Luxury carmaker Jaguar will launch new ‘affordable’ models from 2015, in a bid to emulate the success of lower cost luxury vehicles made by its sister company Land Rover, sources close to the company said on Monday.
The new cars will include a compact saloon and crossover SUV — currently the fastest-growing models in terms of global sales — and be available in the second half of 2015, the sources added.
Jaguar, part of the Jaguar Land Rover group owned by Tata Motors, is currently known for two-seater sports cars and large saloons. It will make an official announcement about the new range at the Frankfurt International Motor Show in September, the other sources said.
The cheaper versions of Land Rover's Evoque small SUV and Freelander are currently among JLR's top selling models and analysts said Jaguar's move made sense.
“It's a logical idea to use the momentum from Land Rover and expand the Jaguar range," said IHS Automotive research director Christoph Stürmer.
Jaguar's new models will bring it into direct competition with the likes of Germany's BMW and Daimler's Mercedes-Benz.
The new family of more affordable Jaguars will be built on production lines previously used to make Land Rover vehicles which are currently being modified at JLR's plant in Solihull, central England.
The new range is likely to be all-aluminium, as used for the recent Jaguar XJ model. JLR last year signed a deal with a Saudi Arabian firm to buy aluminium from one of the world's largest aluminium smelters.