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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)

Watch thieves dressed like ninjas hit dealership, steal $583,000 worth of Land Rovers

WAUKESHA, Wis. — A group of teenagers believed to be from the Chicago area broke into a luxury car dealership in Wisconsin and drove off with nine vehicles worth more than a half-million dollars, police said. Sunday's heist at a Jaguar-Land Rover dealership in Waukesha was captured on surveillance camera footage showing nine masked suspects filing into the dealership before each drives off in a car in the city about 19 miles (30.5 kilometers) west of Milwaukee. The video also shows one car being backed up and smashed through an overhead service door. Waukesha Police Capt. Dan Baumann said the suspects broke into the dealership about 6 a.m. Sunday, found where its car keys were stored and then activated those key fobs to find the cars they stole. “Nine subjects went out and throughout there looking for keys. One person finds where the keys were hidden and then starts to disseminate those to his friends,” Baumann told WISN-TV. The nine vehicles are valued at more than $583,000, he said. One suspect, a 17-year-old Chicago boy, was arrested Sunday in the southern Wisconsin community of Pleasant Prairie after the stolen vehicle he was driving crashed along Interstate 94 during a police pursuit. He was being held at the Waukesha County Jail on a $50,000 bond and faces burglary, theft and criminal damage to property charges, Baumann said. Police said Sunday that the suspects are believed to be “an organized crime group of teenagers from the Chicago area.” Baumann said Friday that all or most of the teen suspects are known to members of a police task force in southern Wisconsin and northern Illinois and police in that two-state region were still searching Friday for the eight other suspects. Six of the nine stolen vehicles have been recovered — four in Chicago, one in the Chicago suburb of Deerfield, and one in Wisconsin after the highway crash that led to the 17-year-old's arrest, he said.

Jaguar gives World Car jurors private viewing of J-Pace, next XJ

The brace of accolades bestowed on the Jaguar I-Pace include three awards given by the 86 jurors on the World Car of the Year panel. They anointed the I-Pace World Car of the Year, World Green Car of the Year, and World Car Design of the Year. Jaguar hosted a get-together for its new WCOTY friends, inviting jurors to the carmaker's Coventry design studios to check out future products. The coming all-electric XJ and flagship J-Pace were the stars of the gathering, this being the first time Jaguar's publicly got behind the range-topping crossover. Ex-head designer Ian Callum hinted about the J-Pace in April, but all he would say is, "We're looking at it." With Jaguar confident enough to show the vehicle to very important outsiders, the J-Pace could be on track for its rumored 2021 launch. Jaguar dropped hints of other new cars, too. The carmaker "gave a firm nod to" two new crossovers that will be "considerably less expensive" than current crossovers in the lineup, to be called A-Pace and B-Pace. We've never heard of these, but based on the brand's naming structure, the A-Pace would slot in at entry-level, the B-Pace just above. It's said that one or both of these will be sized to compete in the World Urban Car Awards sometime in the 2020s. That means subcompact dimensions along the lines of this year's World Urban Car winner the Suzuki Jimny, or the top-three finisher Kia Soul. The jurors also got a look at the imminent replacements for the F-Type and XE. The second-generation F-Type is said to wear an evolutionary design; the big changes will take place under the hood. A V8 could remain in the top tier, but one sourced from BMW instead of Jaguar's own supercharged 5.0-liter V8. The current V6 is expected to give way for an Ingenium inline-six developed in-house. And expect one or both of them to come with hybrid assistance, as Jaguar's made a point of saying that all of its offerings will get "electrified options" in the 2020s. What did Jaguar get out of the open-house? Insider information, apparently: "150 senior Jaguar employees" put questions to the WCOTY jurors about how the panel road-tests cars. Perhaps the WCOTY award will become the new Nurburgring for the next decade. As a final flourish to everyone who'd get the news, Jaguar CEO Ralph Speth informed the audience that his charge and Land Rover "are definitely not for sale to Peugeot-Citroen, Fiat-Chrysler, Hyundai-Kia or any other motor manufacturing companies." So there.