Thursday, April 25, 2024
NewsJaguar Aims to Retire All of Its Current Models to Make Way...

Jaguar Aims to Retire All of Its Current Models to Make Way for New EVs

Most Jaguar models will go out of production in June to make way for three, much more expensive, new EVs.

  • The company will end production of most of its models in June, with sales continuing until stocks last.

  • The brand will replace them with three new electric cars that will be much more expensive than its current offerings.

  • Jaguar wants to become an even more premium automaker by abandoning the volume market.

Jaguar has never been a major player in the premium market in terms of sales, and the British brand doesn’t intend for this to change.

Indeed, Jaguar wants to do the exact opposite, in fact, by launching new electric models that will be much more expensive than its current vehicles.

By doing so, the company wants to level up and be considered a true luxury brand rather than a mass-market premium option.

In order for this transition to be clear in customer’s minds, Jaguar is opting for a surprising strategy by killing its entire current product range and replacing it with three new electric vehicles starting in 2025.

According to the president of JLR North America, most Jaguar models will go out of production in June, with sales continuing until all units are sold, which should leave the company plenty of time to launch its new models.

2024 Jaguar F-Type R75 | Photo: Matt St-Pierre

While few details about this new family of products have been revealed, we know that Jaguar will offer a four-seat GT, an SUV, and possibly a sedan, which will all share the same JEA (Jaguar Electric Architecture) platform that is completely unrelated to the current i-Pace EV.

The GT will be the first to launch, with a reveal planned later this year. This model is expected to be the most powerful Jaguar road car ever, which means an output of more than 575 horsepower, in exchange for a base price of more than $100,000 in the United States. The automaker claims this car will be capable of driving up to 430 miles (692 kilometres) on a charge, but this is almost assuredly based on the permissive WLTP standard employed in Europe, which means we will have to wait for a more accurate estimation of the real-world range.

Of course, increasing prices and reducing model offerings will result in even lower sales figures for Jaguar, but the brand is confident in its strategy.

2021 Jaguar i-Pace

Indeed, the automaker expects to sell about 50,000 vehicles globally per year once all three of its future EVs reach customers, which is 7,000 more than it managed to sell around the world in 2023 due to a sharp drop in sales over the last few years.

Since Jaguar isn’t trying to return to higher sales, many of its dealerships have abandoned the franchise, with over 40 having done so in the United States alone.

Despite this, the company has no intention of moving to an online sales model, with all of the new EVs planned to be available only at one of the 120 to 130 dealers which are expected to remain in operation in the U.S.

While this significant shift in market positioning and product type could play very well for Jaguar, it also means that time is running out for those who are in the market for a relatively affordable British luxury car.

Source:  Road & Track

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