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Jaguar Land Rover undergoes $3.2 billion turnaround plan as sales slump

MUMBAI — India's Tata Motors on Wednesday announced a turnaround plan for its luxury car unit Jaguar Land Rover, which has been hit hard by trade tensions between China and the U.S., low demand for diesel cars in Europe and worries over Brexit. Under "Project Charge," Tata Motors said it plans to cut costs and improve cash flows at Jaguar Land Rover (JLR) by 2.5 billion pounds ($3.2 billion) over 18 months. JLR also plans to launch several new vehicles, including the Jaguar I-Pace and the new Range Rover Defender over the next few years and will offer a hybrid or full-electric version of all its models by 2020. "Together with our ongoing product offensive and calibrated investment plans, these efforts will lay the foundations for long-term sustainable growth," JLR CEO Ralf Speth said after Tata Motors reported a quarterly loss. JLR has trimmed its pre-tax profit expectations for the current fiscal year ending March 31, 2019, and expects to break even, Speth said, versus an earlier target of profit growth. As part of the turnaround plan, JLR will first focus on cash-saving "quick wins" like reducing non-product investments and speeding up asset sales, Tata Motors said in an investor presentation. In the near term it will improve efficiency in areas including purchasing and material cost, manufacturing, logistics and people, and will focus on strategic and non-core asset sales. JLR has already reduced the number of production days at its UK plants in Castle Bromwich and Solihull. The company said in its presentation it has saved 300 million pounds since it initiated the turnaround plan six weeks ago and is working on 500 ideas for the future. Tata Motors reported a loss of 10.49 billion rupees ($141.9 million) for the July-September quarter, compared with a profit of 24.83 billion rupees in the year-ago period. That was worse than the estimate of a loss of 2.40 billion rupees, according to Refinitiv data. JLR reported a loss of 101 million pounds during the quarter and its margin on earnings before interest, tax, depreciation and amortization (EBITDA) fell 130 basis points to 9.9 percent. Retail sales of its Jaguar sedans and Land Rover sport utility vehicles (SUVs) fell 13.2 percent to about 130,000 units, hurt particularly by tariff changes in China and escalating trade tensions. Demand in China remained muted even after the country cut import tariffs for cars and car parts to 15 percent for most vehicles from 25 percent from July.

Driving the 2024 Lexus GX and Land Rover Defender 130 | Autoblog Podcast #818

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick. We kick off the week by reviewing cars we've been driving, including the new Lexus GX, Land Rover Defender 130 Outbound, Jaguar F-Pace, Hyundai Kona and our long-term Subaru WRX. Next, we break down the best wagons of the 21st century, before discussing the Audi Sport RS6 GT. Finally, we discuss a bit of the 2024 Chicago Auto Show. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #818 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 Cars we're driving 2024 Lexus GX 2024 Land Rover Defender 130 2024 Jaguar F-Pace 2024 Hyundai Kona Long-term 2023 Subaru WRX Audi reveals the ultra-limited 2025 RS 6 GT 2024 Chicago Auto Show 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: 2024 Lexus GX 550 Overtrail is a more capable off-roader and looks the part

Watch a Jaguar F-Type R drag a parachute at 186 mph

With carbon-ceramic brakes on offer, the Jaguar F-Type R Coupe can shed off speed even faster than it can rack it up. Even the standard steel rotors do a pretty good job of it. But what would happen if you deployed a parachute out the back of the Jag at 186 miles per hour, like you might with a drag racer? That's what the British automaker has found out in this latest video. And just why would they do such a thing, you ask? Because Bloodhound, that's why. Jaguar is providing technical support to the Bloodhound SSC land speed record attempt, and one of the roles into which the F-Type has been pressed is to check the parachute that will (along with the air brakes and rotors) form an integral part of the jet- and rocket-powered vehicle's run. To make sure the chute would do its job, the team put Royal Air Force pilot Andy Green behind the wheel of the specially equipped F-Type at the RAF air base in Bentwaters, Suffolk, UK, had him speed down the runway up to the car's top speed and deploy the chute. Fortunately, as you can see from the minute-long clip, everything seemed to have gone according to plan – though we're not sure about the logic behind the assertion that if "it worked at 180, it will definitely work at a thousand miles an hour." Related Video: Jaguar F-TYPE Performs Mission Critical Parachute Deployment Test for British World Land Speed Record Challenger Bloodhound SSC 12 June 2015 - World land speed record holder Andy Green drives an F-TYPE R Coupe at top speed of 186mph to test Bloodhound SSC's parachute deployment system - The test continues Jaguar's technical partnership in the world land speed record attempt, following a high-speed communications test run in South Africa in 2014 - Jaguar will be at the heart of Bloodhound SSC providing its 5.0-litre 550PS supercharged V8 engine to power the rocket's oxidiser pump Today, Jaguar and the world land speed record holder RAF Wing Commander Andy Green performed vital high-speed parachute tests as part of the company's on-going technical support for this unique engineering adventure: creating a car that can cover a mile in just 3.6 seconds. The jet and rocket powered car, which aims to surpass the current record of 763.035mph before targeting 1000mph, has multiple braking systems including air-brakes ('doors' mounted on the side of the car which open to increase aerodynamic drag) and disc brakes (used when slowing down from 200mph).