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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 Activity Key | 2017 Autoblog Technology of the Year Finalist

In principle, the Jaguar Activity Key is a good idea. It's simple, useful, and relatively inexpensive. Unfortunately, in our testing it was less than reliable. Here's how it's supposed to work: To lock the car, leave your keys and fobs inside the vehicle, and strap the band on your wrist. Then, within 30 seconds, place your banded wrist against the letter J of the Jaguar script on the back tailgate. When you come back, you can unlock the vehicle by pressing the tailgate opening button, then, again within 30 seconds, placing the Activity Key band against the J of the Jaguar script. We chose the Jaguar Activity Key as a finalist for our 2017 Tech of the Year award because it's an uncomplicated device with lots of potential customers. Jaguar says the wristband is "robust and fully waterproof." Swimmers, surfers, kayakers, hikers, and even couples out for a sunny-day picnic could use a feature like this wristband key. Plus, wearables are pretty new as a category in general, and even more so in the automotive space. We didn't go skydiving with it or anything (an activity Jaguar cites as a potential usage case), but we did dunk it in water with no ill effects. While it all sounds good in theory, actually getting the Activity Key to work effectively was unexpectedly difficult, especially when the cameras were rolling. We tried varying the timing between closing the door and using the wristband, as well as between using the tailgate button and the wristband. It worked about half the time, regardless of our process or who was wearing the wristband. Whether our issues with the wristband were due to interference, new-technology teething problems, or just electrical gremlins, the idea of purposely locking the keys inside an automobile without having a foolproof way to unlock it gives us reason to pause. The Activity Key is a $400 standalone option on the 2017 Jaguar F-Pace, but only on Prestige, R-Sport and S models. The least expensive F-Pace with Activity Key costs $51,095.

Say goodbye to Jaguar's vestigial oval grille

Jaguar has been on a campaign to replace any and all retro cues with modern ones. Just look at the current XJ and the one it replaced, or the XF and the S-Type that came before it and you'll know what we mean. The one remnant is the XK and its oval grille, in and of itself a throwback to Jags of old (which started to look more like a certain Star Wars alien in above-pictured XKR-S form). But don't expect it to hang around.
Newer Jaguars have been ditching the oval aperture for a more squared-off one, and the next XK will have to fall in line. But don't expect that to be the only change in store for the next-generation Jaguar coupe and convertible.
With the new F-Type now holding the more enthusiast-oriented ground, the next XK is expected to grow bigger, softer and more luxurious. That will likely mean a more commodious back seat as well, though that shouldn't be hard to do considering the lack of space in the back of the current model...