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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.

Watch this bad parker get what's coming to him

If you're lucky enough to have a nice vehicle, do your fellow gearheads a favor and don't park like a clown. Seriously. Not only will you anger everyone who is trying to find a place to park, but your nice car is a billboard reinforcing the stereotype that car people are self-important and inconsiderate.
Take this gentleman for example. He has a Jaguar XK, and understandably wants to take care of it. Rather than parking it far, far away from any other cars and getting a bit of exercise by walking to his building, he takes up two spots (albeit barely) close to the structure. From the cameraman's narration, we can tell his coworkers are less than thrilled about his inability to stay between the lines.
Naturally, they wanted to teach him a lesson, so they parked a bigger vehicle as close to his driver's door as possible. Mr. XK's attempts to enter his vehicle are rather amusing, culminating in his climbing through the passenger side and scooching over to the driver's seat. While we can debate this sort of treatment all day long, it was effective. The video includes a follow up at the end showing where the XK driver parked the next day, and as you might guess, it wasn't in the same spot.

2014 Jaguar XKR-S GT claws at the driving enthusiast in us

If you still find yourself coming up a few seconds short per lap in your Jaguar XKR-S, the British automaker has introduced the XKR-S GT - a cat specifically tuned for the racing circuit - at the New York Auto Show.
While Jaguar has left the supercharged 5.0-liter V8 unchanged (550 horsepower and 502 pound-feet of torque), it has tuned and tweaked all the items that really make cars go quicker on the track (e.g. suspension, aerodynamics, contact patches, brakes). A once-over reveals upgraded go-fast goodies including a new ventilated hood, extended wheel arch spats, reworked front end with a bespoke front splitter and canards, a massive rear wing, height-adjustable adaptive dampers, active exhaust, carbon-ceramic brakes and sticky Pirelli Corsa tires. Try as we might, the driver in us can't find anything we not to like about this enthusiast-tuned coupe.
Of course all of the upgraded XK goodness doesn't come easy, or cheap. Jaguar will limit North American sales to just 30 units and price each at $174,000. Learn all the juicy details in the official press release below.