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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 Land Rover Special Vehicle Operations could build standalone models

Jaguar Land Rover may be set to turn its Special Vehicle Operations division into something much bigger than a mere in-house tuner. Bloomberg spoke to the head of JLR's high-performance, customization outfit, John Edwards, who hinted that his team may move beyond simply modifying F-Types, Range Rovers and the like. "We're certainly looking at that, and we've got the capability to do that," Edwards told AN. "Is there an opportunity for us to do a completely standalone car? Maybe." Such a move into full-scale, standalone models would be a big step, particularly for a division that's still kind of in its infancy. Bloomberg references the success of Mercedes-AMG, but the German division has had the benefit of decades of growth. AMG spent years and years building high-performance versions of all manner of mainstream Mercedes vehicles, before moving onto cars like the SLS AMG and AMG GT, which have no mainstream analog. In other words, AMG had a long time to develop a reputation building high-performance vehicles that people know and recognize before it moved into building vehicles of its own. We aren't entirely convinced that SpecOps wouldn't benefit from taking a similar approach, delivering additional SVR vehicles, like the rumored XE SVR, before striking out on its own. We'd like to know what you think, though. Is it already time for Special Vehicle Operations to build standalone models, or should it learn to walk before it runs by modifying more of Jaguar Land Rover's existing product. Have your say in Comments. Related Video:

Jaguar F-Pace gets 300 Sport and Checkered Flag special editions

Jaguar has applied the 300 Sport treatment to the F-Pace, as it did with the XE and XF sedans last year, and there's a Checkered Flag treatment for the F-Pace, too. In other markets, the 300 Sport comes with the choice of the 2.0-liter Ingenium four-cylinder gas motor or the 3.0-liter V6 diesel, but we don't get the 3.0-liter diesel in the United States. Exterior tweaks start with dark satin gray trim on the grille and window surrounds, side vents, mirror caps, rear fascia and door finishers. The package wears 22-inch gray wheels and plenty of 300 Sport badges. Three colors are available: Yulong White, Indus Silver and Santorini Black. Inside, yellow contrast stitching on the instrument panel and seats marks the beast, plus embossed logos on the front headrests. The steering wheel, carpet, and sills also get 300 Sport badging. The full-fat Touch Pro navigation with Connect Pro comes standard. Overseas buyers can upgrade with a sliding panoramic roof, but all U.S. F-Pace models come with that. We don't have domestic pricing yet, but UK figures equate to saving almost 50 percent compared to speccing options separately on the gas model, and a savings of about 90 percent on the diesel version. The Checkered Flag Special Edition starts with the R-Sport and adds plenty of gloss black, including 20-inch gloss black wheels. Color choices here are Yulong White, Eiger Grey and Santorini Black. Only the 2.0-liter four-cylinder units get the nod, either the 247-horsepower gas engine or — in other markets — the 237-hp diesel we don't get. Our diesel is a 2.0-liter, 180-hp unit. Spec is a bit reduced compared to the 300 Sport, with 10-way electric front seats instead of 14-way, and the Touch Pro navigation without Connect Pro thrown in standard. A UK buyer would save about 40 percent compared to ordering a la carte.