1959 Jaguar Xk 3.4-liter Drophead Coupe Special Equipment on 2040-cars

Auto blog

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.

Jay Leno gets reacquainted with the Bertone Pirana

Jay Leno gets all manner of vehicles stopping by his garage – some more rare than others, but this one is an entirely unique creation unearthed from another time. It's the Pirana, a one-off commissioned by a British newspaper in the late Sixties that we actually found listed on eBay a few years back. It was built atop a Jaguar E-Type, but with custom bodywork designed by Marcello Gandini and crafted by Bertone. The result looks like a Maserati Ghibli or Lamborghini Espada of the same era, but actually came out just before either, previewing the Italian exotics that would follow from Gandini's pen and Bertone's carrozzeria. The Pirana is now undergoing a complete restoration to bring it back to the original condition in which it appeared at the 1967 London Motor Show, but before the process is complete, Leno shows us around and takes it out on the open road to relive memories of a relic from a bygone era.

Jaguar Classic's 3.8-liter engine block costs nearly as much as a new Jetta

Jaguar is helping collectors restore its vintage models by resuming production of the 3.8-liter six-cylinder engine block it built between 1958 and 1968. Called XK, the straight-six originally powered half a dozen models (including the famous E-Type), and its modern recreation costs nearly as much as a new compact sedan. Wearing part number C22250, the cast-iron block is built to the original's specifications by Jaguar's Classic division, and it comes with a 12-month warranty. Sourcing a used block would likely be markedly cheaper than ordering a new one from the factory, but enthusiasts who value originality above all will appreciate the fact that it comes certificate of authenticity. Customers who send the company proof of vehicle ownership can even retain the serial number from the engine they're pulling out, though an asterisk will identify it as a replacement. Jaguar built the XK engine for several decades, but the 3.8-liter variant only remained in production for 10 years. It powered cars like the surprisingly quick XK 150 roadster, the stately Mark IX and early examples of the E-Type, though its displacement grew to 4.2 liters in 1964. As of this writing, only the 3.8-liter XK is available new. If the E-Type you're painstakingly restoring deserves nothing less than the best, or if you think a 3.8-liter block makes an awesome coffee table, you'll need to send Jaguar a check for GBP14,340 including taxes, a sum that represents approximately $17,800 at the current conversion rate. Enthusiasts will also need to source pistons, connecting rods, a crankshaft and a complete cylinder head, among many other parts, so the cost of a full rebuild will lie well beyond the $20,000 threshold. For context, Volkswagen charges $18,895 for an entry-level Jetta. Related Video: