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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.

Look for Jaguar C-X75 in your new James Bond Scalextric set

Scalextric, the slot-car racing set, has produced sets themed around James Bond films for years. You can get the Range Rover from Skyfall, the Alfa Romeo from Quantum of Solace, the DBS from Casino Royale, and almost all of the sets include the Aston Martin DB5; there was a limited-edition three-car series of DB5s around the movie Goldeneye, back in 1995. They'll be doing it again for the coming Spectre film, Pocket-lint.com saying that the set will come later this year and looks like it will include the Jaguar C-X75. That treat, as well as the DB10, haven't been completed for the toy set yet because they haven't been finalized for the film. A new DB5 run will be available for the garage, limited to 4,500 units and featuring a manually raised rear shield and an automatic ejector seat triggered if the car bumps a bollard along the track during feisty driving. The expected price is 100 pounds ($152 US), which includes track, and it should be out sometime before the movie arrives in theaters in November. Featured Gallery James Bond 'Spectre' Scalextric set News Source: Pocket-lintImage Credit: Pocket-lint Celebrities Toys/Games TV/Movies Aston Martin Jaguar spectre jaguar c-x75 aston martin db10 scalextric

Playmate of the Year Raquel Pomplun gets a Jaguar F-Type

The Jaguar F-Type is slinking its way into vastly divergent corners of the celebrity world. Lana del Rey is its songstress, Englishman-playing-American-terrorist Damien Lewis lead its cinematic debut in Desire, San Francisco quarterback Colin Kaepernick gets the athletic endorsement, and now it's just been driven behind the "Adults Only" doors at the Playboy Mansion: Raquel Pomplun was gifted a year's use of an F-Type for being named 2013 Playmate of the Year.
There's a video below of Pomplun and her F-Type getting 'camera ready,' and a press release below that in case you want to, you know, "read the article."