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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)

Jaguar buys world's largest collection of British cars

Whether you're looking at Bertone going bankrupt or Spyker facing (and subsequently resolving) a large tax bill, it's saddening to see an automaker having to sell off its factory collection. That's why we're glad to report that there are still some acquiring historic vehicles from their pasts. Like Jaguar, which has just bought the largest private collection of classic British cars in the world.
The collection of 543 cars was painstakingly assembled by one James Hull, a British dentist with some 50 dental clinics to his name across the UK and who was keen to find the right buyer to take possession of his life's work and preserve it for years to come.
Of those 543 cars, the majority are of British origin, including over 130 Jaguars. The collection includes seven XK120s, several C- and D-Types, a rare XKSS, eight E-Types, thirty Mark-series Jaguar sedans, nineteen XJS coupes and convertibles, some twenty XJ sedans as well as some pre-war SS models and Swallow sidecars and coachbuilt specials from the company's early days. Among the many noteworthy examples are a rare SS100, an alloy-bodied XK120 and an MK X owned by company founder Sir William Lyons himself, as well as Winston Churchill's Austin, Elton John's Bentley, and racing driver and motorcycle rider Mike Hailwood's E-Type.

Cat Scratch Fever: Jaguar's turnaround looks toward the US

It is ironic that a British car company, steeped in the European sports-car tradition and now owned by an Indian industrial conglomerate, will ambitiously be seeking to attract customers in the United States with, of all things, a truck. But there it is: Jaguar's beefy F-Pace crossover, the first SUV in the company's 80-year history, hit the ground last month at the Frankfurt motor show. The F-Pace – along with the new XE sedan designed to take on the BMW 3 Series and Audi A4 both in Europe and on these shores – is spearheading the brand's hoped-for turnaround on this side of the Pond. In the States, Jaguar is still a big player for Tata Motors of India, which bought Jaguar Land Rover from Ford for $2.3 billion after months of back-and-forth negotiations in 2008. It seemed like an incredibly brassy move at the time, when the economy worldwide was reeling and Britain's automotive industry was on its heels. And while the Jaguar brand name has a grand historical resonance, in the first nine months of 2015 it moved just over 11,000 cars in the US, down five percent for the same period the previous year. But if Porsche can capitalize on SUV sales, so can Jaguar. The tea leaves are promising come next spring, when both new premium luxury models arrive in the US. The F-Pace will have a starting price of about $43,000; the sedan range starts at a competitive $35,000. View 25 Photos Architecturally, both models are similar, with a modular aluminum chassis, and, for the F-Pace, a range of gasoline and diesel engines for Europe as well as rear- or all-wheel drive. For the American market, the model-year 2017 crossover will launch with a 380-horsepower gasoline V6 mated to an eight-speed transmission and all-wheel drive. Later in 2016, a 180-hp four-cylinder Ingenium diesel is expected to be added to the lineup. Both models are currently built in the UK, although if demand increases, Jaguar is likely to shift some production to Brazil, China, or Eastern Europe. I wanted a Jaguar that was designed as a crossover, not the other way round. For Jaguar design director Ian Callum, who showed up at the SUV's formal debut in Frankfurt, skepticism – did we mention that Jaguar was a sports-car company? – turned to enthusiasm as his team worked to develop some "drama" in the SUV's shape. "I wanted a Jaguar that was designed as a crossover, not the other way round," he said.