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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.

Jaguar bringing all-wheel-drive F-Type to LA Auto Show [w/video]

Jaguar's big splash at last year's Los Angeles Auto Show was showing off the slinky F-Type Coupe; perhaps one of the loveliest car shapes on the road today. This year the company won't have a show-stopping new design to offer, but the news that all-wheel drive is coming to the F-Type range is, nevertheless, pretty spectacular.
Mixed in with news about a technical partnership between Jaguar and the Bloodhound SSC World Land Speed Record program, the British brand announced this morning that it will show the first AWD F-Type Coupe at the 2014 LA show later this month.
Jaguar tells us that the sure-footed cat, in AWD F-Type R Coupe form, will run from 0-60 miles per hour in just 3.9 seconds, with a limited top speed of 186 mph.

Jaguar I-Pace vs. Tesla Model X and Model S: How they compare on paper

When Jaguar released its first specifications on the 2019 I-Pace, we decided to see how it stacks up with a number of other EVs including the Tesla Model 3, Chevy Bolt EV, and Hyundai Kona EV. The reason being that they all deliver between 200 and 300 miles of range, and they were all quite close in size. But it wasn't a perfectly accurate comparison, because the Jaguar occupies an odd space in the electric market. While it offers similar range and size to those more entry-level EVs, it packs substantially more power, more brand cachet, and, once the official pricing was released, a much higher price tag. As such, we wanted to also compare it with the cars synonymous with luxury electric motoring (literally), the Tesla Model X and Model S. We're only comparing it with the base-level 75D models of each Tesla, since they are the closest in price and performance to the Jaguar. You can see the raw stats below, and can find more analysis and highlights farther down. If you'd like to compare these cars with others, be sure to try out our comparison tools. Performance All three of these electric cars use a similar powertrain consisting of two electric motors, one up front and one in the rear to power all four wheels. The Jaguar I-Pace's 394 horsepower and 512 pound-feet of torque is a fair bit more than the 328 horsepower and 387 pound-feet combined power from the Teslas, according to Motor Trend. But in the sprint to 60 mph, the Jaguar doesn't really gain an advantage. It's 0.4 seconds quicker than the Model X, but 0.3 sec. behind the Model S. This is despite the Jaguar weighing about the same as the Model S, and a few hundred pounds lighter than the Model X. View 32 Photos At 90 kWh, the Jaguar also has a larger battery capacity than the Tesla 75D models, but range is again mid-pack between Musk's cars. At 240 miles, it's just 3 miles ahead of the Model X, and 19 miles behind the Model S. The I-Pace and Model X also are about as hungry for electricity as each other, both with an energy consumption estimate of about 36 kWh/100 miles, while the Model S is the most frugal at 33. All three vehicles have the ability to use DC fast chargers, with Jaguar claiming an 80-percent charge in 40 minutes at a 100-kW charger. But only the Teslas have access to the Supercharger network, and they come with credits for free charging up to 400 kWh at those stations. Exterior and Interior Dimensions In every measurable way, the Jaguar is smaller than the two Teslas.