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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.

2017 Jaguar electric SUV to draw stylistically from C-X75

Jaguar is gearing up to launch its first all-electric model. And given the direction the industry is going – to say nothing of previous reports – it should come as little surprise that it'll be an SUV. And though details are few and far between at this point, some information is beginning to surface. According to British publication Autocar, the forthcoming electric crossover will draw its stylistic inspiration from the C-X75 concept. For those who may not recall (or haven't seen the new Bond flick), the C-X75 was Jaguar's idea for a hybrid hypercar to compete with the likes of the McLaren P1, Porsche 918 Spyder, and LaFerrari. After initial plans for a turbine powertrain were scrapped in favor of a small twin-charged four-cylinder hybrid, plans for production were ultimately shelved. But the vehicle resurfaced for a starring role in the new 007 film Spectre. If the decision to put a defunct concept in a new movie struck you as odd, reports of the electric crossover's design direction may cast it in new light. By putting the C-X75's design in the public spotlight, Jaguar Land Rover could be preparing us for the SUV's arrival. But then that could prove entirely speculative at this point. The model is set to slot in, size-wise, beneath the new F-Pace, and join a new wave of electric crossovers coming to market. The Tesla Model X will be first when it launches next year, and Audi is expected to launch its Q6 E-Tron Quattro in 2018. The Jaguar could split the difference and surface as soon as 2017. Volvo is also tipped to be preparing an electric crossover based on the XC90 to follow in 2019 as well. It may be too early to speculate on the electric powertrain that will motivate the new Jaguar, tipped to be dubbed E-Pace. However reports that parent company Tata is developing lightweight electric in-wheel hub motors could give us an idea of the direction in which Jaguar could head. Expect it to borrow its aluminum platform from the XE and F-Pace, with production potentially to be undertaken by Magna Steyr in Austria. Of course, the E-Pace won't be the company's only EV. It has several prototypes in the works, and we can expect it to roll out additional production models in the coming year.

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."