Jaguar, the leading British car manufacturer, will unveil its long-awaited concept in Miami in December, marking the beginning of its strategic transformation into an ultra-luxury brand.
JLR CEO Adrian Mardell confirmed to reporters during the automaker’s latest quarterly results that the new model will debut at Jaguar-sponsored Miami Art Week from Dec. 3 to 8. It is said that it will be destroyed.
On the event website, organizers state: Art Miami’s bespoke sponsorship opportunities are designed to accommodate each partner’s marketing goals and brand exposure, and offer sponsors the opportunity to Provides access to a superior demographic of collectors.
“Unsurprisingly, collectors of contemporary and modern art value luxury goods, brands and service.”
Reinventing Jaguar was launched by Mardel’s predecessor, Thierry Bollore, with plans to elevate the brand to ultra-luxury status.
Jaguar managing director Rawdon Glover confirmed earlier this year that a concept car showing the new design direction would debut before Christmas, previewing Jaguar’s four-door GT, priced at around £100,000. I admitted it.
This electric vehicle offers over 435 miles of range, super-fast charging capability, and a dual-motor powertrain with over 575bhp.
Jaguar strategically halted production of its British-made XE and XF saloons and F-Type sports cars in June, ahead of the end of production of its E-Pace and electric I-Pace models, which are built in Graz, Austria. That’s what it meant.
Earlier this month, Jaguar’s last SUV, the F-Pace, rolled off the Castle Bromwich production line as the carmaker moved to prepare for the next generation model.
Meanwhile, parent company JLR announced in the second quarter that demand for its electric models remains high, with more than 48,000 Range Rover Electrics equipped with BMW’s powerful 4.4-liter V8 engine sold, and 2,900 Defender OCTAs sold. He said that he has confirmed orders for more than one unit.
JLR’s latest financial report also revealed that the sale of 6,029 cars was delayed due to supply chain disruptions, including an aluminum shortage that affected production, and additional quality checks.
The combination of these issues meant that profits for the July-September period fell 10% to £398m. Revenue for the quarter was £6.5bn, down 6% on the previous year. Still, in the six months to the end of September, JLR’s profits rose by a quarter to £1.1bn on the same period last year, driven by record sales of Range Rover.
JLR said it maintained its full-year outlook for sales of £30bn and an EBIT margin of over 8.5%, and maintained an optimistic outlook for the remainder of the financial year.
The company added that it expects production and wholesale volumes to recover “strongly” as aluminum supplies stabilize.
