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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 3 Series-fighter to spawn coupe, wagon

With its sights set on the BMW 3 Series, Jaguar could be planning a full range of models for its upcoming entry-level car - possibly called the XS. We've already seen spy shots of the four-door version of this all-aluminum baby Jag, but according to Auto Express, the automaker will also offer the car in coupe and wagon variants.
The XS sedan should hit the market in 2015, and the coupe and wagon models are expected soon after that. Speaking with Jag's global brand director Adrian Hallmark, AE says that the XS will be focused on styling with a design similar to the recently introduced C-X17 crossover concept. Hallmark also said that the addition of the XS lineup could help Jaguar double its sales, which were at 357,773 global units in 2012. Head on over to Auto Express for some speculative renderings of the XS coupe and wagon.

ECD Auto Design Jaguar E-Type Electric First Drive: EV restomods have a bright future

KISSIMMEE, Fla. — If youÂ’ve ever dipped a toe into the restomod world before, thereÂ’s a good chance youÂ’ve heard of the Florida-based company ECD. Originally known as East Coast Defender for the companyÂ’s earliest efforts restomodding Land Rover Defenders, itÂ’s now just “ECD Auto Design.” ThatÂ’s because thereÂ’s a whole lot more than just Defenders being cranked out of the workshop these days. And while weÂ’ve already driven its Land Rover offerings in the Defender and Range Rover Classic, today itÂ’s time to take the companyÂ’s latest creation for a spin: the ECD Jaguar E-Type. ECD announced its foray into the E-Type world about a year and a half ago, and by the time we showed up, itÂ’d already produced seven restored and/or heavily modified E-Types. Before we get too far into first impressions, though, some history. The E-Type, formally known as the XK-E here in the states, was produced between 1961 and 1974. It was a bombshell of a sports car when new, touting impressive performance for a solid price from both its inline-six and V12 engines. Jaguar went through three main iterations of the XK-E before wrapping up sales here: Series I, Series II and Series III. And while ECD has restored a Series I, itÂ’s focusing on the more widely available (and more affordable) Series II cars for this project. The E-Type was available as a coupe or convertible, and while ECD is allowing you to stick with either of the original powertrains for restoration builds, itÂ’s also offering some rather tempting swaps. If thereÂ’s something you should know about ECD, itÂ’s that this company loves a good American V8. YouÂ’ll find an LS- or LT-based General Motors V8 in most of its Defender builds, and thatÂ’s exactly what ECD is offering in the E-Type, too. GMÂ’s 450-horsepower LT1 can be plopped under the long hood of the E-Type should you want to turn it into a tire-destroying muscle machine. On the other end of the spectrum is an electric conversion option, which is the E-Type variant we got to drive. Before you scream “sacrilege!” we wonÂ’t bury the lede on this one: An all-electric E-Type is actually a hoot to drive. Admittedly, what makes it fun to drive is also what makes other modern-day sports cars fun to drive. ItÂ’s lightweight at just 2,940 pounds (thatÂ’s 60 pounds less than the V8-powered version), features a 51/49 weight balance, has a 305-horsepower motor doling out power solely to the rear wheels Â… and you can take the roof off!