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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.

Jaguar sculpture by RCA design students is a minimal beauty

With its well-deserved reputation for high design, it is not particularly surprising to see Jaguar reaching outside of the automotive realm for future inspiration. To that end, the British automaker recently enlisted the talents of students at the Royal College of Art to create a piece of forward-looking, automotive-inspired sculpture.
The result of this project can be seen above; a sculpture created by RCA students Claire Miller and Ewan Gallimore, and unveiled to a small audience to kick off London's Clerkenwell Design Week. The spare and rather elegant form created by the talented pair absolutely harkens back to coupes from Jaguar's past as well as its present (read: F-Type) without aping any one model particularly.
In a press release, the artists had this to say about the work: "Our form relates to the Jaguar brand through its sculptural volumes, bespoke materials and visual lightness. These elements helped us to create a sculpture that aimed to display a seamless transition between interior and exterior space." Get a better look at the Jaguar artwork in the gallery above, or read through the press release, which follows.

Jaguar producing short film starring Damian Lewis from Homeland [w/video]

Jaguar is working up a short film to coincide with the US debut of the company's new F-Type. Desire will feature actor Damian Lewis in the lead role opposite Jordi Molla as the main villain in the story. The whole of the action will take place against the picturesque backdrop of the Chilean desert with filming starting early next month. According to Jaguar, the story will follow Lewis as he plays Clark, a man who delivers cars for living. Things get exciting when he crosses paths with a young woman played by Shannyn Sossamon.
With music by Lana Del Rey and some serious production value, Desire sounds keen to take its place among great automotive advertising short films like the BMW Driver series. Jaguar has released a quick teaser, which you can check out by heading over to the F-Type site. You may also take a peek at the full press release below for more information. Expect to see the film debut early next year.