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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.

Daily Driver: 2015 Jaguar XJL AWD

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers who drive them every day. Today's Daily Driver features the 2015 Jaguar XJL AWD, reviewed by Seyth Miersma. You can watch the video above or read a transcript below. Watch more Autoblog videos at /videos. VIDEO TRANSCRIPT: [00:00:00] Hey everybody, it's your old pal Seyth here with Autoblog. I am in the 2015 Jaguar XJL. That L is for a long-wheelbase. The engine powering this car is the 3.0-liter supercharged V6. My cameras inside probably didn't pick up a lot of that, but the supercharged 3.0-liter does have a nice little growl to it, especially in sport mode [00:00:30] where I'm staying higher in the rev range. It doesn't have that same big, luxurious, meaty, whoofly V8 sound as the naturally aspirated 5.0-liter used to. At 340 horsepower, 332 lb-ft of torque, this engine has everything that you need. I think that they say the 0 to 60 time is around six seconds. Frankly, the car feels a little bit faster even that that. Again, we're talking about a large long-wheelbase car here. What's particularly interesting and [00:01:00] relevant to the weather that you see behind me right now, is that this car is not rear-wheel drive. It is in fact all-wheel drive. Even going into this, knowing obviously that I was in an all-wheel drive car, the first drive really reveals it to handle a lot like a rear-wheel drive vehicle. That's appropriate. That's what you want in a car of this class. Something very luxurious and that has a reputation built on sporting dynamics as opposed to sort of just comfort and refinement. [00:01:30] Jaguar's goal with an all-wheel drive system like this is to make the car still feel very much like a rear-wheel drive vehicle but give you just enough ability to be able to pull out of a corner smartly when the grip is a little bit lower than you'd expect it to be. Obviously if there's some snow on the ground, that's a helpful thing. Or on a day like today, when I'm coming out of a corner on a slightly slippery road, being able to put the power down is advantageous. To be honest, so far the application has been really seamless. The power seems to be [00:02:00] flowing from the engine just to the rear wheels. I feel like I'm getting a little bit of assist, right now I'm entering a corner at a moderate speed and not really slipping at all. It feels like a rear-wheel drive car. I've always loved this XJ.

Jaguar ousts Lexus from atop J.D. Power 2013 Sales Satisfaction Index

Jaguar has taken the top spot among luxury brands in the 2013 Sales Satisfaction Index, an annual survey conducted by J.D. Power that measures customer satisfaction with the experience of purchasing a new vehicle. The English brand, not even among the top three luxury automakers on the list last year, vaulted ahead of Lexus, which placed third this year after leading the list in 2011 and 2012. Porsche, meanwhile, moved into second place.
The rankings are based on a point score out of 1,000, with Jaguar earning 740 points, Porsche right behind with 739 and Lexus with 737. Volvo, meanwhile, made the biggest improvement among luxury brands with a 30-point jump to 708, bring it up from 11th place to 9th this year.
J.D. Power has a separate ranking for mass-market brands, and this year Mini again tops the list with a score of 718, far outpacing second-place Buick with a score of 694 and making it the fourth time Mini has lead this list. After Buick, the next two ranked brands are both American and both from General Motors, with Chevrolet and GMC sharing third place with a score of 686.