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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.

Road & Track names its 2013 Performance Car of the Year

Road & Track recently staged its first annual Performance Car of the Year test, pitting 13 new and updated performance cars against each other on track, then graduating the top six to a road test before picking a winner. Additionally, the magazine staff picked the best automobiles of the year in eight categories.
But first, let's cover the PCotY segment. Here's the list of cars brought to the comparison test: Audi R8 V10 Plus; BMW 435i; BMW M6 Competition Package; Chevrolet Corvette Stingray Z51; Ferrari F12 Berlinetta; Ford Fiesta ST; Jaguar F-Type V8 S; Jaguar XFR-S; Mercedes-Benz E63 AMG S-Model Wagon; Mercedes-Benz SLS AMG Black Series; Mini John Cooper Works GP; Nissan GT-R Track Edition; and Porsche Cayman S.
To find out the results of the comparison, head over to Road & Track's website or check the press release below, where you'll also find the magazine's top-rated vehicles in eight categories. Want more? Head over to the 2013 PCotY hub. But before you do that, take a stab at guessing the winner of PCotY (we'll give you one hint: it isn't a Porsche).

Lister teases 675-hp, 200-mph Stealth SUV

In the middle of 2018, Lister unveiled what was then called the LFP, intended to be the world's fastest SUV. The initials stood for Lister F-Pace and the dark green hulking beauty was based on, surprise, the Jaguar F-Pace SVR. Except where the F-Pace SVR used a supercharged 5.0-liter V8 producing 550-horsepower to claim a 176-mile-per-hour top speed, the LFP would wring that engine out to 675 horsepower in order to hit 200 miles per hour. Since that time, Lister's rolled out other models such as the F-Type convertible-based LFT-C 666 and Knobbly roadster continuation cars. At last, the LFP is ready for primetime, and it brings the new name of Lister Stealth with it. According to CEO Lawrence Whittaker, all the firm is waiting on is for the UK's lockdown to end, then the high-rise double-ton party can start. For now, we have a teaser video with a few quick visuals of the dangerously aggressive bodywork and a microphone-melting clip of someone dancing on the throttle. Save for the audio distortion, it looks and sounds superb. The ingredients of the transformation from F-Pace SVR to Stealth remain secret. As Pistonheads pointed out, the 675-hp Lister Thunder, based on the F-Type SVR hardtop, installed a new supercharger pulley, air filter and intercooler, a freer exhaust, and a remapped ECU to unlock 100 more horses. It's reasonable to expect the same template as a starting point for the Stealth. If the crossover can hit its 3.5-second mark from zero to 62-miles per hour, it will beat everything we can think of that isn't a Tesla, and the Stealth will top all comers if it nails the promoted top speed. Whittaker said production stops at 250 units, with orders having already come in. The price starts at "around GBP140,000," equal to about $175,000 greenbacks. Tiff Needell, who raced Lister cars in the 1990s, has been lined up for video presentation work once the proper launch takes place. If we're lucky, Needell will be the one to show and tell us what the Stealth can do, occasionally sideways, with lots of smoke. Related Video: