the big races, but privateers put them to effective use in smaller series. Their pedigree, aura, and multi-million-dollar valuations convinced Ford to debut an Advanced Lightweight Coupe Concept at the 2005 Geneva Motor Show, and in 2014 convinced Jaguar to complete the six remaining cars in the 18-car build.      Enter Eagle. After its Speedster, Low Drag GT and Spyder GT, the firm calls the Lightweight GT the answer to the question, "What’s the best an E-Type can be?" The hand-formed aluminum skin takes 2,500 hours to shape, revised slightly for better aerodynamics and comfort. A deeper ramp angle in front leads to deeper side sills, which bolster chassis stiffness, and with a lower floorpan, put the driver lower in the car and give him more headroom. Larger wheel arches fit 16-inch magnesium alloy versions of the peg-drive wheel Dunlop introduced in 1954, an inch larger than the wheels on the original Lightweights, and aluminum, three-eared knock-offs. There's steeper rake to the windshield and backlight.