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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Looking back on our favorite cars of Mad Men

The second half of the seventh and final season of Mad Men debuted this week, set to cap a run of public and critical acclaim. A decade's worth of interesting cars also made for good television, if you were paying attention. Vehicles didn't often steal the spotlight from Don, Betty, Roger, Joan and the gang, but they added meaningfully to the tone and beauty of the series. We sorted through the wheeled extras from Mad Men's archives, and choose some of our favorites to highlight. The list consists of cars that had at least a small impact on the plot of an episode, though certainly there are worthy gems hiding in just about every street and driving scene. Check out our subjective top five, and then let us know which of the Mad Men cars would be on your list. 1962 Cadillac Coupe DeVille – Season 2 Don Draper's Cadillac Coupe DeVille, all 500 feet of it, shows up in a few seasons of the show, but it's the first appearance that sets the tone. A Cadillac salesman, cut from the same cloth as Draper, asks what Don drives right now. "A Dodge," Don admits. "Those are wonderful if you want to get somewhere," allows the salesman, "this is for when you've already arrived." For a man on the move up corporate and social ladders that's a powerful message, and a pitch-perfect car. 1961 Lincoln Continental – Season 3 The most stylish Lincoln Continental ever is perfect set dressing for the mod show, of course. Though it's interesting that the car isn't cast as dapper Draper's ride, but rather his father-in-law's. Grandpa Gene does what all great grandfathers are bound to: lets his granddaughter Sally drive the big Lincoln while he works the pedals. Generational bond secured, in fine fashion. When you go back through the first three seasons of the show, you'll notice that Continentals show up more than once, too. There's nothing quite like them to evoke the best of the early '60s. 1963 John Deere 110 – Season 3 The only non-standard passenger vehicle on the list, no self-respecting gearhead/Mad Men fan should quibble with the inclusion of the John Deere 110 riding mower. For starters, the Deere is lovely to look at; a miniature version of the American Heartland icon in its green and yellow duds. The 110 appears as if milled from a solid block of steel, just the opposite of today's sleek, plasticky lawn minders (we're scouring Craigslist for one to bring home). The John Deere also has dear ramifications to the plot, too.

Jaguar F-Type Project 7 arrives Stateside for $135k*

There are a great many things we love about the Jaguar F-Type, but one of them is that, whatever price point you're looking at, there's an F-Type for you. (Well, not any price point... this is a Jag we're talking about, but pricing varies greatly.) Got $65k to spend? That'll get you into a base F-Type V6 coupe, and you'll likely be happy for it. Eighty grand will get you into an F-Type V6 S, $90k into a V8 S roadster, and a cool hundred grand will get you the top-of-the-line F-Type R coupe. But what if you want to spend more than that? What if you've got more like $165,000 in your pocket and it's burning a hole when it should be burning rubber?
Well we've got good news for you, friend, because that's exactly how much the exclusive F-Type Project 7 will set you back. Making its US debut during Monterey car week, Jaguar has announced that the most exclusive version of its two-seat sports car - revealed in production spec just recently at the Goodwood Festival of Speed - will cost $165k in the US (plus the standard $925 delivery charge). That's roughly the price of an F-Type R and a base F-Type V6.
For all that scratch, you get an open-top roadster with 575 horsepower on tap - more than any production road car Jaguar has ever made before, and that includes the XJ220 and ultra-rare XJR-15 supercars. The most potent version yet of Jaguar's ubiquitous and long-serving 5.0-liter supercharged V8 is enough to send Project 7 to 60 in 3.8 seconds and on to an electronically limited top speed of 186 miles per hour.