1956 Xk140 Roadster With Spats Undergone A Complete Frame Off Restoration on 2040-cars

Auto blog

Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

The 2021 Jaguar F-Type Heritage 60 Edition is fast, exclusive and classically green

The original Jaguar E-Type turns 60 years old next March, and to celebrate, Jaguar is building a limited run of a special F-Type. It's awkwardly called the 2021 Jaguar F-Type Heritage 60 Edition, but it's otherwise a subtle, classy example of the sports car. One of the most noteworthy aspects is that soft green hue. It's Sherwood Green, which was a color offered on the original E-Type, but hasn't been available since the 1960s. It's the only color offered here, and won't be available on other F-Types. Black and aluminum trim accents dot the outside, and they're paired with machine-finish forged wheels. The interior features a light brown and black leather interior, and there are special logos placed throughout. That logo also happens to be shared with the restored Jaguar E-Type Heritage 60 Collection cars. The center stack gets a unique aluminum trim that's patterned to match the back of an E-Type's rearview mirror. The F-Type Heritage 60 Edition is only available in F-Type R specification. That means it gets a supercharged 5.0-liter V8 making 575 horsepower and 516 pound-feet of torque. Power goes through an eight-speed automatic transmission to all four wheels. Buyers do get the choice of either coupe or convertible, though. Only 60 examples of the mean green cat will be built worldwide. Pricing hasn't been announced, but it should be a good bit more than the roughly $104,000 of a base F-Type R. Related Video:

Jaguar F-Pace prototype goes to work at the Nurburgring

Jaguar is hard at work again, testing its upcoming F-Pace crossover. And here's our latest look at the prototype testing at the Nurburgring. The tester spotted here appears the same as the one we recently saw undergoing cold-weather development, only this time it's wearing summer rubber on fullsize wheels instead of winter tires on smaller ones. It's also missing the old prototype's auxiliary lights, and a bit more camouflage covering the quarter panels. The fact that it was seen on the Nordschleife, however, bodes well for the F-Pace and speaks to its orientation: Jaguar's first crossover promises to be geared towards performance, a sort of on-road counterpart to the off-road prowess of the SUVs offered by its sister brand Land Rover. We're looking forward to seeing the finished product at the Frankfurt Motor Show in the fall, but in the meantime you can scope out the spy shots in the slideshow above.