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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Driving JLR Classic's factory-restored Jaguar Reborn E-Type

COVENTRY, England – Moviegoers of a certain age will likely draw an association between the flag-emblazoned E-type “Shaguar” driven by Austin Powers and the carÂ’s image as an icon of Swinging-Sixties cool. For sure, the Brits cling to this era, recalling a time when everyone from The Beatles to the nationÂ’s car manufacturers were successfully exporting English swagger to the world. As the 60th anniversary of the E-typeÂ’s first appearance in 1961 approaches, attention is again focused on this golden age for British automotive engineering and JaguarÂ’s increasingly industrialized approach to leveraging its heritage. That takes the form of an impressive modern facility on the outskirts of the brandÂ’s hometown, where classic Land Rover, Range Rover and Jaguar vehicles are “Reborn” in nut-and-bolt factory restorations. This isnÂ’t a few old hands turning spanners in a dusty corner of the main factory — instead customers can go direct to Jaguar Land Rover Classic Works, order the Reborn vehicle of their dreams and sit patiently for the spectacular return on their considerable investment. In the case of the Reborn E-type driven here, that starts at around $400,000, though that figure can rise considerably if youÂ’re fussy about the vintage of the original car and want one based on a more sought-after early model. For the real fanboys Jaguar is even offering Drivsix matched pairs of restored E-type 60 Editions to celebrate the coupe and roadster that were famously driven direct from the factory to the Geneva unveiling just in time for Jaguar founder Sir William Lyons to reveal it to the world. That even Enzo Ferrari was moved to acknowledge its beauty adds to the romance of that moment, and explains why Jaguar is so keen to celebrate it. But can the Reborn E-type do justice to such myth and legend? And is factory original really preferable to the restomods built by independents like Eagle? Wheel time in a gorgeous Reborn 1965 4.2 Fixed-Head Coupe on an authentically grey and overcast English day is my chance to find out. The E-type may have earned EnzoÂ’s respect for its looks but, ever the wily engineer, he will likely have been paying closer scrutiny to what was under those slinky panels. Jaguar had demonstrated it could beat the worldÂ’s best in sports car racing with multiple Le Mans wins in the 1950s. As the new decade dawned, it looked to have ambitions to do the same in showrooms with a product that made MaranelloÂ’s finest seem like old tech.

Lister Knobbly returning to limited production for 60th anniversary

Lister Cars was one of the pedigree names of British racing from its founding in 1954 and then on and off until the early 2000s. The company combined its own lightweight chassis with engines from other manufacturers, many of them British (and especially from Jaguar). Last year, the name and the intellectual property were sold to a new company that planned to revive the brand. For Lister's 60th anniversary, it is building a new version of one of its most famous racecars, the 1958 Lister-Jaguar Knobbly. The 2014 Listers are built to the exact specifications of the original cars, and the aluminum bodies are hand-formed on the original jigs. It is offered in racing trim starting at 249,000 pounds ($409,618) and is certified for FIA historic racing. There's also a road-legal version starting at 259,000 pounds ($426,060), if you don't intend to race but do intend to drive. There are two engines available, just like in the original car. A reproduction Jaguar D-Type 3.8-liter inline-six with dry-sump lubrication pumps out 330 horsepower and 295 pound-feet of torque with a four-speed Jaguar gearbox. The other option is a 4.6-liter Chevy V8 with 315 hp and 290 lb-ft with a four-speed manual transmission. The Chevy-engined version also gets a slightly altered body with a higher hood to clear the engine. The first 2014 Listers will be delivered in the UK this April. Unlike many of these boutique sportscars, the racing version will be available to US buyers, but Lister won't federalize the road version due to the high cost. Scroll down to get all of the details about the revived racer. LISTER MOTOR COMPANY LAUNCHES NEW 60th ANNIVERSARY BROCHURE AS THE ORDER BOOKS BEGIN TO FILL New 60th Anniversary Lister Jaguar brochure now available 50 per cent of 2014 production already sold First cars to be delivered in April, 2014 Road-going variant to be offered at GBP259,000 + tax Race-going version to be GBP249,000 + tax. Following the recently announced purchase of the Lister Motor Company in May 2013, the company is delighted to announce that it has now published its 60thAnniversary Lister Jaguar brochure, which fully outlines the specifications for its fantastic recreation of the iconic Lister Jaguar 'Knobbly' racing car.