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Jaguar Land Rover undergoes $3.2 billion turnaround plan as sales slump

MUMBAI — India's Tata Motors on Wednesday announced a turnaround plan for its luxury car unit Jaguar Land Rover, which has been hit hard by trade tensions between China and the U.S., low demand for diesel cars in Europe and worries over Brexit. Under "Project Charge," Tata Motors said it plans to cut costs and improve cash flows at Jaguar Land Rover (JLR) by 2.5 billion pounds ($3.2 billion) over 18 months. JLR also plans to launch several new vehicles, including the Jaguar I-Pace and the new Range Rover Defender over the next few years and will offer a hybrid or full-electric version of all its models by 2020. "Together with our ongoing product offensive and calibrated investment plans, these efforts will lay the foundations for long-term sustainable growth," JLR CEO Ralf Speth said after Tata Motors reported a quarterly loss. JLR has trimmed its pre-tax profit expectations for the current fiscal year ending March 31, 2019, and expects to break even, Speth said, versus an earlier target of profit growth. As part of the turnaround plan, JLR will first focus on cash-saving "quick wins" like reducing non-product investments and speeding up asset sales, Tata Motors said in an investor presentation. In the near term it will improve efficiency in areas including purchasing and material cost, manufacturing, logistics and people, and will focus on strategic and non-core asset sales. JLR has already reduced the number of production days at its UK plants in Castle Bromwich and Solihull. The company said in its presentation it has saved 300 million pounds since it initiated the turnaround plan six weeks ago and is working on 500 ideas for the future. Tata Motors reported a loss of 10.49 billion rupees ($141.9 million) for the July-September quarter, compared with a profit of 24.83 billion rupees in the year-ago period. That was worse than the estimate of a loss of 2.40 billion rupees, according to Refinitiv data. JLR reported a loss of 101 million pounds during the quarter and its margin on earnings before interest, tax, depreciation and amortization (EBITDA) fell 130 basis points to 9.9 percent. Retail sales of its Jaguar sedans and Land Rover sport utility vehicles (SUVs) fell 13.2 percent to about 130,000 units, hurt particularly by tariff changes in China and escalating trade tensions. Demand in China remained muted even after the country cut import tariffs for cars and car parts to 15 percent for most vehicles from 25 percent from July.

Jaguar releases C-X75 concept build story

If you want to know what was going through the minds of decisionmakers at Jaguar when the company decided to build the batty C-X75 Concept, look no further than the quick video after the jump. Jaguar set about building a car with the performance of a Bugatti Veyron, the electric range of a Chevrolet Volt and the emissions of a Toyota Prius, and they turned to a legendary engineering firm to help make it happen. Williams, the same crew behind Williams F1, helped Jaguar stitch the concept car together, and the result is unlike anything we've seen before.
The twin-charged 1.6-liter four-cylinder mounted amidship is paired with an electric motor at each wheel for a combined output of over 850 horsepower. And, since the whole chassis is hewn from carbon fiber, a production version would've been light enough to give machines like the McLaren P1 and Ferrari LaFerrari a run for their money. Shame they apparently couldn't make the business case work. Watch the concept build story in the video below for yourself.

Watch new Jaguar XF perform a literal high-wire act

Coming out with a new luxury sedan can be a truly daunting prospect. Make it too edgy and you'll risk disenfranchising what can often be a rather conservative customer base. Make it too conservative and you may fail to attract enough new customers or generate enough interest to make the endeavor worthwhile. Whether Jaguar succeeded in walking that thin line with the new XF is a matter of personal taste, blending as it does elements from the smaller XE and the outgoing XF it replaces. But in launching the new model, Jaguar didn't just pull of a figurative high-wire act – it did quite a literal one. To drum up support for its newest debut, Jaguar undertook the stunt depicted in the video above, stringing a pair of carbon-fiber cables some 60 feet above the River Thames in London. With some guide wires and counterbalance weights to keep it all in check, and a motion-picture stunt crew orchestrating it all, the new XF drove over 780 feet from one bank of the river to the other, setting a new world record in the process. Instead of thinking too hard about the whys (seriously, though... why?) and hows, we suggest you just watch the video above. Related Video: