1968 Jaguar E-type Series 1.5 Fixed Head Coupe. 4-speed, Triple Carbs. Ca Car. on 2040-cars

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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 returns to open-wheel racing with Formula E team [w/video]

One of the most legendary names in motor racing – Jaguar – is returning to the open-wheel racing, but not with an internal-combustion engine. The British company has confirmed its plans to enter the FIA Formula E Championship. Though the British automaker has revealed little in the way of concrete details, the team is set to join the electric grid for the third season starting next fall. Jaguar will team up with Williams as its technical partner, drawing on the relationship they established in developing the C-X75 hybrid hypercar concept and on Williams' considerable racing expertise. The F1 team founded by Frank Williams developed the battery system for the SRT_01E that all the teams are using currently. "Electric vehicles will absolutely play a role in Jaguar Land Rover's future product portfolio and Formula E will give us a unique opportunity to further our development of electrification technologies," said JLR's chief engineer Nick Rogers. "The Championship will enable us to engineer and test our advanced technologies under extreme performance conditions." The company recently showcased new battery propulsion technology and is said to be developing an electric crossover to be dubbed the Jaguar E-Pace. Jaguar won Le Mans five times in the 1950s and twice again in 1988 and '90, and racked up victories in touring cars in the early 80s. Most recently Jaguar Racing represented the company in Formula One until then-parent Ford sold the team to Red Bull in 2004 before divesting itself from the company altogether in 2007. Aside from the XKR GT3/GT2 that it furnished to privateer teams, Jaguar has not competed in any major racing series since. Jaguar joins Audi, Renault, and PSA Peugeot Citroen on the Formula E grid. The announcement coincides with the withdrawal from the series of the Trulli team. Former F1 driver Jarno Trulli took over the outfit from Drayson and is now relinquishing the slot back to the series organizers effective immediately, dropping the grid down to 9 teams and 18 cars until Jaguar takes its place next season. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.