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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 is ready for the future, and its cars look the part thanks to Ian Callum

There are few living legends in the car business. Jaguar design director Ian Callum is one of them. The longtime stylist announced Tuesday he's stepping down after a decorated career that's seen the resurgence of Jaguar and its again superlative design. Callum, who turns 65 in July, has overseen Jaguar design for 20 years and shepherded it from an era of mediocrity and uncertainty to success with its current lineup of eye-catching products. The brand's 1990s and 2000s cars, led by the haggard X-Type, were too-often forgettable. But in the last decade, Callum has completely flipped the script, returning Jaguar to its sports-car roots with the F-Type while embracing the new period of electric vehicles and crossovers. "Yesterday I told my team I was leaving as Design Director for Jaguar after 20 years. I've done what I set out to do. Time for a new adventure. I pass the baton onto my good friend and great designer Julian Thomson...." Callum tweeted Tuesday. Thompson, a 19-year veteran of Jaguar takes the reins from Callum, who is staying on as a consultant. The move takes effect July 1. As Callum notes, it's not a retirement, though he didn't elaborate. "Given the strength of both our products and the design team I feel that now is the right time to move on, both personally and professionally, and explore other design projects," he said in a statement. The Scottish-born designer studied at the Royal College of Art and was steeped in the tradition of Jaguar and British cars. He had every reason to resist change. He didn't, instead evolving his dream job into an instrument of evolution, and today Jaguar has the most well-rounded portfolio in its history. With EVs like the I-Pace the brand has an elegant and efficient car capable of taking down Tesla, while the F-Pace and E-Pace crossovers are bringing Jaguar to a new kind of customer. "In my view, the World Car Design of the Year winning F-Type, F-Pace and I-Pace – true game changers – are perhaps his greatest achievements. I believe they will be future icons," Jaguar Land Rover chief executive Ralf Speth said in a statement. Through it all, Callum never lost focus on Jaguar's sense of purpose. Along with Aston Martin, McLaren and Rolls-Royce, Jaguar holds a place in Britain's car culture and broader identity. He recognized when Jaguar rolled out a sports car openly tapped as the successor to the E-type – and then called it the F-Type – it carried the weight of history on its aluminum chassis.

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