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Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

Eagle Spyder GT is the roadster Jaguar E-Type of your dreams

Eagle, a British company that has specialized in restomodding classic Jags for over thirty years, has rolled out a new version of their modified E-Type called the Eagle Spyder GT. If you've heard of Eagle already, it's probably for its gorgeous Speedster. The company subsequently followed up with the fixed-roof Low Drag GT, inspired by the competition model Jaguar developed back in 1961 (and recently continued). The Spyder GT splits the difference, with a chopped and raked windscreen and a folding fabric roof mechanism. Like its stablemates, the Eagle Spyder GT wears bodywork painstakingly crafted entirely out of aluminum, with exquisite detailing. No wonder that, in reviewing it on Top Gear, Jeremy Clarkson said, "I think this, by a long way, is the most beautiful car I have ever seen. It might actually be the most beautiful thing I have ever seen." That's high praise indeed from a guy who's not known to shy away from speaking his mind. Unfortunately most of us will never find out, as Eagle only produces these special editions in very limited quantities and at very high cost. Each is custom-made to the owner's specifications, with the first example of the new Spyder GT to be delivered this summer. Related Video: X EAGLE E-TYPES ANNOUNCE THE SHAPE OF THINGS TO COME - THE EAGLE SPYDER GT In Brief: - Eagle announces the third in their trilogy of special edition Jaguar E-Types - the new Eagle Spyder GT. - The Spyder GT combines the style and dynamics of the celebrated Eagle Speedster with the high performance touring capability of the Eagle Low Drag GT- and incorporates a folding roof for practicality. - Completely bespoke with extensive customer options, the few produced will be the most exclusive hand built cars in the world. Eagle has focused for over thirty years to refine, develop and deliver exceptional engineering for the Jaguar E-Type while remaining true to the spirit of this extraordinary car. The Eagle E-Type has often been described as 'the finest hand-built car in the world' and the reaction of the world's press to the successive 'special edition' Jaguar E-Types developed in-house at Eagle has been rapturous. Leading the way was the Eagle Speedster, which was developed from a client request and then feted around the world.

Jaguar F-Type Project 7 takes the D-Type to the 21st Century

One of the many big name debuts during the 2014 Monterey car week is this, the Jaguar F-Type Project 7, a stunning roadster inspired by Jaguar's legendary, finned D-Type sports car.
The Project 7 expands on the already appealing F-Type Convertible formula, further boosting the Jaguar Land Rover 5.0-liter, supercharged V8 to its most potent form yet - 575 horsepower - making this the most powerful production Jag in history. So equipped, the Project 7 is more cheetah than jaguar, roaring to 60 miles per hour in a rapid 3.8 seconds before reaching its electronically limited peak speed of 186 miles per hour.
Prices for the F-Type Project 7 start at $165,000, with customer deliveries slated begin in spring of 2015.