1987 Jaguar Xj6 Base Sedan 4-door 4.2l on 2040-cars

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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.

Watch the Jaguar I-Pace live reveal

The day has finally come for the Jaguar I-Pace electric crossover to be revealed, and you can watch as the sheet is pulled off the company's first full EV. The reveal starts at 1:00 p.m. ET, and can be viewed in the embedded video above. The I-Pace was first revealed in concept form in Nov. 2016. Jaguar claimed it had a range of 220 miles, 400 horsepower, and 516 pound-feet of torque. Jaguar has also promised very fast charging at 100kW DC chargers. Apparently it can regain 80% of its charge in 45 minutes at such a charger. Jaguar has claimed this charging capability for the production model, but we have yet to see if the power and range numbers held up. Jaguar will also run a one-make I-Pace race series alongside Formula E. We'll see if any further announcements are made about the racing version of the car and the series. Related Video:

Jaguar has something special planned for Goodwood

It's been barely a week since JLR announced its new Special Operations division, dedicated to creating limited-run halo cars and custom creations for both the Jaguar and Land Rover brands. Now the British automaker has confirmed the debut of the division's first project.
We don't know what it is, exactly, that Jaguar will be bringing to the Goodwood Festival of Speed later this week, but we bet it'll be exciting. If we were the betting kind, we'd put our money on some kind of hot-rod F-Type, but we'll just have to wait and see.
Alongside whatever JLR Special Operations has got cooking, Coventry will also be bringing the new F-Type R Coupe and XFR-S Sportbrake to run up the hill alongside a whole slew of classic and racing Jaguars, including a pair of D-Types, a Group 44 E-Type, a Group A XJS and the reunion of XJR-9 and Andy Wallace that last saw each other on the top step of the podium at Le Mans in 1988.