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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)

Stunning Jaguar collection with O.G. E-Type is a museum exhibit all on its own

At what point does a personal automotive collection become a museum exhibit that's just not in a museum? Dr. Christian Jenny blurs the line between the two with his unreal lot of classic Jaguars that includes not only the first E-Type ever seen in public, but also the "Lost C-Type" and what is considered to be Jaguar's first sports car, the 1935 S.S. 90 Prototype. Switzerland-based collector Jenny is selling 12 cars individually through classic car broker Pendine Historic Cars Limited. The collection includes some of the most important Jaguars ever built, nearly all of which have open-air tops. It's so special, in fact, that Pendine has created an entirely separate tab on its website dedicated to the set. The 12-pack includes the 1935 S.S. 90 Prototype, a 1952 C-Type, the E-Type Series I fixed-head coupe (aka "The Geneva Launch Car"), a 1935 S.S. 90 "Captain Black," a 1937 S.S. 100 2.5 liter, a 1938 S.S. 100 3.5 liter, a 1949 alloy XK120 Roadster, a 1950 XK120 Roadster, a 1955 XK140 SE Roadster, a 1960 XK150 3.8 S Roadster, an E-Type Series I Roadster, and a 1972 E-Type Series III V12 Roadster. All of the cars have been beautifully photographed and recorded by Michel Zumbrunn, author of British Auto Legends: Classics of Style and Design. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Though every one of these cars holds heavy significance, the 90 Prototype, the C-Type, and the Geneva E-Type stand to be some of the most noteworthy in British history. The S.S. 90 Prototype is considered Jaguar's first sports car before the company was even called Jaguar. It has a sidevalve 2.6-liter straight-six engine that makes an estimated 90 bhp and has won numerous Pebble Beach Concours awards. For years, this C-Type was floating in the ether and earned the nickname "The Lost C-Type" when it was the only car of the 53 C-Types that was not located. It was raced for numerous years and has since been restored. Any E-Type is highly valuable, as it's largely considered one of the most beautiful cars ever built, but this specific car has extra history. The coupe shape was reportedly hand-built from an open-top model and became the first E-Type ever seen in public. The experimental prototype, chassis No. 885005, was on display at the 1961 Geneva show. Read more detailed accounts for each car and ogle the gorgeous photography, of which each car has plenty, at Pendine. As of now, only the 90 Prototype has an offer.

Watch the Chevy Corvette dismiss its Euro rivals at the hands of a Brit magazine

European auto writers, especially the British, have a bit of a reputation for favoring their own domestic cars over foreign rivals in comparison tests. Just think about how many times you've heard Jeremy Clarkson deify the latest product of UK loins while denigrating an American rival as a hopeless "Yank Tank." However, we have to tip our hats to the folks at Autocar because in its latest video comparing the 2014 Corvette Stingray to the Porsche 911, Jaguar F-Type V8 S and Audi R8, it's actually given the Vette a fair shake.
Autocar has put the Stingray through a battery of tests against what it considers to be the three best sports cars on sale in Europe today. And while the tests that it has chosen are somewhat random and subjective, it has concluded that the C7 can stand up against its rivals, even irrespective of its price. It's one thing to hear about how great the Stingray is from American writers, but it's great to know that not all Brits think we've gone crazy for calling the new Chevrolet "exquisite."
Scroll down to see how it all plays out on video.