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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.

2013 Jaguar XF 3.0 Supercharged

Generally speaking, I don't get too upset about the growing need to replace displacement in modern cars. Sure, there are exceptions (don't you touch my 6.2-liter AMG V8), but honestly, the industry's new forced induction powertrains are all lovely, and their gains in fuel economy - when they actually make good on them - can make up for the ever-so-slight losses in performance or driving character.
But I'm having a hard time keeping my chin up with this Jaguar XF. For the 2013 model year, Jaguar has killed off the naturally aspirated 5.0-liter V8 and fitted a supercharged 3.0-liter V6 with an eight-speed automatic in its place (and even offers a turbocharged four-cylinder engine below that). That all sounds perfectly well and good, but a week behind the wheel of this British Racing Green sedan just left me missing that V8. And then some.
Driving Notes

2019 Jaguar F-Pace adds technology, gets to keep all its engines

Jaguar recently revealed a lightly refreshed XE sports sedan with a more modern interior and technology, but it also lost its V6 and diesel engine options. That led us to believe the same might happen to the updated 2019 Jaguar F-Pace, but instead, it gets a lighter update inside and both the diesel four-cylinder and supercharged V6 engines stick around for another model year. While styling stays the same, the technology updates for the 2019 F-Pace are welcome. All F-Paces get a bigger 10-inch infotainment display, and the system itself has updated graphics from the I-Pace electric car. Apple CarPlay and Android Auto are now available, too, but as an optional extra. The tech updates aren't just limited to infotainment, though. The blind-spot monitoring system will now apply a counter-steering force if it detects an object when the driver begins to merge. The optional adaptive cruise control now has an active steering feature that will keep the car centered in its lane on the highway. With the added technology updates comes higher prices. The base 25t four-cylinder F-Pace price goes up by $2,735 for a total of $45,825 with destination. The diesel-powered 20d jumps $2,475 for a total of $49,775. The 30t with the more powerful four-cylinder engine increases $2,475 to $51,275. The V6-equipped S has the smallest increase of $2,025 bringing its final base price to $62,825. The new SVR wasn't around last year, so it doesn't see an increase, but for reference it starts at $81,015 with destination.