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Yahoo
an hour ago
- Yahoo
JLR postpones new electric models
Tata-owned Jaguar Land Rover (JLR) has postponed the launch of its new electric Range Rover and Jaguar models, extending the timeline for additional testing and to allow for an increase in market demand, reported The Guardian. The delay impacts customers awaiting the electric Range Rover, with deliveries now commencing next year instead of late 2025. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service Production for the inaugural electric Jaguar since the rebrand, currently known as the Type 00, is slated for August 2026. The subsequent Jaguar model may not launch until December 2027, the report added. Also, an electric Range Rover Velar is anticipated to enter production in April 2026, with the possibility of further delays, and an electric model under the Defender sub-brand could begin production in early 2027. Additionally, two new Jaguar models might also face a delay of 'several months' from the original schedule, two individuals familiar with the company's plans told The Guardian. JLR's sales have recently suffered, experiencing a 15.1% decline in the quarter ending June, partly due to a halt in US exports influenced by President Donald Trump's tariffs. The company has also introduced a voluntary redundancy programme targeting up to 500 managerial positions in the UK. Despite these challenges, JLR claims to have maintained profitability for ten consecutive quarters, bolstered by a UK-US trade deal that reduces tariffs on the initial 100,000 vehicle exports. The carmaker's approach to electric vehicle technology is said to have been more conservative than its competitors, which previously risked incurring fines for not meeting UK electric vehicle sales targets. However, the UK's relaxation of the zero-emission vehicle (ZEV) mandate has alleviated some of this pressure. A company spokesperson said: 'By 2030, JLR will sell electric versions of all its luxury brands. Our plans and vehicle architectures are flexible, so we can adapt to different market and client demands.' "JLR postpones new electric models – report" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
US tariffs, laws push Jeep owner Stellantis into 2.3-bn-euro first-half net loss
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws. The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year. The carmaker, whose stable of brands also includes Peugeot, Citroen and Fiat, said first-half net revenues dropped 12.6 percent to 74.3 billion euros, according to the preliminary and unaudited results. Sales of vehicles fell by six percent in the second quarter year-on-year, after having dropped nine percent in the first three months of 2025. Stellantis said "the early effects of US tariffs" had a 300-million-euro negative impact and disrupted its plans to respond to its struggling performance in North America. Automakers have struggled to respond to a new US tariff of 25-percent on imported cars that are not largely made within North America. Stellantis fell into a net loss when it took a 3.3-billion-euro charge, which it said was "primarily related to programme cancellation costs and platform impairments, net impact of the recent legislation eliminating the CAFE penalty rate and restructuring". US President Donald Trump's massive tax and spending legislation, approved earlier this month, removed the penalties for not respecting the so-called CAFE fuel economy targets, meaning automakers can produce and sell more higher polluting cars in the United States. Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by US tariffs. The company said it was in the early stage of taking action to improve performance and profitability, with new products expected to deliver a larger impact in the second half of 2025. Shares in Stellantis fell more than two percent as trading got underway on the Paris stock exchange. Stellantis said it would release audited first half results on July 29 as scheduled. eg-fmp/rl/gil Sign in to access your portfolio
Forbes
2 hours ago
- Forbes
Fast And Furious Mazda RX-7 Sells For Record $1.2 Million At Auction
The RX-7 Veilside Fortune fetched $1.2M. Since the first Fast and Furious movie landed in theaters in 2001, titled simply 'The Fast and The Furious,' the money-making franchise has generated a combined total of over $7.2 billion. That makes this 11 movie franchise (so far) one of the most popular, biggest earning and most successful in history. So it stands to reason that the cars appearing in these action flicks might generate intense interest and some serious coin as well. How about over seven figures? The RX-7 fetched twice the previous record of $550,000 Last weekend at Bonham's Goodwood auction in Sussex, England, the heavily modified 1992 Mazda RX-7 (with a Veilside Fortune body kit) from 'The Fast and the Furious: Tokyo Drift' saw the hammer come down on a winning bid of more than $1.2 million. That is a record for a Mazda road car and is twice the $550,000 paid for the previous record-setter for the 1994 Toyota Supra driven by Paul Walker in the first Fast and Furious movie. The RX-7 starred in Tokyo Drift Interesting, however, it's not the most expensive movie car. A blue Nissan Skyline GT-R R34, driven by Paul Walker in Fast and Furious 4, sold at a Bonhams' auction in 2023 for $1.3 million. The fact that a car from Tokyo Drift, which was actually the worst performing of all Fast and Furious flicks, with a record-low box office of $157 million, should reach such a high price just goes to show that the third movie in the franchise has some hardcore deep pocketed fans. Even though it barely features the two original lead characters and has a lackluster script, in the flick's defense, there is some superb stunt work and cinematography and the combination of cars—including a Nissan Silvia, a Mitsubishi Lancer Evo IX, a Nissan 350Z, a Mazda RX-8 and a Ford Mustang Fastback—is one of the best in the whole franchise. Justin Lin, Director, Nathalie Kelley, Keiko Kitagawa and Keiichi Tsuchiya (Photo by Nathan ... More Shanahan/FilmMagic) But even though Tokyo Drift may not have been as big a hit as all the others, the cars in this installment are hugely impressionable and hard to forget. Just about any casual fan would recognize the RX-7's black-and-orange paintwork as the hero car driven by actor Sung Kang's character Han Lue in Tokyo Drift, and as one of only two said to have survived filming, it crossed the finish line just past the seven-figure mark. Japanese customizer Veilside is well-known in motoring circles for its aerodynamic kits, and the brand has become part of the Fast and Furious landscape. This modded-out RX-7 dons the company's Fortune widebody body kit, which added nearly seven inches of width, in addition to a huge rear spoiler and massive side vents. Apparently the reason it survived in such pristine condition is because this RX-7 was almost exclusively used for still shots and driven sparingly.
