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Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

2018 Jaguar XJ stars in 'Game of Drones'

Looking for a fun way to put the its 2018 XJ in the spotlight, Jaguar turned to a fresh form of racing. The automaker placed three of the long-wheelbase XJL models in a studio, and surrounded them with illuminated, door-shaped gates. Then Jaguar brought in a pair of professional drone racers to compete in the glowing circuit, which includes pass-through of the rear of the XJL cabins. The drone pilots, donning VR headsets, sat in the rear of the 575-horsepower version of the XJL, the Jaguar XJR575, and launched the drones from the trunk of the car. They raced the drones through the gates and through the cars at speeds of up to 60 miles per hour. "The course was a great test, but the fact we were able to go at such speeds proves how much space the doors of the Jaguar XJL gave us," said the winning drone pilot, Brett Collis. "Despite having to fly through the cabin, we were still pushing the drones to their top speeds." The "Game of Drones," as Jaguar dubbed the race, took place at Alexandra Palace in London, but the automaker is bringing similar experiences to more locations. Jaguar plans to go on an "Art of Performance Tour," where it will bring drone and Smart Cone driving challenges to the public, free of charge.

Watch four hours of fantastic machinery at Le Mans Classic 2016

The 24 Hours of Le Mans came and went, but it wasn't the end of the automotive activities at Circuit de la Sarthe. This past weekend, the venerable racetrack was host to the 2016 Le Mans Classic, in which seven decades of vintage racecars once again competed for glory. The event started with qualifying on Friday, July 8, and racing on the following Saturday and Sunday. Six "grids" of cars each included a different historic racing era, including the early days from 1923 to 1939, as well as that famous period from 1966 to 1971 that featured the all-conquering Ford GT40. The wide range of eligibility also permitted some unusual machines to show up, such as a 1950 Cadillac Series 61 and a 1974 Dodge Charger. This year also marked the debut of the Group C class for more recent Le Mans racers from 1982 to 1993. The 1991 Le Mans-winning Mazda 787B was not present, but one of the Peugeot 905 race cars that gave the marque a remarkable 1-2-3 finish at the 1993 Le Mans came back for the event. The Le Mans Classic also featured the Jaguar Classic Challenge just for cars made by the feline automaker, and the race attracted a bit of human star power. Chris Harris of Top Gear participated in the marque-specific race while behind the wheel of a new continuation Lightweight E-Type. And although the event happened over the weekend, you can catch most of the action via the recorded live stream above. It features a full four hours of vintage racing with commentary in both French and English. It's a great chance to see one of the best combinations of classic cars and historic venues out there. Related Video: Related Gallery Jaguar Continuation Lightweight E-Type View 46 Photos Image Credit: Le Mans Classic Jaguar Automotive History Classics Videos France chris harris vintage racing le mans classic circuit de la sarthe