Jaguar bares XK model at a price tag of P8.5M

Jaguar Philippines continues to maintain its air of exclusivity even as it tries to build up its sales which has slipped since 2003.

In fact, to stimulate interest in the Jaguar brand, Jaguar Philippines has brought in its top of the line sportscars — the Jaguar XK which carries a price tag of P8.5 million.

The Jaguar XK was formally unveiled to media yesterday by Wellington Soong, chairman and president of Jaguar Philippines.

Sales of the all aluminum body Jaguar XK, Soong admitted, would be very limited at six to eight units a year.

Jaguar’s bestseller, Soong admitted, continues to be the X-type which accounts for about 50 percent of Jaguar Philippines’ total sales as its price tag is still an affordable P2.6 million.

Accounting for 35 percent of Jaguar Philippine’s sales is the S-type which cost P4.3 million for the three-liter variant.

The top of the line XJ model ranges from P5.8 million for the three liter, six cylinder variant and up to P9.5 million.

According to Soong, Jaguar’s annual sales since 2004 has remained below 100.

Jaguar’s best year, Soong said, was in 2003 when Jaguar garnered 22 percent of the Philippine luxury car segment with sales of 151 units, placing third to BMW and Volvo.

Since 2004, however, Soong admitted, Jaguar’s annual sales has remained below 100 and is expected to remain below 100 this year.

However, in 2007, Soong is a little bit more optimistic that sales may improve as he has noticed a resurgence in interest from buyers seeking exclusivity.