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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.

Entry-level Jaguar X-Type successor due in 2015, crossover a year later

Jaguar's future product plans keep on slipping, slipping, slipping onto the internet, and the latest on it's entry-level luxury challenger is a 2015 due date. According to Automobile magazine, "most significant game-changer from Coventry" will be arriving on the same PLA platform that supports the Jaguar XJ and 2013 Range Rover. Kacher says the small sedan has already got the green light as codename X760, and will bow first as a four-door sedan, then as a crossover a year later.
This puts a date to a recent Autocar report that a small sedan and crossover were in the works. We've been getting reports of and concepts for a successor to the X-Type ever since Tata bought Jaguar - like the Bertone B99 concept last year, and this enthusiast concept more recently - since everyone knows it's what has to happen for "a new Jaguar" to succeed. We're looking forward to seeing what the English maker comes up with; if it remains true to form, it could be one of the few luxury competitors whose distinct model each look, well, truly distinct.

Which is hotter, Lana Del Rey or the Jaguar F-Type?

Lana Del Rey's "Burning Desire" video, the first musical collaboration between Jaguar and its hired songstress, is half music video, half long-form lifestyle commercial for the 2014 F-Type. If you like Del Rey channeling glamorous fifties fame as she lays down vocals of sensuous, languid dolor over images of black-and-white yesteryears, you'll like this song off of her new EP, Paradise.
We think the appearance of a red and brand-new Jaguar, though, is incongruous - either Del Rey or Jaguar is the anachronism, take your pic. That's not to say it's not beautiful, however, so enjoy the combination in the video below.