1952 Jaguar Xk-120 3.4 Fixed Head Coupe - Matching Numbers, Recent Servicing on 2040-cars

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Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

London skyscraper caught melting cars

A new skyscraper under construction in London is apparently to blame for some mysteriously melting car parts on the city's surrounding streets. The 37-story building at 20 Fenchurch Street, nicknamed the "Walkie Talkie" for how it looks, features a convex side of glass windows that apparently concentrates the sun's rays like a kid with a magnifying glass. Instead of smiting ants, however, the building was caught focusing its sun-sourced laser death beam on an innocent Jaguar XJ parked on Eastcheap street. The intense heat managed to melt a sideview mirror, plastic C-pillar cover and Jaguar emblem (scroll down for an image of the damage).
Fortunately, the construction company, Land Securities, had some scruples and reportedly left a note on the car for its owner reading "Your car's buckled, could you give us a call?" They've also since apologized and agreed to pay for the £946 done - about $1,500 - in damages by their blazing hot building. A joint statement with the Canary Wharf district in which the building's located was also released. In it, the developer acknowledges concerns about the reflected light and says it's looking into the matter. The city has also decided to close a few parking bays that could be in the building's line of fire, so to speak, until a solution can be engineered. Since news of the melting Jag broke, other vehicle owners have also come forward claiming the building, re-nicknamed the "Walkie Scorchie," has damaged their cars, as well.
This isn't the first shiny-new-building-attacks-cars story we've heard - architect Frank Gehry's Walt Disney Concert Hall in Los Angeles was built amidst concern that its polished ribbons of stainless steel were blinding motorists and causing accidents, along with raising the temperatures of nearby buildings with its reflected light. The building's surfaces were later given a matte polish.

Jaguar XE to start at $35,895, XF at $52,895

Jaguar has announced pricing for two of its most anticipated models, the new, entry-level XE sedan and the second-generation XF. The British marque also released price changes across its range and unveiled a new customer service pack called EliteCare. As you can see from the headline, the new XE starts at $35,895. That'll score you the base model, the so-called 25t, and its 2.0-liter, turbocharged four-cylinder engine. That puts the baby Jag right in the meat of a very competitive segment. It'll be undercut by the Cadillac ATS, BMW 320i, and Acura TLX, but it's a good bit more affordable than the Mercedes-Benz C-Class, Infiniti Q50, or Lexus IS. If you like your fuel extra smelly and your torque to be offered by the bucket-full, be prepared to shell out $37,395. The 340-horsepower, 3.0-liter, supercharged-V6-powered XE 35t will require at least $42,695. The XE's big brother, meanwhile, is subject to a significant price drop. The new base model, the 340-horsepower 35t, rings up at just $52,895, or over $5,200 less than the entry level V6-powered 2015 XF. Once again, Jag has parked itself in the middle of a popular segment, although unlike the XE, the vehicles that undercut the XF – the Infiniti Q70 and Acura RLX – are old or not particularly popular among consumers. That's good news for JLR, since the new sedan easily undercuts the BMW 5 Series and Audi A6, while sneaking in just below the likes of the Mercedes E-Class or Cadillac CTS. And if you're in mourning for the 2.0-liter, turbocharged XF, don't be – the new 35t is only $2,000 more expensive, is lighter, and has 100 more horsepower. Finally, we have Jaguar's new EliteCare program. Essentially, should you purchase anything from model year 2016 and beyond, your car will be subject to a limited warranty, free scheduled service, and 24/7 roadside assistance for five years or the first 60,000 miles of ownership. Owners will also have access to Jaguar's InControl Remote and Protect services for the first 60 months. According to the Brits, the warranty is the best in the class, while the free maintenance lasts longer than the competition. Read on for the full press release from Jaguar, which includes details and other small pricing tweaks for the company's range.