In a recent call to investors, Adrian Mardell, CEO of Jaguar Land Rover, announced that the British car manufacturer will stop production of all Jaguar models which do not currently generate significant profits.
This drastic decision is part of a broader strategy which sees the brand go all-electric. An anonymous JLR spokesperson confirmed to Automotive News Europe that the E-Pace and I-Pace EV models will be axed, following the fate of the XE, XF and F-Type.
The only model to survive This mass elimination is the F-Pace SUV, Jaguar’s best-selling model. The F-Pace will continue to be produced, at least for now, while the rest of the range is gradually phased out.
This SUV will remain available along with the new electric vehicles that Jaguar plans to introduce in the coming months.
Jaguar has faced in recent years difficulties related to slow sales and products considered obsolete compared to German competitors. Mardell explained that the disposal of these five models, which were not generating profits, will allow the introduction of new vehicles based on the latest generation architectures, increasing the average selling price of JLR vehicles, currently around £90,000.
Despite the difficulties, JLR recorded its best year since 2015with an annual profit of £2.2 billion, before tax, and revenues of £29 billion. This success was mainly driven by the Land Rover Defender, Range Rover and Range Rover Sport models, which represent 85% of JLR’s value.
In the second quarter, Jaguar sold 15,324 vehicles, of which 5,292 were F-Pace. By comparison, Land Rover sold 95,856 SUVs in the same period, underlining the need for a refresh for the Jaguar brand.
JLR has in fact planned a significant transformation for Jaguarwith the first electric vehicle expected in concept form later this year. This elegant grand tourer, with an estimated six-figure price tag, is set to compete with luxury brands such as Bentley and Porsche.
In addition to the coupé, Jaguar has plans to launch a line of three electric carsall based on the Jaguar Electrified Architecture (JEA) platform. However, before their arrival, JLR will unveil the fully electric Range Roverscheduled for next year. This battery-powered model will share its styling with the internal combustion engine version and will feature advanced technologies.
As for Jaguar’s future, there is Hope the XJ model returns to the electric age as an ultra-luxury sedan even larger and more refined than before, according to some market rumors.
Source: www.tomshw.it
