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Jaguar Land Rover parent Tata posts a loss over coronavirus

BENGALURU — India's Tata Motors posted a wider loss for the September quarter on Tuesday as the COVID-19 pandemic sapped demand in several of its key markets. The global health crisis has hammered sales for automakers worldwide and compounded problems for Tata Motors, which was trying to improve Jaguar Land Rover (JLR) sales amid weak demand and uncertainty related to Brexit. Tata Motors reported a consolidated net loss of 3.14 billion rupees ($42.47 million) for the second quarter ended Sept. 30, compared with a loss of 2.17 billion rupees a year earlier. Retail unit sales at luxury car unit JLR, which rakes in most of the company's revenue, was down nearly 12% for the reported quarter. Tata Motors, however, said it expects JLR sales to gradually improve. "Despite concerns around the risk of a second wave of (COVID-19) infections ... we expect a gradual recovery of demand and supply in the coming months," the carmaker said in an exchange filing. Total revenue from operations fell 18.2% to 535.3 billion rupees. Tata Motors said it was committed to achieving near-zero net automotive debt in the coming years. Shares of Tata Motors ended 1.46% higher on Tuesday while the broader Mumbai market settled 1.03% higher.

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.

Lister LFT-C brings 666 horsepower to the Jaguar F-Type

Lister just announced a limited run of its LFT-C Jaguar F-Type conversion cars. It made 99 of the coupes in this spec, but now there will be 10 convertibles available for purchase worldwide. The LFT-C name further confuses Lister's naming for this car, which was initially known as the Thunder, then morphed into the LFT-666, and now these new convertibles are called LFT-C. We would've just stuck with Thunder all along and called this one a Thunder convertible. It makes the same 666 horsepower as the Lister F-Types before it, but that's still substantially more than the 575 horsepower out of the F-Type SVR. Lister does a lot of its own work to the 5.0-liter supercharged V8 to eke out the extra horsepower on top of what Jag is able to do with its performance division at the factory. The nice part of this aftermarket work is that it still comes with a seven-year warranty from Lister, so it's similar to a new car powertrain warranty. This should give you some peace of mind when dashing to 62 mph in just over three seconds. Related: Lister Knobbly roadster gets green light for production There's more than just engine work done to the LFT-C, though. Lister has designed its own suspension, exhaust, braking system and wheels to bring the rest of the car up to snuff. Carbon fiber body panels replace everything from Jaguar where possible. Other Lister design touches on the exterior include a new front bumper, front splitter, rear diffuser, rear spoiler, rear wheel arches, a new grille design and lightweight alloy wheels fitted with Michelin tires. Lister is differentiating this 10-car run by adding in a unique interior, but customers can request anything they desire on the customization front. With so few cars available, it's unlikely to see one on this side of the world after being manufactured in the U.K. That said, we asked Lister, and they said you can buy one here. Base price for the LFT-C is a cool $182,995, and that's only where it starts. We're sure customization options will allow it to skyrocket from there. The price for a base F-Type SVR Convertible is $127,725, so you're looking at a hefty premium over the donor car for what Lister has to offer. The LFT-C is available to order now.