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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.

Lexus leads J.D. Power's Vehicle Dependability Study for 2021

J.D. Power's latest Vehicle Dependability Study is out, and, not surprisingly, Lexus sits at the top for the ninth time in the last 10 years. Right behind Lexus is Porsche, followed by Kia, which is the highest-ranked mass-market brand in the study. Genesis, last year's top-ranked brand (in its first year included in the results), fell from first to eighth, though the G80 sedan did earn an award in its midsize luxury segment. The Porsche 911 was called out as the Most Dependable Model by J.D. Power for the second time in the last three years. The vehicles being studied are from the 2018 model year, which means owners have had three years to get to know their cars and trucks. It's notable that this year's study shows a marked improvement in overall vehicle dependability as tracked by J.D. Power. The overall level of problems, scored by the number of problems per 100 vehicles (PP100), declined by 10% compared to last year.  "The study results validate what we have known for some time," said Dave Sargent, vice president of global automotive at J.D. Power. "Automakers are making increasingly dependable vehicles — but there are still some problem areas that need to be addressed and some warning signs on the horizon." Tesla makes its inaugural appearance on the Dependability Study, though its score of 176 PP100 isn't official. Tesla is the only automaker that has chosen not to grant J.D. Power permission to survey its owners in all 50 states. As we've pointed out in the past, the Vehicle Dependability Study includes eight major vehicle categories grouped by J.D. Power as follows: audio/communication/entertainment/navigation (ACEN); engine/transmission; exterior; interior; features/controls/displays (FCD); driving experience; heating, ventilation and air conditioning; and seats. All issues reported by owners are all tracked equally, which means a problematic phone pairing procedure dings an automaker's rating the same as a blown engine or transmission. And in fact, the ACEN category has more reported problems than any other, which means the majority of problems reported don't lead to a vehicle that leaves its owner stranded. Green Land Rover Lexus Porsche Car Buying JD Power dependability reliability

Tesla layoffs, new safety mandates, and a bumper crop of V12s! | Autoblog Podcast #830

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a gasoline-powered installment. They lead off by diving into the Tesla layoff news from this week before leaving electrification behind for a bit to talk about not one, but two production V12 unveilings. This isn't a drill, folks; Aston Martin and Ferrari are both committed. After that, they touch on the U.S. government announcement that it would mandate automatic emergency braking systems starting in 2029. They finish up the news segment with a chat about Fisker. Poor, poor Fisker. From there, it's on to the road tests. The Autoblog team has been testing out some EVs and both Byron and Greg had some thoughts to share, plus we get a final update from Byron on the long-term Subaru WRX and some notes from both drivers about the updated Range Rover Evoque.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #830 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Axing Tesla's Supercharger department raises worries as other automakers join network Fisker tells its staff that four companies are interested in buying it Ferrari confirms the 812 Superfast's successor will keep the V12 alive Aston Martin isn't done with V12s, it redesigns the engine U.S. to require automatic emergency braking on new vehicles What we've been driving 2024 Hyundai Ioniq 6 2021 Tesla Model Y 2024 Range Rover Evoque Long-term Subaru WRX Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Government/Legal Green Podcasts Aston Martin Ferrari Hyundai Land Rover Subaru Tesla Convertible Coupe Crossover SUV Electric Performance Sedan