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Jaguar Land Rover names ousted Renault boss as new CEO

LONDON — Jaguar Land Rover (JLR) has picked ousted Renault boss Thierry Bollore as its next chief executive, with a mission to return Britain's biggest carmaker to profit after a big hit from the COVID-19 pandemic. Bollore took over at Renault in January 2019 after the fall of Carlos Ghosn, but was always viewed as close to the French carmaker's longtime boss and was pushed out in October when the company was looking for a fresh start. Bollore will take over at JLR on Sept. 10, replacing Ralf Speth, whose tenure ends after more than 10 years. "It will be my privilege to lead this fantastic company through what continues to be the most testing time of our generation," Bollore said in a statement on Tuesday. JLR was hit this year first by disruption to sales in China and then by lockdowns across Europe and North America as the COVID-19 outbreak spread around the globe. In 2019, it cut jobs to address tumbling diesel sales, which helped it return to profit. But as the pandemic struck, it slumped to a pretax loss of 422 million pounds ($545 million) for the year ended March 31, 2020. The company has already taken steps to tackle the crisis, including agreeing to a loan facility of around $700 million with lenders in China and further staff reductions. JLR is also in talks with the British government over potential support, according to media reports. Bollore takes over a business that built just over 500,000 cars in 2019/20. He faces a number of tasks, including how to handle the Jaguar brand, which underperforms the Land Rover marque, how quickly to electrify its lineup and a potential hit from Brexit if trade barriers are imposed. JLR has a partnership with BMW on electrification, and parent company Tata Motors recently recommitted to the company. "Tata Group recognizes and values Jaguar Land Rover's future potential highly," said JLR Chairman Natarajan Chandrasekaran earlier this month. "That is why this company is central to our global automotive presence – a presence that we intend to develop for years to come." Related Video:         (Additional reporting by Chris Thomas in Bengaluru and Gilles Guillaume in Paris; editing by Jason Neely and Mark Potter)

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.

2021 Jaguar F-Pace First Drive Review | A jam-packed update with a lot to like

As one of Jaguar’s top-selling models, the F-Pace serves as an unofficial ambassador for the brandÂ’s lineup as a whole. Its rather dramatic 2021-model-year makeover coincides with an effort by Jaguar (and sister brand Land Rover) to significantly overhaul its product offerings in an attempt to adjust to changing customer tastes. Consequently, the list of updates to the 2021 F-Pace reads like what youÂ’d expect from a complete redesign, rather than a mere mid-cycle refresh. To give you an idea of how dramatically Jaguar is streamlining its offerings, consider this: In 2020, Jaguar sold 12 variants of the F-Pace. Starting in Â’21, that drops to five: P250, P250 S, P340 S, P400 R-Dynamic S and the top-dog SVR. We say the 2021 model year, but thanks to COVID and the resulting supply disruptions, the timelines went a bit wonky. In just a few weeks, Jaguar will have 2022 models hitting showrooms. With the exception of the SVR, each model in the F-Pace lineup is named for its approximate power figure (in PS, because it has to be a little quirky for the American audience, right?). P250 models come with a turbocharged four-cylinder making 246 horsepower and 269 pound-feet of torque. The P340 and P400 R-Dynamic S utilize Jaguar Land RoverÂ’s new 3.0-liter, 48V mild-hybrid inline-six. The P340 offers 335 hp and 354 lb-ft, while the P400 R-Dynamic S packs 395 hp and 406 lb-ft of torque. The SVR gets a supercharged 5.0-liter V8 with 550 horses and 514 lb-ft. All engines are coupled to an eight-speed ZF automatic transmission and rear-biased all-wheel-drive system. Unlike JaguarÂ’s sedans and coupes, its crossovers arenÂ’t offered in RWD form. While the F-Pace received a handful of styling tweaks for 2021, the most noteworthy changes are inside. Just about everything in the cabin is new or updated, from the dash to the center console and even the steering wheel. The new design is more angular, with horizontal lines replacing some of the sweeping curves found in the 2020 edition. At the center of all this is JLRÂ’s updated Pivi Pro infotainment system, which is much prettier, snappier and easier to use than the one it replaces. Speaking of replacements, Jaguar chucked the F-PaceÂ’s rotary gear selector in favor of a more conventional shift knob – a welcome reversion, and one that is happening throughout the JLR portfolio. Elsewhere, the interior looks clean, sharp and upscale, but weÂ’d shop short of calling it characterful.