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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-Land Rover builds millionth vehicle at Halewood

Jaguar-Land Rover is not what you'd call a volume automaker by any stretch of the imagination. But in the dozen years since it started manufacturing at its Halewood plant near Liverpool, England, the automaker has already built its millionth vehicle.
The landmark vehicle is a Range Rover Evoque, done up in white with red roof and mirrors, black wheels and a red and black interior. The crossover is set to be donated to Cancer Research UK, which will auction it off next year to help fund its projects in the north-west of the country.
Halewood started manufacturing the Jaguar X-Type in 2001, then went on to assemble the Land Rover LR2 / Freelander 2 before taking on production of the Evoque a year and a half ago. The facility reached the 300,000-unit milestone just last year as production moved to a 24-hour cycle for the first time in either marque's history.

Lister Knobbly returning to limited production for 60th anniversary

Lister Cars was one of the pedigree names of British racing from its founding in 1954 and then on and off until the early 2000s. The company combined its own lightweight chassis with engines from other manufacturers, many of them British (and especially from Jaguar). Last year, the name and the intellectual property were sold to a new company that planned to revive the brand. For Lister's 60th anniversary, it is building a new version of one of its most famous racecars, the 1958 Lister-Jaguar Knobbly. The 2014 Listers are built to the exact specifications of the original cars, and the aluminum bodies are hand-formed on the original jigs. It is offered in racing trim starting at 249,000 pounds ($409,618) and is certified for FIA historic racing. There's also a road-legal version starting at 259,000 pounds ($426,060), if you don't intend to race but do intend to drive. There are two engines available, just like in the original car. A reproduction Jaguar D-Type 3.8-liter inline-six with dry-sump lubrication pumps out 330 horsepower and 295 pound-feet of torque with a four-speed Jaguar gearbox. The other option is a 4.6-liter Chevy V8 with 315 hp and 290 lb-ft with a four-speed manual transmission. The Chevy-engined version also gets a slightly altered body with a higher hood to clear the engine. The first 2014 Listers will be delivered in the UK this April. Unlike many of these boutique sportscars, the racing version will be available to US buyers, but Lister won't federalize the road version due to the high cost. Scroll down to get all of the details about the revived racer. LISTER MOTOR COMPANY LAUNCHES NEW 60th ANNIVERSARY BROCHURE AS THE ORDER BOOKS BEGIN TO FILL New 60th Anniversary Lister Jaguar brochure now available 50 per cent of 2014 production already sold First cars to be delivered in April, 2014 Road-going variant to be offered at GBP259,000 + tax Race-going version to be GBP249,000 + tax. Following the recently announced purchase of the Lister Motor Company in May 2013, the company is delighted to announce that it has now published its 60thAnniversary Lister Jaguar brochure, which fully outlines the specifications for its fantastic recreation of the iconic Lister Jaguar 'Knobbly' racing car.