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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.

Watch a Jaguar tow a man on skis to 117 mph

Jaguar wagons are fun. Skiing is fun. Combine the two, and you get the above, which looks extra fun. Apparently there is a Guinness world record for top speed skiing while being towed by a vehicle. According to the video, that record was just under 70 mph. While we're not experts on high-speed skiing, that actually seems a little low, and so did Jaguar and Olympic skier Graham Bell. So Jaguar and Bell went to an undisclosed location in the Arctic Circle to break the record. Jaguar brought along an XF S Sportbrake, a 380-horsepower wagon that is now available in America (yay!). They hooked up a line to the back, Bell suited up, held on, and rode along to a final speed of about 117 mph, a full 47 mph faster than the last record. Frankly, we found this to be a pretty cool activity (no pun intended). We think maybe it should be considered for a new Olympic sport. Sure would be better than ice dancing. It could look something like the Bonneville Speed Week, with a big multi-mile stretch of snow to be towed along. Think about it, International Olympic Committee, you still have time before the 2018 Winter Olympics. Related Video: Image Credit: Jaguar Jaguar Wagon Luxury Videos jaguar xf sportbrake skiing

Jaguar F-Type Project 7 takes the D-Type to the 21st Century

One of the many big name debuts during the 2014 Monterey car week is this, the Jaguar F-Type Project 7, a stunning roadster inspired by Jaguar's legendary, finned D-Type sports car.
The Project 7 expands on the already appealing F-Type Convertible formula, further boosting the Jaguar Land Rover 5.0-liter, supercharged V8 to its most potent form yet - 575 horsepower - making this the most powerful production Jag in history. So equipped, the Project 7 is more cheetah than jaguar, roaring to 60 miles per hour in a rapid 3.8 seconds before reaching its electronically limited peak speed of 186 miles per hour.
Prices for the F-Type Project 7 start at $165,000, with customer deliveries slated begin in spring of 2015.