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Strong JLR sales in China boost Tata Motors' quarterly profit

BENGALURU, India — Tata Motors Ltd on Friday posted a 67.2% surge in quarterly profit. Sales at its luxury car unit, Jaguar Land Rover (JLR), improved in key market China as the country led a recovery in the global automobile industry from the pandemic. The Indian carmaker had logged losses for three straight quarters as the COVID-19 pandemic dented business in several of its key markets even as it was already dealing with uncertainties around Brexit, weak demand and rising costs. The Brexit trade deal agreed upon in December has avoided the risk of tariffs on automotive parts and finished vehicles, Tata Motors said, adding that JLR remains encouraged by the Brexit trade deal. JLR sales in China jumped 20.2% on-quarter and were 19.1% higher from the year-ago period. Retail sales at the unit, which accounts for most of the company's revenue, were up 13.1% from a quarter ago, but still 9% lower than pre-pandemic levels. The company said it had saved 400 million pounds ($548.96 million) during the December quarter at JLR under Project Charge, taking the total savings to 2.2 billion pounds so far. Tata Motors has set a full-year target of saving 2.5 billion pounds. Consolidated net profit came in at 29.06 billion rupees ($398.52 million) for the third quarter, compared with a profit of 17.38 billion rupees a year earlier. It had reported a loss of 3.14 billion rupees in the previous quarter. The festive season in mid-November, during which Indians typically make big-ticket purchases, also helped overall sales. "Due to a strong festive season and a clear preference for personal mobility, the PV business posted its highest sales in last 33 quarters," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek said. Total revenue from operations rose 5.5% to 756.54 billion rupees.

Jaguar Land Rover to badge vehicles based on horsepower

Add Jaguar and Land Rover to the list of automakers changing their nomenclature due to the realities of engine downsizing. Spy photos of an unreleased Jaguar F-Type model show a badge reading P380 AWD. The letter P evidently refers to Petrol (British for gasoline), and 380 is the engine's horsepower. According to Auto Express, the entry-level F-Type will be badged P300, indicating the power output of its 2.0-liter turbocharged four-cylinder engine. Land Rover is expected to follow suit with the new badging nomenclature. Diesel models will get a D instead of a P, while electric and hybrid models will get an E badge, along with a number corresponding to total system power. So, expect the I-Pace to sport an E400 badge on its hind end. One question we have, though, is how the disparity between mechanical, metric and imperial horsepower will be dealt with. While such power-specific badges are arguably unnecessary, we expect the trend to proliferate as engines continue to get smaller but turbocharging and electrification keep horsepower climbing. At least JLR's badges are easier to understand than the messy way Audi plans to rename its models or the way BMW completely dismisses actual engine size in its naming convention. Related Video: News Source: Auto ExpressImage Credit: Simon Dawson/Bloomberg via Getty Design/Style Green Jaguar Land Rover Convertible Crossover Hatchback SUV Wagon Luxury Performance Sedan jaguar land rover

GM, Audi, Jaguar halt Russian sales amidst ruble's collapse

The value of Russia's ruble currency has sunk like a stone tossed in the Volga for much of the year, losing over 40 percent of its worth since June. The change is having bizarre effects on the auto industry there and leaving some automakers scrambling to adjust. According to Bloomberg, Russians are buying up luxury goods including automobiles at the moment to have a physical investment in case the ruble sinks further. However, with the money worth so little, the companies aren't making much from these transactions. Things are so dire that several automakers are temporarily ending deliveries until the situation stabilizes. According to Bloomberg, General Motors stopped sales on December 16 with no set date to start again. Audi did the same thing but with the intention to resume once it has adjusted model pricing. Jaguar Land Rover terminated business until December 19 to see how things changed. Toyota is increasing its pricing, as well, but keeping business open at the same time. Some automakers have subtly been reacting to the slumping Russian auto market all year. The moves have included Volkswagen cutting production by 30,000 units from its factory in Kaluga. Ford also got rid of 950 workers from two plants due to low demand. Some analysts have even speculated that the contracting industry and possibility of lower import duties into the country could cause companies to end their manufacturing in Russia completely.