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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.

Jaguar launches the new E-Pace into a barrel roll | Autoblog Minute

After months of testing – some of which we caught in spy photos – and a little teasing, Jaguar has officially entered the compact crossover space with the launch of the 2018 E-Pace. And it was a fairly grand entry, too.

Lexus RC F takes star turn in 'Men in Black: International' blockbuster

Here's a little car candy for the holidays. There have been three :Men in Black" films, the last one in 2012 (even though it seems a lot longer ago, doesn't it?). "Men in Black: International," due for release on June 14, looks like it will showcase its vehicles in a way the previous movies didn't, starting with getting the Lexus RC F ready for its close-up. This will be Lexus' second blockbuster turn in two years, after putting an LC in the line of fire in this year's "Black Panther". And if "MIB: International" gives off the whiff of petrol, that's at last partly because F. Gary Gray directs, the man behind 2003's "The Italian Job " and 2017's " The Fate of the Furious." This is the first "MIB" to give the agents a whiz-bang modern car. The most modern vehicle previously was a "new hotness" 2003 Mercedes-Benz E550 in the 2002 sequel, but that was primarily a joke referring to the 1986 Ford LTD, referred to as a "Ford P.O.S.," in the first movie. The third film, which took place in the sixties, used a 1964 Ford Galaxie. "MIB: International" includes a few throwbacks to the movies and the television series. The RC F goes airborne with the help of a big red button, just like that '86 LTD. A bigger and better hovercycle ties into the hovercycle from the TV show. The all-new move comes with a mid-seventies Jaguar XJ; whereas the first agents merely retrieved their weapons from the trunk, the XJ not only holds weapons, it disassembles into weapons systems. As Jalopnik noted, in many ways this movie " looks just like 'Thor: Ragnarok' but set in a different universe." Should go well enough with a bucket of popcorn and pail of Coca-Cola, though. Related Video: