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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.

Jaguar prices 2020 F-Pace range, starting at $46,225

The 2020 Jaguar F-Pace lineup includes two new limited-edition models, and every model comes with Android Auto and Apple CarPlay standard. The crossover has finally acquired its most crucial numbers, the MSRPs. Starting price for the entry-level F-Pace 25T, powered by the lesser 2.0-liter turbocharged four-cylinder Ingenium engine begins at $45,200. Add the unchanged $1,025 destination charge and the total comes to $46,225, which is $400 more than the 2019 model. The Premium, Prestige, and R-Sport trims go up by the same amount for both the 25T and the 30T models — the 30T powered by the 296-hp version of the 2.0-liter Ingenium turbo four. Premium increases by $550, Prestige by $350, and R-Sport by $300. That makes the least-dear 25T Premium a $48,825 affair. The 30T Portfolio model costs $64,625 for 2020, a $300 bump over 2019. The S raises the stakes by the same amount, to $63,125. The flagship F-Pace SVR with its 5.0-liter supercharged V8 and 550 hp tacks on the largest price jump of $620, for a total of $81,625. The limited edition trims are the previously announced 300 Sport and Checkered Flag. In the U.S., the 300 Sport comes exclusively with the 296-hp 2.0-liter Ingenium four-cylinder, and exterior revisions like dark satin gray trim on the grille and window surrounds, side vents, mirror caps, rear fascia and door finishers. Inside, yellow contrast stitching on the instrument panel and seats marks the beast, plus embossed logos on the front headrests. The full-fat Touch Pro navigation with Connect Pro comes standard. The crossover sits on 22-inch gray wheels and wears plenty of 300 Sport badges throughout. Three colors are available: Yulong White, Indus Silver and Santorini Black. It takes $63,025 to start the bidding. The Checkered Flag Special Edition is based on 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. The 247-hp four-cylinder get the nod, along with 18-way adjustable front seats, the Touch Pro navigation without Connect Pro but with the Meridian audio. It costs $59,4258

The Lister SUV-E is a faster Jaguar I-Pace

The Jaguar I-Pace is getting a bump from Lister. Yes, Lister of all companies is going to be selling a limited amount of what it calls the Lister SUV-E. It’s more than just some splotches of paint and a higher price tag, too. Lister says it gave the Jag a software update, resulting in more horsepower and torque over a standard I-Pace. We donÂ’t know how much more, but Lister is promising a 0-60 mph time of four seconds. ThatÂ’s 0.5 second quicker than a normal I-Pace, so Lister obviously made a significant difference with its tune. However, Lister also managed to remove 220 pounds from the I-Pace through various lightweighting efforts, bringing the curb weight down to 4,482 pounds. So, itÂ’s still heavy, but weÂ’re sure this will feel just a hair better in every way. Carbon fiber parts are the main source of weight loss. Lister has used the lightweight material for the front bumper, hood, splitter, rear bumper, roof spoiler and rear diffuser. Carbon ceramic brakes and titanium wheels lower the unsprung weight of the car, too. Strangely, Lister says it has a “more aggressive exhaust sound.” WeÂ’re not sure what that is going to consist of, but it could be cooler than the spaceship electric noises the I-Pace makes as of now. A fully-adjustable suspension should also aid handling — Lister says itÂ’s even lower than the regular I-Pace. All of this goodness will cost you, as the Lister is going to be priced at GBP125,000. ThatÂ’s $161,025 converted to American dollars. Yowza.  Green Jaguar Crossover Hatchback Electric Luxury Performance