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Jaguar Land Rover to cut thousands of UK jobs

LONDON — Britain's biggest carmaker Jaguar Land Rover (JLR) is set to cut thousands of jobs as the company faces lower demand in China and a slump in sales of diesel cars in Europe. The central English firm builds a higher proportion of its cars in Britain than any other major or medium-sized carmaker and has also spent millions of pounds preparing for Brexit, in case there are tariffs or customs checks. Britain's business minister Greg Clark said on Thursday it is clear why a no-deal Brexit would add to the problems with further costs and disruption. JLR lost 354 million pounds ($450 million) between April and September 2018 and had already cut around 1,000 roles in Britain, shut its Solihull plant for two weeks and announced a three-day week at its Castle Bromwich site. Its Chief Executive Ralf Speth warned in September that the wrong Brexit deal could cost tens of thousands of car jobs and posed a threat to production at the automaker. The Tata Motors-owned company, which employs around 40,000 people in Britain and has boosted its workforce at new plants in China and Slovakia in recent years, unveiled plans to cut costs and improve cash flows by 2.5 billion pounds last year including "reducing employment costs and employment levels." Those cuts will be "substantial" and run into the thousands, the source told Reuters. "The announcement on job losses will be substantial, affecting managerial, research, sales, design," said the source, who spoke on condition of anonymity, not affecting production-line staff "at this stage." The company declined to comment when contacted by Reuters on Thursday. Ford also said on Thursday it will cut thousands of jobs in Europe, exit unprofitable markets and discontinue loss-making vehicle lines as part of a turnaround effort aimed at improving profit margins in the region. Brexit warnings JLR, which became Britain's biggest carmaker in 2016, had been on course to build around 1 million vehicles by the turn of the decade, reported on Thursday a 4.6 percent drop in full-year sales to just under 600,000 vehicles. Demand in China, which had once been one of its strongest countries but has since been hit by a slowdown, fell by 21.6 percent, the biggest drop of any of its markets. "The economic slowdown in China along with ongoing trade tensions is continuing to influence consumer confidence," said Jaguar Land Rover Chief Commercial Officer Felix Brautigam.

Lister says it'll tune F-Pace SVR into the world's fastest SUV

The Jaguar F-Pace SVR is fast. Blisteringly fast. With its 550-horsepower, five-liter V8 it will hit 60 mph in just 4.1 seconds and go on to 176 mph. That sounds like the perfect blank canvas for Jaguar outfitter Lister, doesn't it? Known for its Jaguar-based race cars and road-going specials, Lister has built some legendary cars in its time. Now, accompanied by the teaser image the company's account tweeted yesterday, Lister says it'll build the world's fastest SUV out of the F-Pace SVR. It'll actually have to be really, really quick, as several sports utility vehicles now hit 60 mph in well under 4 seconds. The Tesla Model X P100D does that in 2.9 seconds with Ludicrous Mode selected, thanks to its electric grunt. On the fossil fuel side of things, there's the Grand Cherokee Trackhawk, which relies on the 707hp Hellcat V8 to reach 60 mph in 3.5 seconds. That number is matched by the Lamborghini Urus, and another Italian, the Alfa Romeo Stelvio Quadrifoglio can get to 60 in under 4 seconds. Beat all of those, Lister, and the throne is yours. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earlier in an Autocar interview, Lister's Lawrence Whittaker claimed the Lister-tuned SVR will have as much as 670 horsepower, a good hike up from the stock vehicle's power figure. Reportedly 250 units will be built. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Lister Cars Jaguar Crossover SUV jaguar f-pace lister jaguar f-pace svr

Jaguar likely moving HQ to Britain's most iconic racetrack

Jaguar Land Rover looks increasingly likely to make Britain's iconic Silverstone race track the automaker's new headquarters. There isn't a final deal in place yet, but the British Racing Drivers' Club, which owns the circuit, plans to have the membership vote on whether the negotiations should move forward, according to Autosport. BRDC leaders already presented the plan to members, and they were open to the idea. "The response was favorable so we will now set up an EGM for the members to vote and give the board a mandate to proceed with the deal and continue with the negotiations with JLR," BRDC president Derek Warwick told Autosport. There's no guarantee yet that JLR actually completes the deal. "There's still a lot of work to do to get the deal to where both sides are happy and more importantly what's right for the BRDC and its members." Warwick said. Rumors in early December suggested JLR was among the firms submitting bids to purchase the track, and the automaker allegedly offered 22.7 million pounds ($34.1 million at the time) for it. The company would also reportedly invest nearly $80 million to renovate the site, including adding a museum, experience center, hotel, and offices. The track would still be open for motorsport, too. Silverstone has hosted the Formula One British Grand Prix many times over the decades, and organizers signed a 17-year deal in 2009 to keep things that way well into the future. Series like the FIA World Endurance Championship, MotoGP, and British Touring Car Championship also compete there. Related Video: