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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.

Jaguar Land Rover UK factories could shut down in two weeks due to coronavirus

COVENTRY, England — Jaguar Land Rover has enough parts from China to maintain its British production for the next two weeks but not beyond that at the moment, Chief Executive Ralf Speth said on Tuesday. Britain's biggest carmaker, which operate three car factories in its home market, joined major global companies such as Apple in warning of the impact of the virus on supply chains. The rapidly spreading virus has killed nearly 1,900 in China and stricken some 72,000 people, confining millions to their homes, disrupting supply chains and delaying reopening of factories after the extended Lunar New Year holiday break. "We are safe for this week and we are safe for next week and in the third week we have... parts missing," said Speth when asking about the potential impact on British production. He said the firm's Chinese factory would open next week and was "safe for the very first week." Sales were not currently happening in China and it was unclear when they would return, he added. The boss of Tata Motors, JLR's parent company, speaking at the same event, said the company does not have sufficient visibility regarding parts suppliers from China. "We are safe for the month of February and for a good part of March," said Guenter Butschek. "Are we fully covered at this point of time for the full month of March? Unfortunately...not." Related Video:

Jaguar tests autonomous vehicle technology with 100-car fleet

Jaguar Land Rover is exploring how to take autonomous vehicle technology off the paved path. But the company has plans for technology on tarmac, too. The company announced that the Jaguar division will have a fleet of 100 cars testing autonomous technologies on public roads. The testing process will cover a period of four years and begin with vehicle-to-vehicle and vehicle-to-infrastructure communication systems, along with a stereo camera system and autonomous vehicle software. These systems will work together to provide a variety of features that could make their way into future Jaguars and Land Rovers. The first feature in development is called "Roadwork Assist." The system relies on the stereo camera to create a 3D image the car's software can analyze. The software can identify road cones and other barriers associated with construction sites. The car will then alert the driver about entering the construction zone and provide some steering assistance to keep the car centered in its lane. Tony Harper, Jaguar's head of research, said that this system can reduce stress on the driver, and the technology could eventually be used to allow the car to pilot itself through construction zones. Another of Jaguar's proposed features is "Safe Pullaway," which also relies on cameras and software. The Safe Pullaway feature is designed to prevent close-proximity collisions in traffic jams and even in the garage. To do this, the car watches the area immediately ahead of it for obstacles. If the car detects something nearby while the driver adds throttle or shifts into gear, it will apply the brakes to prevent driving into the object. The final project on Jaguar's plate is its "Over the Horizon Warning" system. This will be one of the first features to rely on Jaguar's vehicle-to-vehicle communication technology. The idea is that connected cars in constant communication will give drivers additional warning of upcoming hazards, such as out-of-sight animals and slowed or stopped cars. In Jaguar's example of a stopped car, the stationary vehicle would send a signal alerting approaching cars of the situation. In turn, the approaching vehicles would trigger audible and visual warnings to drivers about the hidden car. Jaguar says that the system could also be applied to emergency vehicles. Emergency vehicles would broadcast a signal to alert drivers well before the lights and sirens get their attention. This would give emergency vehicles a faster, safer path through traffic.