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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 re-releases the toolkit the E-Type came with when it was new

Finding a complete, original toolkit is a rare treat for vintage car collectors. Jaguar's Classic division has its finger on the hobby's pulse, so it launched a reproduction of the toolkit placed in every new E-Type between 1961 and 1971. It lets owners put the final, factory-correct touch on their restoration. The British firm rummaged through its archives to find the toolkit's engineering records in order to make it to the exact same specifications as the original. The list of tools included in the bundle includes pliers, a three-piece screwdriver, a screwdriver used to adjust the ignition points, a feeler gauge, a grease gun, a valve timing gun, and an assortment of wrenches. They're all Jaguar-branded, and they come in a leatherette pouch that's just like the one buyers got when they purchased a new E-Type. It fits neatly in a corner of the E's trunk; the only thing missing is a rag to wipe your hands with when you're done wrenching. Jaguar doesn't offer one -- yet. Jaguar noted that only Series I and Series II variants of the E-Type came with the toolkit, and it went out of production nearly 50 years ago. This is a classic British car we're talking about, so you can safely bet the cost of a full, in-house restoration that the tools saw plenty of use. They inevitably ended up in mix-and-match toolboxes over the years. Sourcing a complete kit in good condition is consequently difficult, and expensive; some trade hands for nearly $6,500. Available online from Jaguar - Land Rover's classic shop, the reproduction is priced at 732 British pounds (about $950), so it's a bargain in comparison. Still, we wouldn't blame owners who decide to keep the toolkit for decorative purposes, and use much cheaper tools when wrenching gets serious.

Jaguar E-Type Series 3 gets tasteful upgrades thanks to E-Type UK

The Jaguar E-Type is one of the most important and recognizable cars of all time. The E-Type — also called the XK-E here in the U.S. — was in production from 1961 until 1975. That said, when most people think of E-Types, they think of the early Series I cars. The later ones (especially federalized models with those horrendous bumpers) don't get much love. E-Type UK, a restoration shop in England, is giving those Series 3 models a second life. The car in these photos is a 1974 Jaguar E-Type V12. This Series 3 underwent a 3,000-hour restoration, getting a number of upgrades along the way. The engine — originally displacing 5.3 liters — has been enlarged to 6.1 liters. It ditched the original Stromberg carbs for a custom downdraft fuel-injection system. Just take a look at those velocity stacks. The car has also been fitted with a custom stainless-steel exhaust system. Power is sent to the rear through a new close-ratio five-speed manual transmission. E-Type UK says it now makes 284 horsepower at the wheels. Other upgrades include a new steering rack, adjustable suspension with new torsion bars, AP Racing brakes with four-piston calipers and ventilated rotors and custom one-off 62 spoke 16-inch Turino wire wheels wrapped in whitewall tires. New louvres and air ducts were added to help cooling. All external lighting has been upgraded to LEDs, including the daytime-running lights. Inside, the E-Type has been fitted with air conditioning, modified heated leather seats from an XJS, iPod and Bluetooth connectivity, piano black trim and a red start button. The interior, including the factory hardtop, has also been fitted with Dynamat to reduce road noise. The car even has remote door locks. E-Type UK didn't post the price for this car, but a similar S3 E-Type is listed for GBP190,000, or about $250,000. If Series 3 or V12-powered cars aren't your thing, the website has a few listings for Series 1 cars with the classic inline-six. There's even an XK120 under the "sold" listings. Related Video: