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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.

Recharge Wrap-up: Tesla store reboot, Jaguar "EV-Type" an electric F-Pace?

The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) program is creating demand for EVs. $1 million has been set aside for rebates ranging from $750 to $3,000 per car, depending on battery size (in addition to federal incentives). Dealers also get an incentive of $150 to $300 per vehicle to help motivate them to promote EVs. "This is the type of program that can be a win-win-win for the state, auto manufacturers, dealers and consumers," says Chevrolet dealer Leo Karl, who has seen a jump in demand for the Volt under the CHEAPR program. Karl expects the funds to run out as early as this fall. Read more at Automotive News. The Mitsubishi Outlander PHEV is scheduled to go on sale in the US in May 2016. As Mitsubishi makes some changes, including plans to ditch its Normal, IL assembly plant, the company's future in the US is being called into question. The new date for the plug-in hybrid version of the Outlander comes after multiple delays. Mitsubishi also plans to offer a 2016 model of the i-MiEV despite slowing sales. Read more at Automotive News. Tesla is overhauling its stores in advance of the Model X going on sale. The revamp includes informative interactive displays and a heavier emphasis on Tesla merchandise sales. The displays provide information about safety, Autopilot technology, the charging network, electric motors and other information to help familiarize customers with Tesla. The Tesla Design Collection - which includes luggage, apparel and other gear - also helps position Tesla as a luxury lifestyle brand, rather than just a mere automaker. Expect the stores to be continually updated over time. "Tesla is able to pivot in their stores the way they release new software," says Cadent Consulting Group's Ken Harris. "This is important to an emerging brand." Learn more from Bloomberg. Could Jaguar be planning an electric F-Pace called the EV-Type to compete with the Tesla Model X? Autocar is reporting that the upcoming SUV from Jaguar could spawn a whole family of vehicles, including an all-electric version. Jaguar has registered the trademark for the EV-Type name, and that vehicle would likely be built at the Magna Steyr factory in Graz, Austria. That would free up capacity to build the traditionally powered F-Pace in the UK. Read more at Green Car Reports, or at Autocar.

2024 Jaguar F-Pace makes more style standard equipment

Jaguar has overhauled its F-Pace offer for global markets, moving the rest of the world to the 2024 model year before the end of 2022. For countries that get the F-Pace P400e PHEV, the good news is the lithium-ion battery's been given an extra cell module to increase capacity to 19.2 kWh. That takes pure electric range from 33 miles to 40 miles on the WLTP cycle. Jaguar says this trim accounts for more than 10% of F-Pace sales globally, a healthy tally considering North America accounts for perhaps a third of global sales and Jaguar doesn't offer its flagship PHEV here yet. In countries that favor electrified vehicles like the Netherlands, Jaguar says uptake can reach 98%. The rest of the F-Pace range has been reworked so that every model gets the R-Dynamic trim package, eliminating the base F-Pace and F-Pace S. In full-featured markets, the trim step from bottom to top goes, R-Dynamic S on 19-inch wheels, R-Dynamic SE on 20-inch wheels, R-Dynamic HSE on 21-inch wheels, 400 SPORT and SVR both on 22-inch wheels, plus a choice of six engines. If this change is applied to our market, we'll be left with the F-Pace R-Dynamic S and F-Pace SVR, and two engines. New standard equipment means better spec for some versions, a TFT digital gauge cluster and the Pivi Pro infotainment system part of the purchase price. The infotainment comes with wireless Android Auto and Apple CarPlay, what3words navigation and Alexa integration. The R-Dynamic SE comes with wireless charging, the R-Dynamic HSE now comes with an Ebony Suedecloth headliner standard. If opting for the Black Pack on models that don't come with it, more external bits are drenched in the dark gloss: grille and grille surround, side mirror caps, fender vents, window surrounds, rear valance and rear badges. Detail changes include wheel center caps going monochrome black and silver instead of red and silver, and the R-Dynamic badge going monochrome black and gray instead of red and green. The 2024 F-Pace can be ordered now outside of North America. Jaguar should let us know soon what goodness we'll be getting. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Jaguar F-Pace SVR Design Walk-Around | Autoblog Short Cuts