2005 Jaguar Xk8 Convertible on 2040-cars

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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.

Child cobalt miners: Automakers pledge ethical minerals sourcing for EVs

BERLIN - Leading carmakers including Volkswagen and Toyota pledged on Wednesday to uphold ethical and socially responsible standards in their purchases of minerals for an expected boom in electric vehicle production. Demand for minerals such as cobalt, graphite and lithium is forecast to soar in the coming years as governments crack down on vehicle pollution and carmakers step up their investments in electric models. To cover its plans for more than 80 new models by 2025, Volkswagen alone is looking for partners in China, Europe and North America to provide battery cells and related technology worth more than 50 billion euros ($59 billion). Talks with major cobalt producers, including Glencore, at VW's Wolfsburg headquarters last week ended without a deal. More than half of the world's cobalt comes from the Democratic Republic of Congo, a country racked by political instability and legal opacity, and where child labor is used in mines. On Wednesday, a group of 10 leading passenger-car and truck manufacturers announced an initiative to jointly identify and address ethical, environmental, human and labor rights issues in raw materials sourcing. The partnership dubbed "Drive Sustainability" consists of VW, Toyota Motor Europe, Ford, Daimler, BMW, Honda, Jaguar Land Rover, Volvo Cars and truckmakers Scania and Volvo. The alliance "will assess the risks posed by the top raw materials (such as mica, cobalt, rubber and leather) in the automotive sector," said Stefan Crets of the CSR Europe business network. "This will allow Drive Sustainability to identify the most impactful activities to pursue" to address issues within the supply chain.Reporting by Andreas Cremer.Related Video: Image Credit: Michael Robinson Chavez/The Washington Post via Getty Images Green BMW Ford Honda Jaguar Land Rover Mercedes-Benz Automakers Toyota Volkswagen Volvo Green Automakers Green Culture Electric Scania ethics mining

2017 Jaguar F-Type SVR First Drive

Jaguar's F-Type SVR has a special new exhaust. I drove the car in Monterey, California, where there's this tunnel right in the middle of town. You see where I'm going with this. The pipes attached to the "normal" F-Type R's supercharged 5.0-liter V8 is a flatulent riot, one of the most flamboyant wind sections in modern exhaust-dom. And then Jaguar's Special Vehicle Operations, the group of madmen responsible for the Project 7, comes along and rips it all out for the SVR. The room is needed for a rear diffuser, see. So a new system is fabbed using two fancy lightweight alloys, Inconel and titanium. A pair of mufflers sprout where one used to be. More. Better. Louder. Yes, all of that. Geez it's loud. And there's this tunnel, remember. Enter it and lift from the throttle, and it sounds as though there are some kids stowed away in the trunk tossing handfuls of M-80s out the back. "Big report" is what it'd say on the box if the F-Type SVR were a firework. It's dramatic, perhaps excessive. Scratch that – it's definitely excessive. This F-Type is only the second full-production effort from Jaguar Land Rover's SVO, the first being the Range Rover Sport SVR, and so it's also the first Jaguar SVR ever. Whereas that Range Rover combines quickness with surprising cross-country abilities, the F-Type SVR has a singular mission: Go faster. And so, with a tweak of the electronic limiter and some other fiddling, voila!, suddenly the coupe can reach a top speed of 200 mph. The convertible is not far behind at 195. Although there aren't many places in the world where you'll actually want to probe those max velocities, the engine's 575 horsepower and 516 pound-feet of torque are plenty to risk your license. The SVR adopts many of the engine improvements that hoisted the Project 7 to the same power level but bests that very special car's torque figure thanks mostly to new intercoolers. Remember, the regular F-Type R is only good for 550 hp. Only. What a world we live in. Aside from the added power, this is much more of a range-topping special trim than it is a significantly different model. Like the R, the SVR comes only with all-wheel drive and an eight-speed automatic transmission. Operating it in manual mode is more pleasant, in part because the paddle shifters behind the wheel are made out of aluminum instead of plastic like on other automatic F-Types.