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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.

2016 Jaguar XF to hit 60 mph in 5 seconds, lead with cutting-edge infotainment

Since the second-gen XF's unveiling last week in an epic publicity stunt over London's Canary Wharf, the details on the new four-door have been rather scarce. That changes now, with the Jaguar revealing just about everything we could hope to know... aside from the price and fuel economy. As we covered in our original post, Jaguar has trimmed the weight for both rear- and all-wheel-drive variants by 132 pounds and 265 lbs, respectively. That means that, regardless of engine output, the two-wheel-drive model tips the scales at just 3,770 lbs, while the AWD XF slips in at 3,880. This was mainly done by way of aluminum construction – the 13th element constitutes 75 percent of the XF's structure – although ultra-high-strength steel also plays a role. Jag claims these elements not only reduce weight – which is almost perfectly distributed, with a "near" fifty-fifty ratio – but increases torsional rigidity by 28 percent. The new XF should be just as agile as the brand's namesake, thanks not only to the reduced weight and stiffer structure, but also to a new chain-driven all-wheel-drive system that's both lighter and more efficient than a traditional version. Impressive though that may be, the brand's Intelligent Driveline Dynamics system is the standout here. IDD manages the torque split, diverting power to the rear axle until it predicts, through factors like yaw rate, steering angle and lateral acceleration, when torque should be shifted to the front wheels. Moreover, the AWD system features Adaptive Surface Response, which takes the place of the old XF's winter driving mode. It monitors road conditions, modifying the behavior of the sedan's systems as needed. The second-gen sedan comes to the US in 340-horsepower and 380-hp variants – torque remains fixed at 332 pound-feet – courtesy of Jaguar Land Rover's familiar 3.0-liter, supercharged V6. The new XF's straight-line performance should be just as entertaining as it sounds, too. The rear-drive, 340-hp XF will hit 60 in 5.2 seconds, while the rest of the range can get there in 5.0. That marks a significant reduction compared to the first-gen V6 models, which used their 340 hp to sprint to 60 in a more leisurely 5.7 to 6.1 seconds. Regardless of output, the rear-drive XF will outrun both the BMW 535i and Mercedes-Benz E350 (we're still waiting on performance figures for the 329-hp E400, so Jag's RWD dominance may not last), which take 5.5 seconds and 6.5 seconds, respectively.

Jaguar F-Type Coupe unveiled with range-topping R model

This is the Jaguar F-Type Coupe, the long-awaited hardtop counterpart to the F-Type roadster we tested earlier this year. Besides adding a roof, it shuffles up the engine range that we saw on the Convertible model, and in two of three cases, it cuts the cost of entry rather quite nicely (a happy contradiction to earlier reports).
The big change is that the F-Type Coupe does away with the Convertible's V8S trim (although the 495-horsepower variant will still be available in the droptop), and adds an even more potent letter to the top of the range. The $99,000 F-Type R Coupe is the latest member of Jaguar's R Performance line, and despite being down a letter on the XFR-S and XKR-S, it features the same 5.0-liter, 550-hp supercharged V8. With all that power on tap, the F-Type R will sprint to 60 mph in just 4.0 seconds (if it doesn't break into the 3s in independent testing, we'll be shocked) and on to a top speed of 186 miles per hour. If you need to get to freeway speeds quickly, the F-Type R will also go from 50 to 75 mph in just 2.4 seconds.
As the top tier model, the F-Type R is loaded down with performance-oriented tech. The suspension features adaptive dynamics that manage the car's body movements and adjust accordingly, while the suspension itself is 4.3-percent stiffer in front and 3.7-percent tighter in the back than the F-Type V8S Convertible. Drivers can dial up an even stiffer suspension setting in Dynamic Mode, which will also tweak the steering, the shift schedule of the eight-speed SportShift automatic and the throttle response of that brawny engine.