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Strong JLR sales in China boost Tata Motors' quarterly profit

BENGALURU, India — Tata Motors Ltd on Friday posted a 67.2% surge in quarterly profit. Sales at its luxury car unit, Jaguar Land Rover (JLR), improved in key market China as the country led a recovery in the global automobile industry from the pandemic. The Indian carmaker had logged losses for three straight quarters as the COVID-19 pandemic dented business in several of its key markets even as it was already dealing with uncertainties around Brexit, weak demand and rising costs. The Brexit trade deal agreed upon in December has avoided the risk of tariffs on automotive parts and finished vehicles, Tata Motors said, adding that JLR remains encouraged by the Brexit trade deal. JLR sales in China jumped 20.2% on-quarter and were 19.1% higher from the year-ago period. Retail sales at the unit, which accounts for most of the company's revenue, were up 13.1% from a quarter ago, but still 9% lower than pre-pandemic levels. The company said it had saved 400 million pounds ($548.96 million) during the December quarter at JLR under Project Charge, taking the total savings to 2.2 billion pounds so far. Tata Motors has set a full-year target of saving 2.5 billion pounds. Consolidated net profit came in at 29.06 billion rupees ($398.52 million) for the third quarter, compared with a profit of 17.38 billion rupees a year earlier. It had reported a loss of 3.14 billion rupees in the previous quarter. The festive season in mid-November, during which Indians typically make big-ticket purchases, also helped overall sales. "Due to a strong festive season and a clear preference for personal mobility, the PV business posted its highest sales in last 33 quarters," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek said. Total revenue from operations rose 5.5% to 756.54 billion rupees.

V12-powered Jaguar E-Type Series 3 the restomod treatment from UK firm

As Jaguar tries to figure out its future, a growing number of aftermarket companies are reinventing its past. British restoration shop E-Type UK is the latest company to announce a restomod program for the popular sports car released in 1961. It's working with later Series 3 models, which is a little unusual, and it leaves no part untouched. E-Type UK starts every Unleashed project with a donor car; it doesn't build an E-Type from scratch. After strengthening the basic platform, it bores out the V12's cylinders to increase its displacement to 6.1 liters, 800 cubic centimeters more than stock. Additional modifications, like an electronic fuel-injection system and a free-flowing exhaust system, boost the engine's output to 400 horsepower, and a five-speed manual transmission sends the cavalry to the rear wheels. Four-piston front brake calipers ensure the Unleashed stops as well as it goes. With the engine finished and tuned, E-Type UK turns its attention to the chassis. It fits the E-Type with technology the original model could only dream of, like fully adjustable shock absorbers. Wire wheels are standard equipment, they fit the car's sleek profile well, but their diameter increases slightly to 16 inches to clear the bigger brakes. Designers restyled the bumpers, the grille, and the exterior emblems, though the changes are relatively subtle, and they added LED headlights to give the E-Type the visibility of a modern car. Inside, the only limit is the thickness of the buyer's wallet. Anything is possible; the options include different types of leather upholstery and various trim options. Heated seats, LED lighting, a push-button ignition, Bluetooth connectivity, and a surround-sound system are among the equipment added by E-Type UK to encourage future owners to drive their Unleashed often. All told, each build requires at least 4,000 hours of labor, which partially explains why pricing starts at GBP325,000 (around $447,600 at the current conversion rate) before the cost of a donor car enters the equation. For context, that money could buy you two examples of the Lamborghini Huracan Evo and a garage to keep them in, a small plane, or 447 examples of your favorite $1,000 econobox. And yet, we doubt E-Type UK will have a difficult time finding clients. Restomods are a big trend in the industry, some are even Volvo-based, and they're never cheap. Related video: This content is hosted by a third party. To view it, please update your privacy preferences.

Jaguar and Land Rover to consolidate dealerships

Jaguar and Land Rover are set to merge their sales facilities, according to Inside Line. Jaguar Land Rover North America President Andy Gross says 45 percent of Jaguar owners also have an SUV in their stable, so it makes sense to give customers as much exposure to the cat's high-riding cousins and possible. The number of overall outlets will remain the same, and the brands will reportedly remain separate on the showroom floor, however.
So far, just one dealer has made the move to combine under the roof of one 68,000 square-foot facility in Paramus, New Jersey (above), though a further 20 are ready to make the shift and become Jaguar Land Rover outlets. Gross believes the shift is necessary so that his company's dealer network will accurately reflect the company's products. We'll see how cozy the brands are when Jaguar starts rolling out its own SUVs in a few years.