Jaguar sales rose 116% in 2016 to 31,243. The brand is owned by Tata Motors Ltd. (NYSE: TTM). The success of its F-PACE sport utility vehicle (SUV) was responsible for a great deal of the improvement. As is true with almost every other car company with sales in the United States, the SUV, pickup and crossover segments were the key to success. F-PACE sales topped those of all other Jaguar models as they hit 10,016.
The F-PACE shares the success of other SUVs and crossovers in the luxury category, likely because it has a low entry point price. That makes it available to a wider portion of the SUV-buying market. Its entry price is $40,990, though with additional features the price can soar above $70,000.
According to Jaguar’s management, this is how the entire year broke out: “The XE hit 6,656 units sold. The all new Jaguar XF increased 12 percent to 6,665 units sold for the year.”
Jaguar launched two new entry luxury vehicles in 2016: the 2017 XE compact luxury sedan, starting at $34,900, and the 2017 F-PACE compact luxury SUV, starting at $40,990. Competitively priced within their respective segments, these two new models appeal to an all-new segment of buyers for the brand. The XE is available with two gasoline engines, a 240-hp turbocharged four-cylinder and a 340-hp supercharged V6. The F-PACE is available with the same 340-hp supercharged V6, as well as a 380-hp supercharged V6 in the ‘S’ model. Both vehicles are available with a 180-hp turbocharged diesel engine, which returns 42mpg highway on Jaguar XE models and 33mpg highway on F-PACE models.
As Jaguar breaks into the new year, the critical word is “entry.” Among luxury car manufacturers, low price points have been critical to sales.