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Cargo ship carrying 1,200 Jaguars and Land Rovers deliberately run aground [w/video]

A cargo ship carrying a load of new cars out of Southampton has run aground in the English Channel in between England and the Isle of Wight. The vessel apparently suffered some sort of failure just 45 minutes after leaving port that caused it to list heavily to the starboard side before the crew deliberately beached it on Bramble Bank to prevent the ship from capsizing altogether. The vessel, called the Hoegh Osaka, is a 590-foot car carrier weighing some 57,000 tons and registered in Singapore. Although several automakers (including Honda and Bentley) were reportedly looking into whether they had cars on board, the vessel is said to have been filled to approximately one-third its capacity, with 1,400 vehicles on board – including 1,200 Jaguar and Land Rover vehicles, 65 Mini models and one Rolls-Royce Wraith. 70 to 80 pieces of construction equipment were also said to be on board. The Hoegh Osaka was en route from the southern British port of Southampton to Bremerhaven, Germany. Fortunately, no major injuries have been reported. The crew was mostly airlifted by helicopter off of the beached ship, with two crew members evacuated by lifeboat. One crew member reportedly jumped over 25 feet off the ship into the water before being immediately retrieved by rescue workers. According to the Daily Mail, two crew members were treated for non-life-threatening injuries, including a broken leg. It may take several days, if not longer, to extract the vessel from the sand bank and ascertain the damage to the ship and its cargo. An early attempt to free the ship with tugboats failed, meaning that the Maritime and Coastguard Agency may have to wait until more favorable high tides to try again before towing the ship back into the port. Bramble Bank, where the vessel was run aground, is a well-known obstacle to maritime navigators. The Queen Elizabeth 2 ran aground there in November 2008 with 1,700 passengers on board, but was quickly freed by four tugboats and was able to continue on its way. Two local yacht clubs also play a cricket match there every year at low tide. The vessel's operator, Hoegh Autoliners, praised the skill and quick thinking of the crew in acting to prevent the ship's capsizing by running her aground on the soft, sandy shoal. Watch the clip below for aerial footage of the beached ship, courtesy of the BBC. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

Jaguar Land Rover names ousted Renault boss as new CEO

LONDON — Jaguar Land Rover (JLR) has picked ousted Renault boss Thierry Bollore as its next chief executive, with a mission to return Britain's biggest carmaker to profit after a big hit from the COVID-19 pandemic. Bollore took over at Renault in January 2019 after the fall of Carlos Ghosn, but was always viewed as close to the French carmaker's longtime boss and was pushed out in October when the company was looking for a fresh start. Bollore will take over at JLR on Sept. 10, replacing Ralf Speth, whose tenure ends after more than 10 years. "It will be my privilege to lead this fantastic company through what continues to be the most testing time of our generation," Bollore said in a statement on Tuesday. JLR was hit this year first by disruption to sales in China and then by lockdowns across Europe and North America as the COVID-19 outbreak spread around the globe. In 2019, it cut jobs to address tumbling diesel sales, which helped it return to profit. But as the pandemic struck, it slumped to a pretax loss of 422 million pounds ($545 million) for the year ended March 31, 2020. The company has already taken steps to tackle the crisis, including agreeing to a loan facility of around $700 million with lenders in China and further staff reductions. JLR is also in talks with the British government over potential support, according to media reports. Bollore takes over a business that built just over 500,000 cars in 2019/20. He faces a number of tasks, including how to handle the Jaguar brand, which underperforms the Land Rover marque, how quickly to electrify its lineup and a potential hit from Brexit if trade barriers are imposed. JLR has a partnership with BMW on electrification, and parent company Tata Motors recently recommitted to the company. "Tata Group recognizes and values Jaguar Land Rover's future potential highly," said JLR Chairman Natarajan Chandrasekaran earlier this month. "That is why this company is central to our global automotive presence – a presence that we intend to develop for years to come." Related Video:         (Additional reporting by Chris Thomas in Bengaluru and Gilles Guillaume in Paris; editing by Jason Neely and Mark Potter)