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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's F-Sleigh replaces reindeer with jet power

'Tis the season for automakers to demonstrate how they would design Santa's famous (if fictitious) sleigh. The F-Sleigh concept is based on the F-Type convertible, but this one has skids instead of wheels, a pair of jet engines in place of the supercharged V8, the requisite red nose (embossed with the Growler emblem), and of course plenty of room for gifts. This is the second time we've seen a modern Jaguar design incorporating small turbines, and takes the idea of a 550-horse open sleigh to new heights. Jaguar rendered the design in an ice sculpture and is displaying it this holiday season at the London Edition hotel in the British capital. Joining the F-Sleigh on display are some of the more tempting items from the latest Jaguar and Land Rover merchandise collections, including a 1:8 scale model of a 1957 XKSS and a Defender pedal car. But it's the centerpiece that caught our attention, looking at least as cool as some of the designs we've seen from the likes of Ford, Honda, Lexus, Bentley, or even Jaguar Land Rover's previous concepts. Now if you'll excuse us, we have to rush down to the fireplace to replace the milk and cookies with a tanker full of jet fuel. Related Video: JAGUAR UNVEILS EXCLUSIVE CHRISTMAS 'F-SLEIGH' DESIGN TO CELEBRATE THE LAUNCH OF JAGUAR AND LAND ROVER 2016 MERCHANDISE COLLECTIONS - Jaguar unveils special Christmas-themed design study codenamed F-SLEIGH - Jaguar and Land Rover host exclusive launch of new 2016 branded collection in central London - Items from the new collections available to buy at Jaguar and Land Rover retailers and online stores: https://shop.jaguar.co.uk/ / https://shop.landrover.co.uk/ (The London Edition, London W1 - 14 December 2015): Jaguar and Land Rover showcased their latest collection of branded goods alongside licensed partners in central London today, to mark the launch of the brands' 2016 collections. A special ice-sculpture of a Christmas-inspired Jaguar design was exclusively revealed at the London Edition hotel to celebrate the merchandise and luxury goods launch. Codenamed 'F-SLEIGH', the Jaguar Christmas sleigh takes inspiration from the Jaguar F-TYPE convertible, but with skates in place of wheels, a generous open luggage compartment for gifts and jet power to generate Jaguar's renowned supercharged performance through the night sky. A Growler-embossed red nose completes the F-SLEIGH's Christmas theme.

Junkyard Gem: 1965 Jaguar S-Type 3.8

The first Jaguar XJs appeared on American roads in late 1968, and decades of production made it the iconic Jaguar sedan most familiar to us today. Before the XJ, however, there was the Mark 2, and that powerful and stylish midsize saloon sold fairly well here during the 1960s. The S-Type (yes, the Leaper-badged Lincoln LS sibling built by Ford around the turn of the century took its name from this car) was an upgraded version of the original Mark 2, sold here for the 1964 through 1968 model years. Here's a rough but recognizable '65 S-Type 3.8, found in a Denver-area wrecking yard recently. The feature that set the S-Type apart from the ordinary Mk2 was this independent rear suspension, based on the one used in the bigger and costlier Jaguar Mark X. The base Mk2 and its old-timey solid rear axle remained available in 1965, with a sticker price of $5,419 (about $51,460 in 2022 dollars), while the S-Type cost $5,933 (around $56,340 now). Yes, those inboard disc brakes were just as much a nightmare to work on as you'd think, but they reduced unsprung weight and improved the handling and ride. This car was about the same size as a typical Detroit midsize sedan of the day, but far more expensive and much more prestigious. GM's swankiest S-Type-sized offering, the Buick Skylark, cost a mere $2,552 ($24,235 today) and had a notable lack of real wood inside. Actually, that Skylark with the optional 300-cubic-inch (5.0-liter) "Wildcat 355" V8 would have been a lot quicker than the S-Type, at least in a straight line, and your friendly Buick dealer probably could have arranged to have the hot-rod 401 (and its 325 horses) out of the Gran Sport coupe stuffed into a new Skylark sedan. The S-Type of 1965 got this sophisticated DOHC straight-six of 3.8 liters' displacement, rated at 220 horsepower. As you'd expect, someone grabbed the pair of SU sidedraft carburettors before I got here, perhaps before the car even arrived at this place. The 4.2-liter version of this engine used in the Mark X got three carbs. I suspect that this car was bought by a Denver-area Jaguar enthusiast for parts, decades back, and then was used for outdoor storage of components for future projects.  These cars are worth decent money in good condition, but this one would need the application of tens of thousands of dollars to be worth … tens of thousands of dollars. As someone who daily-drove an MGB for a few years, the sight of all this Lucas electrical hardware makes me sweat a little.