Jaguar eyes bigger share of RP market

Jaguar Philippines is hoping to increase its share of the luxury car market with the introduction of its Corporate Executive Fleet (CEF) program.

According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), Jaguar accounted for 22 percent of the luxury car segment last year with sales of 151 units, placing third to BMW and Volvo.

BMW accounted for 45 percent of the luxury car market with sales of 297 units and Volvo at second with sales of 198 units, accounting for 30 percent of the market.

Jaguar Philippines chairman and president Wellington Soong said that Jaguar today is the most exclusive premium luxury brand that can be offered to discriminating executives of the Top 500 Philippine corporations.

"Choosing Jaguar would make a very strong corporate statement reflecting the quality and brand of vehicles provided to its executives," he said.

Soong is optimistic that even if Jaguar Philippines is only able to entice five to 10 corporations to avail of the CEF program, it can easily duplicate its sales of 151 units last year.

Under the Jaguar CEF program, a minimum purchase of three units qualifies a company or corporation and its affiliates to an executive fleet price that is expanded and retroactive once the company purchases a total or 10 or more units within a 12-month period.

"The CEF program, furthermore would entitle the company or corporation to additional concessions such as discounts on labor charges, in-house insurance rates and LTO registration," Soong said.