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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

James Bond Spectre villain to drive never-was Jaguar C-X75 supercar

James Bond is used to being outgunned. Often working alone, 007 has developed a knack for taking out major criminal syndicates and terrorists despite this routine disadvantage. But in his latest film, Spectre, we suspect Mr. Bond will have met his match in at least one regard – the car being driven by his nemesis, Franz Oberhauser, played by Christoph Waltz. For the 24th Bond flick, Spectre, the chief baddie will reportedly be driving the oft-fancied Jaguar C-X75 Concept car, which will star opposite of the hero's new Aston Martin DB10. As you'll recall, Jaguar flirted with actually producing the C-X75 before calling it off just over two years ago. According to Autocar, which spoke to people involved in the film's production, Herr Oberhauser's C-X75 will be powered by Jaguar Land Rover's popular 5.0-liter, supercharged V8, rather than its original complex hybrid powertrain (which relied on four electric motors recharged by a pair of diesel-fueled micro gas turbines). Jaguar would not confirm its role in the upcoming film, although Autocar has pieced together a few powerful signs that the company will be donating the services of its concept to the new flick. First, supplying the villain's car for the latest Bond film fits in nicely with the company's "Good to be Bad" campaign, despite the fact that the villain, in this instance, is Austrian, rather than British. Moreover, Autocar points to Aston's use of the tagline "It's good to be Bond" since the reveal of the new DB10, as an indication that the Jag will be opposing its former corporate cousin in Spectre.

Jaguar XF Sportbrake headed for the door? Maybe not [UPDATE]

Update: A Jaguar spokesperson reached out to put the brakes on the XF wagon's demise, writing, "Jaguar Land Rover North America President and CEO Joe Eberhardt did not discuss the status of the current Jaguar XF Sportbrake, which is currently in the Jaguar lineup — making up 20 percent of XF sales. The remark was that in the long term, features and types of vehicles that are less popular would likely not make it into the United States. The current Jaguar XF Sportbrake remains in the lineup and is available at retailers and for ordering, including for the upcoming 2020 Model Year which should be announced soon. This should be good news for wagon enthusiasts." Indeed. Previous story appears below: The Jaguar XF Sportbrake only just got here, hauling its first load of mettwurst and Coca-Cola to a junior varsity soccer tailgate party in 2017. According to a report in The Detroit Bureau, the comely wagon could be on the way out later this year thanks to two massive turnaround campaigns. The outlet interviewed Jaguar USA CEO Joe Eberhardt, who conveyed the message that only the strongest products will live. That means no more manual transmissions after this year, simplified trims, and easing up on diesels. It also means, in TDB's words, "you'll no longer see wagons ... in the U.S." If this ends up true, it would be a shame. Wagon sales were up 29 percent in the U.S. last year. We just included the XF Sportbrake as one of the potential reasons Audi teased its Twitter fans about the return of Avants. And if there's anyone who doesn't like the XF Sportbrake, we haven't met them. Our review said the slinky wagon "Puts SUV appeal on ice." Jalopnik called it " The best-kept sleeper wagon secret you can buy." Road & Track labeled it " A high five to America." High fives and good secrets don't pay the rent, though. The push for global sustainability after last year's shocking Q4 loss at Jaguar Land Rover has compelled two turnaround campaigns called "Charge" and "Accelerate." One focuses on immediate cost matters, the other takes the long strategic view. Both need to incorporate the fact that Jaguar's crossovers, the F-Pace and E-Pace, represent 70 percent of Jaguar sales. On that matter, Eberhardt said, "I don't want to say the speed of change took us by surprise, but they were too quick for us to react to immediately.