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Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

Lots of Land Rovers, Jaguars and Minis actually survived that near-capsized ship

Despite a severe list to starboard, many of the 1,400 cars and SUVs aboard the 51,000-ton Hoegh Osaka are currently being recovered in salvageable condition, with video showing some of the vehicles from British brands Land Rover, Jaguar and Mini, being driven ashore under their own power. The car-carrying vessel developed a severe list on January 3 and was intentionally run aground on a sandbar between England and the Isle of Wight. It has since limped its way back to port in Southampton, where damage assessments are being conducted on both the ship and its $53-million in cargo. According to the company that owns the car carrier, the ship itself only suffered minor damage in the incident, while Car and Driver is reporting that many of the damaged vehicles will almost certainly be scrapped. Still, the fact that there are vehicles, some of which appear undamaged (look at that Defender at 0:50!), being removed from the Hoegh Osaka needs to count as a net win. News Source: Car and Driver, WonkaBar007 via YouTube Jaguar Land Rover MINI Coupe Crossover Hatchback Luxury Off-Road Vehicles Performance Videos Sedan

Jaguar Land Rover to drop supercharged V8 for turbocharged BMW power

There are few things that sound as good as Jaguar's 5.0 liter supercharged V8. As great as it is when the supercharger whines or the exhaust cracks and pops on throttle lift-off as the air pressure equalizes, the basic design dates back to the '90s. Plainly, the engine isn't as efficient as it needs to be, but designing a new V8 from the ground up is an expensive proposition. Instead, Automobile reports that Jaguar Land Rover is set to use a twin-turbocharged V8s supplied by BMW. Scalable architecture is all the rage as automakers streamline designs in order to save costs. For example, Jaguar's current supercharged V6 is quite literally a V8 with two holes missing. They didn't even change the length of the block. It seems both of those designs are on their way out, with the V6 being replaced by a inline-six closely related to the company's inline four. It seems that rather than designing an new and expensive V8 for their top of the line models JLR, is sourcing from BMW. From 1994 to 2000, BMW owned Land Rover. A few models, including the Land Rover Range Rover, used BMW engines then and in the initial years of Ford's JLR stewardship. It seems things have now come full circle. BMW currently makes a twin-turbo 4.4 liter V8 that produces anywhere from 440 to 600 horsepower, depending on the application. Automobile says that a new 4.0 liter V8 is in the works and that it will most likely be the engine that JLR uses. Expect it to be more powerful, more fuel efficient, and lighter than what both BMW and JLR currently offer. This seems like a win for both companies. BMW gets to offset the cost of a new motor while JLR, a smaller company, doesn't have to invest in a whole new architecture. As automakers search for ways to cut costs, expect collaborations like this to continue. Infiniti and Mercedes-Benz both share a four-cylinder engine. Ford and GM have worked together to design a shared 10-speed automatic. While we may lament the loss of that wonderful Jaguar Land Rover engine, we can still be happy that they haven't abandoned the V8. Related Video: News Source: Automobile Rumormill BMW Jaguar Land Rover