Iconic British car maker Jaguar will unveil its much-anticipated concept in Miami in December which will mark the start of its strategic transformation into an ultra-luxury brand.
Confirmed to journalists by JLR chief executive Adrian Mardell at the car maker’s latest set of quarterly results, the new model’s debut will be staged at the December 3-8 Miami Art Week – which Jaguar is sponsoring.
On the event website, organisers state: Art Miami’s tailor-made sponsorship opportunities are designed to address each of our partners marketing goals and brand exposure, offering sponsors access to a superior demographic of affluent collectors.
“Not surprisingly, collectors of contemporary and modern art are appreciative of luxury products, brands, and services.”
Jaguar’s reinvention was launched by Mardell’s predecesor Thierry Bolloré who laid out the plan to elevate the brand to uber-luxury status.
Jaguar managing director Rawdon Glover confirmed earlier this year that a concept car showcasing its new design direction would debut before Christmas and would preview Jaguar’s four-door GT priced around £100,000.
This electric vehicle will offer a range exceeding 435 miles, ultra-fast charging capabilities, and a dual-motor powertrain delivering over 575bhp.
Jaguar’s strategically halted production of its UK-made XE and XF saloons and the F-Type sports car in June, which preceded the end of production of the E-Pace and electric I-Pace models produced in Graz, Austria.
Earlier this month, the last Jaguar F-Pace SUV rolled off its Castle Bromwich production lines in a move by the car maker in readiness for its next-generation model.
Meanwhile, in a second-quarter announcement, parent JLR said demand remains high for its electric models, with over 48,000 Range Rover Electric on order and 2,900 confirmed orders for the Defender OCTA, equipped with a powerful BMW-sourced 4.4-litre V8 engine.
JLR’s latest financial report also revealed supply chain disruptions, including aluminium shortages which impacted production, while additional quality checks delayed sales of 6,029 vehicles.
Those issues combined led to a 10% drop in profits to £398 million between July and September. Revenues for the the quarter were £6.5 billion, 6% lower than last year. Even so, over the six months to the end of September, JLR’s profits jumped by a quarter year-on-year to £1.1 billion driven by record Range Rover sales.
JLR said it was maintaining an optimistic outlook for the remainder of the fiscal year, holding to its full-year guidance of £30 billion in revenue and EBIT margins of at least 8.5%.
The company added that it anticipates a “strong” recovery in production and wholesale volumes as aluminium supply stabilises.
