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Jaguar Land Rover names ousted Renault boss as new CEO

LONDON — Jaguar Land Rover (JLR) has picked ousted Renault boss Thierry Bollore as its next chief executive, with a mission to return Britain's biggest carmaker to profit after a big hit from the COVID-19 pandemic. Bollore took over at Renault in January 2019 after the fall of Carlos Ghosn, but was always viewed as close to the French carmaker's longtime boss and was pushed out in October when the company was looking for a fresh start. Bollore will take over at JLR on Sept. 10, replacing Ralf Speth, whose tenure ends after more than 10 years. "It will be my privilege to lead this fantastic company through what continues to be the most testing time of our generation," Bollore said in a statement on Tuesday. JLR was hit this year first by disruption to sales in China and then by lockdowns across Europe and North America as the COVID-19 outbreak spread around the globe. In 2019, it cut jobs to address tumbling diesel sales, which helped it return to profit. But as the pandemic struck, it slumped to a pretax loss of 422 million pounds ($545 million) for the year ended March 31, 2020. The company has already taken steps to tackle the crisis, including agreeing to a loan facility of around $700 million with lenders in China and further staff reductions. JLR is also in talks with the British government over potential support, according to media reports. Bollore takes over a business that built just over 500,000 cars in 2019/20. He faces a number of tasks, including how to handle the Jaguar brand, which underperforms the Land Rover marque, how quickly to electrify its lineup and a potential hit from Brexit if trade barriers are imposed. JLR has a partnership with BMW on electrification, and parent company Tata Motors recently recommitted to the company. "Tata Group recognizes and values Jaguar Land Rover's future potential highly," said JLR Chairman Natarajan Chandrasekaran earlier this month. "That is why this company is central to our global automotive presence – a presence that we intend to develop for years to come." Related Video:         (Additional reporting by Chris Thomas in Bengaluru and Gilles Guillaume in Paris; editing by Jason Neely and Mark Potter)

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

Junkyard Gem: 1995 Jaguar XJR

It's not too difficult to find discarded examples of the supercharged-V8-powered Jaguar XJR of the X308 generation, but the earlier X300-based XJR with its blown straight-six is a much more elusive Junkyard Gem. Here's one that just turned up in a Denver self-service knacker's yard. For many years, the Denver Pick Your Part was a funky, muddy operation on an industrial stretch of Federal Boulevard. I bought a lot of parts for various projects and documented dozens of discarded vehicles for this series there. On April first, LKQ moved that operation to a brand-new location a half-mile away and I showed up early to experience the grand opening. I'll miss the old Denver Pick Your Part, even with the treacherous footing, but sometimes even junkyards get junked. The new location is set in a vast asphalt parking lot, which should make it easier for shoppers to get around and extract parts. One of the employees drives this seriously cool Scion xB project, so that's a good sign. As I walked the rows, this two-tone Jag caught my attention immediately. What's going on here? The VIN says it's a genuine XJR, complete with supercharged 4.0-liter straight-six rated at 322 horsepower and 378 pound-feet. That beat the 313-horse V12 in the XJ12 that sat next to it in the showrooms. The supercharger is a member of the same Eaton family that was used in the Ford Thunderbird Super Coupe. This makes sense, because Ford had purchased Jaguar in 1989. The U.S.-market X306 XJR was available only with an automatic transmission; a few hundred with five-speed manuals were sold in Europe. The version we got here was good for 14.9-second quarter-mile times and ran 0-60 in 6.6 seconds— not bad for a car that scaled in at 4,215 pounds. The MSRP was a cool $65,000, or about $134,206 in 2024 dollars. The 1995 XJ12 listed at $77,250, which comes to $159,499 after inflation. This generation of XJR was sold here for just the 1995 through 1997 model years, after which it was replaced by the V8 XJR. Just 6,547 were built. This one received a heavy customization at some point, including big SUPERCHARGED badging. The bonnet is covered with faux carbon fiber, which was all the rage during the early Fast & Furious Era. The upholstery has been redone in well-executed two-tone embroidered leather. I knew there had to be some traces of this car online. Sure enough, Mecum auctioned it in Denver back in the summer of 2015.