Jaguar Land Rover (JLR) has confirmed it’s ditching five models from its lineup next yr on account of their lack of profitability.
The five models being axed include the XE and XF sedans, the sporty F-Type, the E-Pace SUV, and the all-electric I-Pace SUV. By 2025, Jaguar’s lineup will consist of only one existing model, the midsize F-Pace SUV.
The move which JLR spokesperson confirmed to media outlets is a component of a big transformation for the brand, which goals to go all-electric soon. Jaguar can be positioning itself as a high-luxe brand, targeting higher profitability.
Jaguar plans to launch three recent models built on a platform called JEA (Jaguar Electrified Architecture).
“We’re eliminating five products, all lower value. None of those are vehicles on which we made any money, so we’re replacing them with recent vehicles on newly designed architectures,” JLR CEO Adrian Mardell was reported to have told media at an investor meeting on June 19.
The corporate reported its best annual profit figures since 2015 for the fiscal yr ending March 31, largely on account of three Land Rover models: the Range Rover, Range Rover Sport, and Land Rover Defender.
Within the second quarter of the yr, these three models accounted for 59% of the 111,180 retail units sold globally, contributing to 85% of JLR’s total value, in line with Mardell.
In the identical period, Jaguar sold 15,324 vehicles, while Land Rover sold 95,856. The Jaguar F-Pace was Jaguar’s best-selling model, with 5,292 units sold, making it the only real survivor in Jaguar’s lineup.
This Article First Appeared At www.am-online.com
