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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.

Chris Harris finds the Jaguar F-Type R Coupe rather drifty

Our own Matt Davis may have called the new Jaguar F-Type R Coupe "one heady rascal," but our review was disappointingly short on drifting, tire smoke and general, English shenanigans. You know, the sort of things that Chris Harris from Drive excels at.
Actually, relative to Harris' other reviews, this one is rather serious. There's a good recap of the F-Type on the road, with Harris referencing the car's "great bottom" and "amazing ass," quite frequently. Surprisingly, Harris says the more powerful F-Type R is just "incrementally" faster than the 495-horsepower F-Type V8 S Convertible. Following the on-road portion, it's off to the track. You can probably predict what goes on there. Overall, aside from some quibbles, Harris has nothing but praise for the newest cat.
We've got the entire video available below. Scroll down, have a look and let us know what you think in Comments.

Hey wait, not everyone hates the diesel engine in our 2017 Jaguar XE

My friend Joel doesn't seem to care for the turbocharged 2.0-liter diesel engine in our long-term 2017 Jaguar XE 20d. That's fine. He's entitled to his opinion. But he does not speak for the entire Autoblog staff. I, for one, am a big fan of this oil burner. I said so months ago after I returned from a 2,000-mile road trip. The intervening months have done nothing to sway my opinion. It's smooth, efficient, and all the engine you need in a non-performance application. It may not have the raw power or full range torque of the XE's gasoline engines, but it's a fine fit in this car. Not everyone who buys a sports sedan like the XE or BMW 3 Series does so because they want a sharp canyon carver. Some just want a handsome car that will get them from point A to B in relative comfort. The Jaguar XE diesel does just that, and it does so while achieving some pretty astounding fuel economy numbers. We met the 30 mpg city rating and eclipsed the 40 mpg highway rating with ease. It's not like the XE diesel is slow. Sure, a 0-60 mph time of 7.5 seconds isn't blistering, but it's far from what anyone should consider slow or lethargic. That time is right on par with the BMW 328d. Sure, it runs out of breath at peak revs, but so does every other diesel. If you care about wringing it out, buy a gas version. By Joel's own admission, the engine's 180 horsepower and 318 pound-feet of torque are available when needed for highway passing or city driving. That's all most people really need. So what if it falls on its face at high revs. I will concede that this isn't the most refined diesel on the market. At idle, it shimmies like an unbalanced washing machine. Jaguar has tuned a lot of that out, but it isn't nearly as calm as the competition (though it's miles better than diesels of old). It revs quickly for a diesel, but the exhaust note is one to forget. The engine sounds like a muffled foghorn mixed with a jar of nails. Not good. Once you get moving, it settles down. Highway cruising is a breeze. You forget you have a compression ignition engine under the hood. Even around town, turn the radio on and you'll be fine. Joel is right about the ride and handling totally outclassing the diesel engine. The car is comfortable on highways and city streets but sharpens up on a curvy backroad. The steering and suspension communicate to the driver what the car is doing at all times. The brakes inspire confidence with a firm pedal and sharp bite.