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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)

Jaguar axes supercar plans, focuses on luxury EVs

Jaguar is abandoning plans to replace the XK coupe and convertible and won't build a production variant of the C-X75 supercar, according to Automobile Magazine. Previous reports indicated that Jaguar could revive the XK line as a grand tourer, but the automaker has turned toward building two electric vehicles (EV). One would be a replacement for the XJ sedan and the other a premium SUV. The large luxury EV, codenamed X590, is reported to be a four-door coupe with a rear hatch that signifies a drastic shift in strategy by Jaguar. The vehicle is said to be a compromise between Jaguar Land Rover CEO Ralf Speth and Jaguar design chief Ian Callum. According to the report, the X590 will utilize a new electronic architecture that can be adapted to accommodate the software for autonomous driving capability that was developed under former BMW engineer Wolfgang Ziebart. Jaguar looks to take on the Tesla Model S and the slew of electric vehicles from Germany with the X590. While Jaguar hopes the EV will allow the automaker to expand to a new segment, it will continue to sell the current XJ alongside the X590. Meanwhile, an unnamed source claims Jaguar will put an electric SUV on the road shortly after the X590 in 2019. Originally planned as a Range Rover, the ute is reported to have a modern look with a focus on aerodynamics. The SUV will be offered as a rear-wheel-drive model with one motor or an all-wheel-drive version with two motors. Both variants will have a choice of three battery packs based on range, performance, and charge time. Jaguar expects to put 20,000 to 30,000 units of the X590 on the road every year, while the SUV, which should be more affordable, will have a production rate between 30,000 and 50,000 units. With the electric and SUV segment continuing to grow, Jaguar is looking to capitalize with two new vehicles that could set the tone for its future. Related Video:

Jaguar XE axed from U.S. market: And then there was one sedan

The Jaguar XE sedan will no longer be offered in the U.S. market starting with the 2021 model year, the company announced Tuesday, shifting the balance of its lineup in favor of ever-more-popular crossover models. With the discontinuation of Jaguar's compact sedan, the E Pace crossover becomes the brand's entry-level model.  "The 2021 model year lineup, with three SUVs, a sports car and a competitively priced luxury sedan, continues the evolution of Jaguar to specifically meet the U.S. market requirements, which today is made up of 66 percent SUV buyers in the luxury segment,” Jaguar North America boss Joe Eberhardt said in the announcement. “But the biggest impact on the product portfolio are the technology and interior design changes made across the lineup. These updates, and the repositioning of the Jaguar XF, will help our retailers grow our business in all segments.” And reposition it they did. For 2021, the midsize XF sedan will start at $45,145 (including $1,150 for destination) — $7,100 less than the 2020 model, corresponding to its rather significant overhaul. While the 2021 XF's interior got some much-needed upgrades, Jaguar made some fundamental changes to the XF formula. The midsizer is now only available with four-cylinder engines, as the supercharged V6 has been axed. The base engine is the turbocharged 2.0-liter four-cylinder making 246 horsepower and 269 pound-feet of torque. It's available with either rear-wheel drive or all-wheel drive. A version of this engine making 296 horsepower and 295 pound-feet of torque is optional, and it comes only with all-wheel drive. And not only is the XF now Jaguar's entry-level sedan, it's also the company's halo sedan. Yes, that's the long way 'round to saying that the XF sits alone in Jaguar's four-door lineup for the 2021 model year — and perhaps for longer — while we await the unveiling of the next-generation XJ, which is expected to debut as an EV.  Related Video: