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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 teases E-Pace crossover details - and price under $40K

So it turns out we'll be seeing the fully revealed Jaguar E-Pace much sooner than we expected. Jaguar announced the debut will occur on July 13, so we're less than a month away. The company also provided a teaser of the E-Pace's tail. It shows a fat rear fender and Jaguar's trademark taillight design. While many other companies would be content to release a teaser and nothing else, Jaguar actually provided a number of other interesting details. Among them is the powertrain. It will only be available with gasoline-powered engines and all-wheel drive. We're expecting it to use roughly the same powertrain combinations as the Land Rover Range Rover Evoque. The other big details are pricing and availability. The baby Jaguar SUV starts at $39,595, which is over $3,000 less than the entry-level F-Pace and the Range Rover Evoque. You'll also be able to bring one home from the dealer next year. Related Video: Image Credit: Jaguar Jaguar Crossover SUV Luxury jaguar e-pace

Jaguar takes bite out of Mercedes' Magic Body Control chicken ad

We were quite impressed by Mercedes-Benz when it aired its Magic Body Control commercial, starring a group suitably funky chickens demonstrating their ability to jive to Diana Ross and the Supremes. Now, Jaguar has taken the opportunity to poke some fun at its German rival, releasing its own take on the Magic Body Control spot, and um, there's a big cat involved.
You'll really want to take a look at this video, which is just another sign that in terms of clever ads, Jaguar is doing quite well. We aren't sure if "Jaguar vs. Chicken" will make it onto TV any time soon, but it's still fun to see the British brand take the mickey out of Mercedes - it's rare to see automakers go after each other so bluntly in their marketing efforts. Scroll down to watch the video (we've also included a bonus video, Jag's recent "Cat In A Box" spot).