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Jaguar Land Rover undergoes $3.2 billion turnaround plan as sales slump

MUMBAI — India's Tata Motors on Wednesday announced a turnaround plan for its luxury car unit Jaguar Land Rover, which has been hit hard by trade tensions between China and the U.S., low demand for diesel cars in Europe and worries over Brexit. Under "Project Charge," Tata Motors said it plans to cut costs and improve cash flows at Jaguar Land Rover (JLR) by 2.5 billion pounds ($3.2 billion) over 18 months. JLR also plans to launch several new vehicles, including the Jaguar I-Pace and the new Range Rover Defender over the next few years and will offer a hybrid or full-electric version of all its models by 2020. "Together with our ongoing product offensive and calibrated investment plans, these efforts will lay the foundations for long-term sustainable growth," JLR CEO Ralf Speth said after Tata Motors reported a quarterly loss. JLR has trimmed its pre-tax profit expectations for the current fiscal year ending March 31, 2019, and expects to break even, Speth said, versus an earlier target of profit growth. As part of the turnaround plan, JLR will first focus on cash-saving "quick wins" like reducing non-product investments and speeding up asset sales, Tata Motors said in an investor presentation. In the near term it will improve efficiency in areas including purchasing and material cost, manufacturing, logistics and people, and will focus on strategic and non-core asset sales. JLR has already reduced the number of production days at its UK plants in Castle Bromwich and Solihull. The company said in its presentation it has saved 300 million pounds since it initiated the turnaround plan six weeks ago and is working on 500 ideas for the future. Tata Motors reported a loss of 10.49 billion rupees ($141.9 million) for the July-September quarter, compared with a profit of 24.83 billion rupees in the year-ago period. That was worse than the estimate of a loss of 2.40 billion rupees, according to Refinitiv data. JLR reported a loss of 101 million pounds during the quarter and its margin on earnings before interest, tax, depreciation and amortization (EBITDA) fell 130 basis points to 9.9 percent. Retail sales of its Jaguar sedans and Land Rover sport utility vehicles (SUVs) fell 13.2 percent to about 130,000 units, hurt particularly by tariff changes in China and escalating trade tensions. Demand in China remained muted even after the country cut import tariffs for cars and car parts to 15 percent for most vehicles from 25 percent from July.

2018 Jaguar F-Type gets four-cylinder turbo engine option

At the 2017 New York Auto Show, Jaguar has revealed the final piece of the 2018 F-Type puzzle: a four-cylinder entry-level model. It rounds out an expanded lineup of F-Type variants that have all gotten a bit of a facelift and some additional content for 2018, which we told you about back in January. But the little four-cylinder is definitely the biggest surprise. Underhood is the state-of-the-art 2.0-liter, turbocharged, gasoline-fueled Ingenium engine, which is making its way into several Jaguar-Land Rover products for the first time in the 2018 model year. It has a full suite of contemporary technologies, like a variable-lift electrohydraulic valvetrain that eliminates the need for a traditional throttle, an integrated exhaust manifold, and a dual-scroll turbocharger. You might recall that the Ingenium gas engine is replacing an older 2.0-liter turbo four in the XE, and also will show up in the F-Pace and XF. Add the F-Type to this burgeoning list, and don't expect it to stop there. The Range Rover Velar has also been announced for the US with this engine. In the F-Type, the 2.0T makes 296 horsepower and 295 pound-feet of torque, which is higher than some of the other applications for this engine in the US. There's only one powertrain arrangement for the 2.0T in the US – rear-wheel drive and backed up by an eight-speed automatic – but buyers will be able to choose from a coupe or convertible body style. Jaguar claims the 2018 F-Type will scoot to 60 mph in as little as 5.4 seconds. It's also the lightest F-Type, by a smidgen. The 2.0T coupe weighs 3,360 pounds, which is 95 pounds lighter than the next-lightest coupe, the 3,455-pound, 340-horsepower supercharged V6 coupe equipped with a manual (and 117 pounds lighter than that car with an automatic). There's probably a fuel-economy benefit in EPA testing as well, but Jaguar doesn't have EPA numbers yet, so stay tuned on that. Don't forget that the 400 Sport variant will join the 2.0T on the stand. It's a one-year-only special edition model with a supercharged V6 uprated to 400 hp, but sadly there's no manual version on offer. Related Video: Featured Gallery New York Auto Show Jaguar Convertible Coupe Luxury Performance 2017 new york auto show ingenium

1956 Jaguar D-Type could top $5M at Arizona auction

The Jaguar D-Type is an essential element of the marque's history, one of its most successful racing cars, and one of its most beautiful creations. Chassis number XKD 604, pictured here, was the first of six long-nose Jaguar D-Types made for the factory team in 1956. They were, however, far from ubiquitous, with only 53 made for private customers, and another 18 campaigned by the factory racing team. More advanced than the examples that preceded it, this one was equipped with a de Dion rear suspension and fuel injection. It didn't have much of a distinguished racing career to speak of, passing from the factory to the Ecurie Ecosse team in Scotland which kept it in storage for years. After the team's closing, it passed through the hands of two British owners, undergoing a full restoration at the hands of the latter, before trading between two US owners. Although precise pre-sale estimates are available by request to interested parties, RM confirmed to Autoblog that this example "is expected to fetch more than $5 million when it crosses the auction podium in January." According to Sports Car Market, last year the same auction house sold a customer D-Type in Paris for nearly that much. However at its London auction in 2013, another works example failed to sell despite a high bid of over $6.2 million. If this one takes in more than that, it'll set a record for the type. If classic Jaguars aren't your thing, RM also has lined up an enviable roster of Ferraris. Included among them is a yellow '71 Daytona (estimated to fetch over $700k), a silver '91 Testarossa (~$250k), a rare yellow '95 F512 M (~$450k), and a pristine 2011 599 SA Aperta (~$1.3m). Porsche fans will want to check out the '76 911 Turbo (~$250k) and the soft-window '69 911 S Targa (~$225k). With the auction not set to take place until January 28 at the Arizona Biltmore, you can bet there'll be a good number of additional lots consigned between now and then.