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Watch thieves dressed like ninjas hit dealership, steal $583,000 worth of Land Rovers

WAUKESHA, Wis. — A group of teenagers believed to be from the Chicago area broke into a luxury car dealership in Wisconsin and drove off with nine vehicles worth more than a half-million dollars, police said. Sunday's heist at a Jaguar-Land Rover dealership in Waukesha was captured on surveillance camera footage showing nine masked suspects filing into the dealership before each drives off in a car in the city about 19 miles (30.5 kilometers) west of Milwaukee. The video also shows one car being backed up and smashed through an overhead service door. Waukesha Police Capt. Dan Baumann said the suspects broke into the dealership about 6 a.m. Sunday, found where its car keys were stored and then activated those key fobs to find the cars they stole. “Nine subjects went out and throughout there looking for keys. One person finds where the keys were hidden and then starts to disseminate those to his friends,” Baumann told WISN-TV. The nine vehicles are valued at more than $583,000, he said. One suspect, a 17-year-old Chicago boy, was arrested Sunday in the southern Wisconsin community of Pleasant Prairie after the stolen vehicle he was driving crashed along Interstate 94 during a police pursuit. He was being held at the Waukesha County Jail on a $50,000 bond and faces burglary, theft and criminal damage to property charges, Baumann said. Police said Sunday that the suspects are believed to be “an organized crime group of teenagers from the Chicago area.” Baumann said Friday that all or most of the teen suspects are known to members of a police task force in southern Wisconsin and northern Illinois and police in that two-state region were still searching Friday for the eight other suspects. Six of the nine stolen vehicles have been recovered — four in Chicago, one in the Chicago suburb of Deerfield, and one in Wisconsin after the highway crash that led to the 17-year-old's arrest, he said.

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.

CMC to produce limited run of Callum's Jaguar Mark 2 [w/video]

We were a more than a little jealous when designer Ian Callum revealed his Jaguar Mark 2 restomod that he commissioned from Classic Motor Cars. It turns out that we weren't the only ones that dug it - the reaction was so great that CMC got Callum's permission to create a limited run of them for customers. Although, with prices quoted between £350,000 and £375,000 ($572,000 - $613,000), we doubt Ian needs to worry about seeing a copy of his creation pass him too soon.
"Within hours we had received calls from people all over the globe asking if they could buy one," said Peter Neumark, Chairman of CMC in the latest announcement. The reaction came as a surprise to Callum, who said he designed the car entirely to his own specifications and actually wasn't sure if people would like it.
Among Callum's many changes are new bumpers, wider front fenders with functional louvers and less chrome trim. Under the hood is a 4.3-liter six-cylinder fitted with two SU carbs putting out around 260 horsepower and 280 pound-feet of torque. It should be a much better driver too, with a completely re-engineered independent rear suspension, adjustable dampers at all four corners, improved brakes and a new rack and pinion steering system designed by CMC with electric assist.