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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.

All of the Bond cars of 'No Time To Die' (caution for spoilers)

Note: The following overview of the cars in No Time To Die contains spoilers. Read at your own risk, or come back after seeing the film to make sure you caught everything.   No Time To Die picks up right around where Spectre leaves us. James Bond (Daniel Craig) and Madeleine Swann (Lea Seydoux) are driving along in Bond’s restored and iconic DB5 in Matera, Italy. Things donÂ’t stay all that cheery for long in picturesque Matera, though. As is tradition in Bond films, the first car chase hits us with an explosion of action in what's a super-long opening scene. Fourth-gen Maserati Quattroporte: The baddies in the beginning are driving a Maserati and chasing after Bond in the DB5. Specifically, theyÂ’re in a fourth-gen Quattroporte, which feels right for a chase scene in Italy. Its squared-off looks are mean enough, and its Italian growl is a good background soundtrack to the DB5Â’s inline-six. In addition to the Quattroporte, the chase scene in Matera is home to a couple of the best stunts of the entire movie, including the arch jump done with a Triumph motorcycle seen in trailers — Matera is extremely hilly. Eventually, Bond and Swann find themselves in the DB5 again together, which is where the famous gatling gun scene from the trailer commences, but not before the bulletproof windows and body of the DB5 are thoroughly tested. RIP to the first-gen Range Rover Classics and Jaguar XFs that joined the Maserati in pursuit of Bond (here's a list of other Bond cars over the years). As the DB5 escape scene concludes, we catch a glimpse of what appears to be a Ferrari from the 1970s. However, the view was far enough away that weÂ’ll need a second look to be sure of the exact model. Land Rover Series III: Next time we see Bond, heÂ’s fishing in Jamaica and driving around a blue Land Rover Series III. ItÂ’s yet another of the many Land Rover products featured throughout the film, and unlike most of BondÂ’s Aston Martins, this one doesnÂ’t seem to have any unique features. The other intriguing vehicle out of Jamaica? An old Chevrolet Bel-Air expertly and effectively piloted by Bond newcomer, Ana de Armas. Next up, we get a few shots of the new and still-not-for-sale Aston Martin Valhalla mid-engine supercar (also seen in trailers). BondÂ’s old boss M is in the scene which appears to have been shot in some secret wind tunnel of sorts. Much to our dismay, nobody ends up driving the Valhalla in the film. Could it be a teaser for what the next 007Â’s car is?

Queen Elizabeth II was a longtime automotive enthusiast

Since driver's licenses, license plates, and passports were issued in her own name, Queen Elizabeth II didn't need them to drive and travel. She started combining the two just before she turned 19, joining the Auxiliary Territorial Service (ATS) transport division in 1945 for vehicle mechanic training. She wanted to help the British effort during World War II and would drive an ambulance — one that, theoretically, she could also fix if it broke down. The war ended before she graduated as an Honorary Junior Commander, the other ATS members dubbing her Princess Auto Mechanic. We donÂ’t know if she got under the hoods of the many official state vehicles and the far more numerous unofficial fleet in the royal garages, but she was still driving herself around England as late as this year. Here is a tiny selection of royal conveyances used during her 70-year reign. Gold State Coach (1762) True, she never drove this one, but a tour of every royal garage should start with the coach. King George III commissioned Samuel Butler to build it in 1760. Butler spent two years on the gilded carriage 24 feet long and more than 12 feet high. The quarters are suspended from the frame by leather straps, so occupants get tossed about even during a slow stroll, which is as fast as the eight Windsor Gray horses can pull it. It wasnÂ’t until the 1900s that King George VI rubberized the wooden wheels. Word is the queen didnÂ’t like it.   1953 Land Rover Series 1 Land Rover gave Queen ElizabethÂ’s father, King George VI, the 100th example of the 80 Series off the line in 1948. She picked up the Landie habit for herself five years later, when a 1953 Series 1 with a custom 86-inch wheelbase was part of the fleet used for her six-month tour of the Commonwealth in 1953 and 1954. That Land Rover became Ceremonial Vehicle State IV. The models above were built in Australia in 1958 as near copies of the Commonwealth tour vehicle, when Australia decided it wanted six identical versions for royal service. ItÂ’s thought the royal family went through around 30 Land Rover Series cars and Defenders since then, and many of the most common photos of her have her posing in or near one, especially the 2002 Defender built just for her. The royal family isnÂ’t finished with them, either: A current Defender 110 served as a luggage hauler for family members headed to Balmoral Castle during the queenÂ’s final days.