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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.

More than 30 vintage Jaguars found, forgotten for decades in a greenhouse

A long, long time ago, some unnamed person realized that storing motorized precious metals in a barn would eventually be passe. This visionary hoarder decided, instead, to collect an assemblage of more than 30 vintage Jaguars in a greenhouse in Beaulieu, England. To passers-by, it would look like someone was tending a crop of blue tarps. To us, thanks to Beaulieu Garage, it looks not like a barn find but rather the first "greenhouse find." The classic car restoration shop wrote in a Facebook post, "we were asked to help clear a private collection of cars," and when Beaulieu Garage saw the array, "An offer was made," and now it has a whole lot of rusted metal looking for good homes. It took a week to get everything out, and the shop said the "parts alone have taken up 12 storage racks, with engines and gearboxes included." While a barn isn't the best place to park a car for decades, a greenhouse is arguably worse. The glass house is a combination of maximum UV levels and rain forest humidity, the ambient moisture free to rust and rot everything the sun can't kill. And early Jaguars aren't known for robust defenses against the elements. Most of the cars are E-Types, many of those the early and more elegant 1960s models. Among the trove are some cars that "you could probably get running in a couple of days," but the photos show there are plenty of long-term projects that rate effort comparable to The Pacific Campaign. Incredibly, Beaulieu Garage is confident that "All will see the road again," assuming the worst problem children can find empathetic buyers. The first salable car has been listed, a left-hand drive, 1960 XK150 3.8-Liter Drophead Coupe with matching numbers that was originally sent to New York. This is said to be the last XK150 the factory painted a cream color, and the fourth-last XK150 ever built. Scraps of the red leather interior remain, the sand colored top looks to be in the same condition. After eight years in the greenhouse, Beaulieu Garage charmingly describes the XK's previous digs as "Dry Stored in the UK." The convertible comes with a heritage certificate, and will cost GBP40,000 ($52,654 U.S.) to trailer home. A Facebook post from today says the shop will get parts lists and pricing up shortly, so stay tuned if you have a lot of time and money you need to find occupations for.

Junkyard Gem: 1997 Jaguar XK8 Convertible

Jaguar sold the mighty XJS grand tourer from the 1976 through 1996 model years, and I've documented quite a few of them in their final parking spaces. For 1997, the replacement for that legendary car finally arrived, in the form of the oft-delayed XK8. Here's one of those first-year cars, found in a self-service yard in Denver, Colorado recently. Development of this car's platform and general shape goes back to 1980, when endless prototypes were built and forgotten. Once Ford took over Jaguar in 1990, the abaondoned XJ41 project was revived and became the 1994 Aston Martin DB7. Fast-forward three years and you get a Jaguar-badged cousin of that car. The 1997 XK8 could be purchased in coupe or convertible form. The top on this car has seen better days. How much, you ask? A cool $69,900, which would be around $130,165 in 2022 dollars. If you wanted the Aston Martin DB7 Volante convertible that year, the price tag was $135,000 ($251,395 now). As we've seen in this series, sophisticated European machinery requires fastidious maintenance on the dot, or you get hit with repair bills larger than the car's value once it hits age 10 or so. Once a car like this reaches its fourth or fifth owner, the Clock of Doom starts ticking very loudly if it was ever neglected prior to that. It appears that preparation for body and paint work took place but was never completed. The engine is a 4.0-liter Jaguar DOHC V8 rated at 290 horsepower, same as the one in the XJ8. In 1998, a 370-horse supercharged version known as the XKR became available. The Lincoln LS and 2002-2005 Ford Thunderbird got a de-bored 3.9-liter version of this engine. The transmission in 1997 was a mandatory five-speed ZF automatic, regardless of which side of the Atlantic you lived on. In fact, every street XK8 ever built had an automatic when it left the assembly line (though I'm sure some three-pedal swaps have been performed by now). These cars aren't exactly common in your local Ewe Pullet, but they are out there.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. As some 24 Hours of Lemons racers in Texas discovered, you can buy a DB7 shell cheap at auction and then bolt in everything you need to make it a runner by stripping an even cheaper XK8 donor car.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A new breed of Jaguar. This content is hosted by a third party.