1971 Jaguar E-type on 2040-cars

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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 will use recycled waste to make parts for future models

Jaguar-Land Rover's future models will be partially made of junk. The company announced it's working on integrating a recycled material named Econyl into its manufacturing process in the coming years. Created in 2011 by Italy-based Aquafil, Econyl is a fiber made with a blend of recycled industrial plastics, fabric offcuts sourced from clothing manufacturers, and discarded fishing nets aimlessly floating around the ocean. It's more eco-friendly to produce than oil-based fibers, according to Jaguar, and it helps clean up the planet. Jaguar and Land Rover will use Econyl to make floor mats in the not-too-distant future. Neither company listed the models they'll put the material in, but it's reasonable to assume recycled floor mats will be available in the next-generation XJ, which will be electric, and the next-generation Range Rover. Both will be released in 2021. Eco-friendly materials are slowly but surely spreading across the luxury car segment. Jaguar already offers the I-Pace with a Kvadrat upholstery that combines regular wool and up to 53 recycled plastic bottles per car. Audi's fourth-generation A3 is optionally available with an upholstery made largely using recycled plastic bottles, and Volvo estimates at least 25% of the plastics in its cars will be recycled starting in 2025. Environmentalist organizations are putting an increasing amount of pressure on carmakers to deliver so-called vegan interiors. A group called EarthSight recently accused several companies (including Jaguar-Land Rover and BMW) of using leather from cattle raised on illegally logged lands in Paraguay. Representatives for the British company stressed they found no evidence to verify EarthSight's claims. Related Video:

The Jaguar E-Type is 'the most beautiful car ever made' and Omaze is giving one away

Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze. We routinely argue over which car is best here at Autoblog (if you don’t believe me check out some of our comparison tests), and while looks are subjective, when someone like Enzo Ferrari calls a vehicle “the most beautiful car ever made” itÂ’s hard to argue against it. The Series 1 Jaguar E-Type is indeed undeniably gorgeous, as well as iconic, and Omaze is giving away an immaculately restored 1963 example.  Win a 1963 Jaguar XKE and $20,000 - Enter at Omaze This E-Type comes with an upgraded five-speed manual transmission, “its original wire-spoke wheels, luxurious leather interior and signature 3.8-liter inline-six-cylinder engine,” which makes 265 horsepower. That is modest by todayÂ’s standards but certainly not the case nearly 60 years ago. Its gorgeous black exterior and caramel leather interior will be sure to turn heads no matter what street youÂ’re driving down and with the $20,000 in cash included, the total value of this prize is nearly a quarter million dollars. YouÂ’re probably asking yourself, what does it take to win? First of all, according to Omaze, "no donation or payment is necessary to enter or win this sweepstakes." $10 will get you 100 entries in this giveaway, while $50 will get you 1,000 entries and $100 will get you 2,000 entries. The donations themselves benefit The PrinceÂ’s Trust, which, according to Omaze, “helps young people develop the confidence and skills they need to realize their ambitions. Founded by The Prince of Wales in 1976, the charity supports youth who are unemployed, struggling at school and at risk of exclusion. Their programming aims to give vulnerable young people the practical and financial support they need to stabilize their lives, helping develop self-esteem and skills for work. This summer The PrinceÂ’s Trust marked helping 1 million young people, and is committed to supporting a further million over the next decade.” If you want this opportunity to own this nearly sixty-year old piece of iconic automotive history, enter here. The deadline to enter is May 27, 2021, at 11:59 p.m. Pacific.