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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.

Junkyard Gem: 1965 Jaguar S-Type 3.8

The first Jaguar XJs appeared on American roads in late 1968, and decades of production made it the iconic Jaguar sedan most familiar to us today. Before the XJ, however, there was the Mark 2, and that powerful and stylish midsize saloon sold fairly well here during the 1960s. The S-Type (yes, the Leaper-badged Lincoln LS sibling built by Ford around the turn of the century took its name from this car) was an upgraded version of the original Mark 2, sold here for the 1964 through 1968 model years. Here's a rough but recognizable '65 S-Type 3.8, found in a Denver-area wrecking yard recently. The feature that set the S-Type apart from the ordinary Mk2 was this independent rear suspension, based on the one used in the bigger and costlier Jaguar Mark X. The base Mk2 and its old-timey solid rear axle remained available in 1965, with a sticker price of $5,419 (about $51,460 in 2022 dollars), while the S-Type cost $5,933 (around $56,340 now). Yes, those inboard disc brakes were just as much a nightmare to work on as you'd think, but they reduced unsprung weight and improved the handling and ride. This car was about the same size as a typical Detroit midsize sedan of the day, but far more expensive and much more prestigious. GM's swankiest S-Type-sized offering, the Buick Skylark, cost a mere $2,552 ($24,235 today) and had a notable lack of real wood inside. Actually, that Skylark with the optional 300-cubic-inch (5.0-liter) "Wildcat 355" V8 would have been a lot quicker than the S-Type, at least in a straight line, and your friendly Buick dealer probably could have arranged to have the hot-rod 401 (and its 325 horses) out of the Gran Sport coupe stuffed into a new Skylark sedan. The S-Type of 1965 got this sophisticated DOHC straight-six of 3.8 liters' displacement, rated at 220 horsepower. As you'd expect, someone grabbed the pair of SU sidedraft carburettors before I got here, perhaps before the car even arrived at this place. The 4.2-liter version of this engine used in the Mark X got three carbs. I suspect that this car was bought by a Denver-area Jaguar enthusiast for parts, decades back, and then was used for outdoor storage of components for future projects.  These cars are worth decent money in good condition, but this one would need the application of tens of thousands of dollars to be worth … tens of thousands of dollars. As someone who daily-drove an MGB for a few years, the sight of all this Lucas electrical hardware makes me sweat a little.

Jaguar XJS gets resto-mod treatment from England-based TWR

From the Volvo P1800 to the Porsche 928, the resto-modding trend has propelled numerous classics into the 21st century. Born-again English firm TWR rummaged through its own backyard to jump on the bandwagon: it unveiled an updated version of the Jaguar XJS. Known as the Supercat, the resto-modded XJS shares little more than a silhouette and a few basic styling cues with the coupe that inspired it. It's more muscular-looking thanks to a body kit that adds a front splitter, Group B-esque wheel arch flares, a rear spoiler and a massive diffuser integrated into the rear bumper. It gets modern-looking LED lights on both ends, and it rides on center-locking wheels. TWR notes that the body panels are made out of carbon fiber to keep weight in check. Interior pictures haven't been released, though we're told nearly every part of the car will be highly customizable, and we'll need to be patient to find out precisely what's under the hood. To whet our appetite, TWR mentioned a V12 engine supercharged to 600 horsepower and a six-speed manual transmission. All told, it has taken the company more than two years to reach this stage, including intensive real-world testing. TWR notes that the Supercat will make its dynamic debut during the summer of 2024 (our money is on the Goodwood Festival of Speed). If you want one, act fast: production is limited to 88 units globally and pricing starts at GBP225,000 excluding taxes, which represents about $281,500 at the current conversion rate. Dollars matter here: unlike some resto-mods, the Supercat was developed with our market in mind. If the XJS isn't your thing, TWR stresses it has additional resto-modded projects in the pipeline. It hasn't revealed what's next, however. Jaguar XJS View 6 Photos The donor car Released as the XJS for 1976 as a replacement for the E-Type, the two-door Jaguar (shown above) was offered in numerous configurations during a production run that lasted well beyond even the company's expectations; it remained part of the range until 1996. It was offered with a straight-six, a V12, a stick, an automatic, as a coupe, and as a convertible, and it received numerous updates inside and out to remain relatively fresh. Related Video: