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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.

Weekly Recap: Things you might not know about the 2015 Dodge Charger and Challenger Hellcats

If you're an enthusiast, and you don't know that Dodge spawned another Hellcat this week, you really must have been living in cave. The 2015 Dodge Charger SRT Hellcat is probably the biggest news for enthusiasts since the reveal of, well the 2015 Dodge Challenger SRT Hellcat.
But, there are some things you might not know or might have missed about the new Charger and Challenger Hellcats. For starters, reports that the Hellcat production would be limited to a low volume are not true.
"We have not capped the Hellcat on either the Challenger or the Charger," Dodge CEO Tim Kuniskis said.

2021 Jaguar E-Pace spied on the Nurburgring hiding its styling changes

We just spied a Jaguar E-Pace lapping the Nurburgring covered in camouflage from front to back. Jaguar released the first E-Pace as a 2018 model year, so we’re fast approaching what will be the modelÂ’s first light refresh. Things donÂ’t appear to be drastically changing from an exterior design perspective. The same shapes, cutouts and vents are all visible on the rear fascia and hatch. Even the slick taillights look largely the same as the E-Pace thatÂ’s on sale now. If thereÂ’s going to be some change in this crossover, we suspect itÂ’ll be up front where the coverings change from skin-tight camo print to pieces of fabric that completely disguise whatÂ’s underneath. Two cutouts in the fabric are visible on the side air intakes, presumably allowing air to pass through to keep the E-PaceÂ’s vitals cool on the Nurburgring. Possible changes include a new grille and front bumper design, most likely mimicking the lightly massaged F-Pace front end design. Seeing that Jaguar spent most of its time upgrading the F-PaceÂ’s interior, thereÂ’s a good chance Jaguar is doing the same with the E-Pace. ItÂ’s definitely the area that requires the most attention, especially now that the F-PaceÂ’s interior is so handsome. WeÂ’d love to see Jaguar put as much tech and style into its small crossover, and this is its chance to do that. Powertrain options shouldnÂ’t depart much from what you can buy now. ThereÂ’s a P250 packing a 2.0-liter turbocharged four-cylinder thatÂ’s good for 246 horsepower. The upgrade is the P300 with a more potent four-cylinder, raising output to 296 horsepower. Seeing as the recently redesigned Evoque still has no engine more powerful than the E-Pace, the Jag will likely carry over these power units, as well. If anything, the E-Pace will gain a mild-hybrid powertrain option, which could be what Jaguar is stress testing on the Nurburgring right here. Jaguar still hasnÂ’t announced the 2021 E-Pace, so this model could be the refresh. If theyÂ’re not as far along as we guess, itÂ’ll certainly end up being the 2022 E-Pace. Either way, an improved E-Pace isnÂ’t that far out.