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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.

Jaguar refreshes the 2018 F-Type lineup and adds a high-performance V6 model

Jaguar is giving the F-Type line a refresh for 2018 and adding two new variants. All new F-Types feature LED headlights and slightly darker taillights. Every model except the SVR also gets updated front bumpers. The most noticeable change is the side vents, which morph from the double slots to single openings in most cases. The F-Type R's large side vents are bisected horizontally. The two new F-Type models are the R Dynamic and the limited edition 400 Sport. The R Dynamic isn't particularly exciting, since it's pretty much just a dress-up package for the entry level 340- and 380-horsepower F-Types. All the model adds are 19- and 20-inch wheel options, as well gloss black-painted hood vents, splitter, side sills, and rear diffuser. The 400 Sport, on the other hand, comes with much more. It's only available for one year, and comes with a modified supercharged V6 producing 400 horsepower. The 400 Sport can be ordered with either rear- or all-wheel-drive, but the 8-speed automatic is the only available transmission. The car also benefits from larger 15-inch brakes at each corner. Owners of the 400 Sport can personalize their driving settings as well, thanks to the car's Configurable Dynamics system. Inside and out, the 400 Sport gets some visual upgrades, too. It includes the Sport Design Pack, which adds a deeper front spoiler, larger side sills, and a rear diffuser. A flat-bottom steering wheel, yellow contrast stitching, and black brushed aluminum accents finish off the interior. There are also plenty of 400 Sport badges on the car. View 12 Photos The two other major changes for the F-Type line involve infotainment. One of which is that every model now comes standard with Jaguar's Touch Pro infotainment system and its 8-inch touchscreen with which the driver can interact. The other is a cool new app the company developed with GoPro. It's called ReRun, and it allows the driver to connect a GoPro camera to the car, and download footage to the phone. The reason for connecting the camera to the car, is so that it can add telemetry data including speed, gear, g force, and steering and brake inputs to the video footage. After a spirited drive in the country or on a racetrack, the footage can be downloaded to the phone to be reviewed and shared. The app even generates "highlights" automatically. The new F-Type range will go on sale in the first quarter of 2017.

Jaguar XE SV Project 8 slices record Nuburgring lap down to 7:18.361

No production four-door vehicle has ever come close to breaking a seven-minute lap on Germany's Nuburgring (we see you WRX STI Type RA NBR), but manufacturers are slowly inching toward the achievement a few seconds at a time. Jaguar announced that it returned to the famed racetrack with its XE SV Project 8 and clocked a 7:18.361 lap, a new sedan record that's 2.9 seconds faster than the Project 8's previous record.  When Jaguar debuted the Project 8 in 2017, it had the makings of a specialty car that would slither into the shadows as quickly as it blasted onto the scene. But it's been quite the opposite. Jaguar has continued development of the vehicle and offers three different versions, including a touring variant. Production has lasted into the 2019 model year, and we recently tested one to get a handle of just how monstrous the thing truly is.  Much can change and be learned in two years, though, and Jaguar wanted to follow up its first trip to the Nurburgring, where it posted a record-setting time of 7:21.23. Under the guidance of Project 8 development driver Vincent Radermecker, the Jag ran the circuit in 7:18.361 on July 8, 2019. It did so in two-seat track pack spec and on Michelin Pilot Sport Cup 2 R tires. Jaguar made sure to clarify a detail about the run and the time. The 2017 time was done on the then-used 20.6-kilometer (12.8 miles) setup, and so was this time. But starting in 2019, the Nurburgring began officially recording times on the full 20.832-kilometer (12.94 miles) lap. Using the 20.832 lap, the Project 8 recorded a time of 7:23.164. With that run, the 592-horsepower supercharged Project 8 is the first vehicle to set an official whole lap record in the mid-range production car class. Watch the 7:18 run in 360-degree video below.   This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.