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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 might not sell many XF Sportbrakes in the U.S., but here's why it's trying

One of the wonderful surprises of this year was when we learned that the U.S. would receive the XF Sportbrake wagon, and — less of a surprise — it's as much a looker as the previous generation. And while we're never one to look a gift car in the grille, it did seem strange that Jaguar would attempt to bring a wagon to the U.S., especially when it already had a similarly sized F-Pace crossover. So we spoke with Jaguar CEO Joe Eberhardt, Jaguar Design Director Ian Callum, and Jaguar's head of product planning in the U.S. to find out what prompted the company to bring the XF Sportbrake here. There were a few key reasons. One was simply that the folks at Jaguar really like the car, and they know that journalists like wagons. That doesn't exactly pay the bills for a car, but the enthusiasm is good. According to these people at Jaguar, though, they do believe there is a market for the car, and they expect to sell most of them on the coasts. Obviously, even if Jaguar sees a wagon market, it's still going to be much smaller than for crossover SUVs. But no matter how small that market is, Jaguar has an extra advantage for bringing the wagon here. The company knew it was going to make a wagon regardless of whether it would come to America, since the wagon market in Europe is so strong. In fact, Jaguar expects that half of XF sales in Europe will be Sportbrakes. So the majority of the engineering costs will be covered from those sales. The folks at Jaguar also told us that the car wasn't difficult to homologate for the U.S., so the cost of bringing it here was minimal. So in the worst case scenario that has the XF Sportbrake hardly selling in America, Jaguar isn't going to be seriously hurt. And if it's a success, then it's even more of a success. So the XF Sportbrake isn't purely a passion product, but that's OK. It means consumers have one more option to the multitude of crossovers in the U.S., and enthusiasts have the chance to own a super cool wagon. Also, although the XF Sportbrake is currently only available in America in top-level 380-horsepower S trim, Jaguar said lower trim levels and lower-output engines, all at lower prices, will be available here in the coming year or so. Meaning there will be even more ways to satisfy your wagon itch. Related Video:

Jaguar may kill supercharged V6 to make way for inline-six

This could be the last year to score a Jaguar with the carmaker's 3.0-liter supercharged V6. Autocar reports that Jaguar deep-sixed the the XE S and XF S in the UK due to poor sales and difficulty coping with European emissions regulation changes taking place this year. The mag expects the XJ and F-Pace to lose the V6, too, but suspects the F-Type might retain the engine. It's possible, however, the bent-six with up to 380 horsepower and 339 pound-feet of torque might finally be retiring for a reason reported on for at least three years: To make way for a 3.0-liter inline-six from the Ingenium line of motors. In 2015, Motor Trend noted the supercharged V6 would die at the end of 2016, succeeded by a "more powerful Ingenium inline-six," likely to be turbocharged. One year later, Car laid out a new family of Ingenium inline-sixes in gasoline and diesel versions. There would be three gas options with 300, 400, and 500 horsepower, plus three diesels with 275, 335, and 400 hp and herds of torque. In Car's report, the engines were meant to be here in 2017. This could be the year it finally happens. A Jaguar spokesman in the UK told Autocar that an uptake of less than 2 percent on the S models, "Coupled with impending emissions regulation changes, it makes sense to remove these variants from sale in the UK." When Jalopnik asked Jaguar U.S. about availability here — we aren't a party to the imminent European emissions changes — the carmaker would only say that the engine remains available in the current XE, XF, XJ, F-Type and F-Pace. No matter the timeline, Jaguar would want a six-cylinder to fill the gap from the 296-hp Ingenium 2.0-liter four-cylinder to the supercharged 5.0-liter V8 that starts at 470 hp. Jaguar expanded an area of its Wolverhampton, UK, engine factory to build the scalable Ingenium line. An inline-six would not only reconnect with Jaguar's past — and the firm's long-hooded cars remain ready to swallow them — the straight-six is lighter, has fewer moving parts, and emits less pollution than the supercharged V6. It is also compatible with front-, rear- and all-wheel drive, longitudinal and transverse mounting, and hybrid applications, so expect to see the motor migrate to the Range Rover, Range Rover Sport, and Land Rover Discovery.