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Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

Jaguar C-X75 and Aston Martin DB10 spied drifting during Spectre shoot

Based on the cars alone, the 24th James Bond film, Spectre, is set to be one of the biggest and most impressive in the long-lived franchise. While we're stuck waiting until November to see the automotive extravaganza on the big screen, a lucky bystander managed to catch two of the movie's four-wheeled stars filming on the streets of Rome. Italian YouTuber Marchettino, well known for his videos from Ferrari's Fiorano test track, caught the video of the Aston Martin DB10 and Jaguar C-X75 filming in the dark of the Roman night, with the Aston sliding its way around a turn and the Jag giving chase. Not surprisingly, the DB10's Vantage-derived V8 features prominently. This is, of course, not the first time news regarding this chase scene has graced our digital pages. Spectre star Daniel Craig sustained a minor injury in the course of this filming, after the DB10 he was riding in hit a pretty significant pothole. We've also caught 007's Aston filming in the UK. News Source: Marchettino via YouTube Celebrities TV/Movies Aston Martin Jaguar Coupe Performance Videos spectre jaguar c-x75 aston martin db10

Jaguar XE spied flying over London

We only have a few hours to wait before Jaguar finally, and fully, unveils its oft-teased XE sedan. But the Internet is no respecter of secrets, as these very last-minute spy shots make clear.
Presumably being airlifted to its spectacular debut location near Earl's Court in London, the BMW 3-Series-fighting XE was captured mid-flight, and completely undisguised.
The images are understandably a bit blurry, but they do confirm that DNA from the current Jag lineup is transitioning nicely to the new small luxury sedan. The XE shows a stance typical of the brand, with a relatively short rear overhang, and big, boldly styled wheels. The bluff front end is reminiscent of if the XF and XJ, and, as we know from earlier teasers, will wear a "growler" logo over a black grille.