China Daily Global Edition (USA)
Jaguar Land Rover embarks on journey to reimagine future
Jaguar Land Rover is showcasing a lineup of heavyweight models at the Shanghai auto show, reaffirming the importance of China in the British premium carmaker’s global strategy.
The carmaker revealed its strategy, called Reimagine, earlier this year, in which it charts the future of modern luxury by design through its two distinct British brands. At the heart of its plan is the electrification of the brands on separate architectures with different personalities.
By 2025, Jaguar will become a purely electric brand, and around 60 percent of Land Rovers sold will be battery electric vehicles by 2030. In China, the carmaker will build a customer-centered system, introduce a service model based on vehicle-use situations, and improve its digital capabilities so as to speed up and facilitate the global strategy.
Pan Qing, president and CEO of Jaguar Land Rover China, said the carmaker will maximize local advantages in the country in terms of research and development, purchasing and manufacturing and make customer demands its priority.
“Our vision is to become the creator of the world’s most desirable luxury vehicles and services for the most discerning of customers,” said Pan, who is also a member of Jaguar Land Rover’s board of management.
Last year, despite the COVID-19 pandemic, Jaguar Land Rover’s growth in China was strong. For the 2020-21 fiscal year, sales in China reached 111,206 vehicles, up 23.4 percent year-on-year, accounting for 25 percent of its global sales. Last year’s growth momentum has continued into this year. Statistics show that China sales in the first quarter were up 127 percent compared to the same period a year ago, when the market was heavily affected by COVID-19.
It was the best Q1 in five years, said Tim Howard, chief financial officer of Jaguar
Land Rover China. He said sales in March were almost double the figure in the same month last year.
Howard said he expected the premium segment in China to grow further this year, which means more business opportunities for the carmaker.
Last year, a total of 2.5 million premium vehicles were sold in the country, up 14.7 percent from 2019 and accounting for 13 percent of the overall market, according to the China Passenger Car Association.
“We will continue to focus on the growth quality of our business, to achieve double-digit EBIT growth and a positive cash flow,” said Howard.
China has been one of the most important markets for both Jaguar and Land Rover. Last Monday, the first day of the Shanghai auto show, Jaguar Land Rover made the global debut of the new Jaguar XFL sedan and new Defender 110 V8. Meanwhile, it’s halo models Defender 90 and new F-PACE officially hit market.
Richard Shore, president of Jaguar Land Rover Integrated Marketing Sales and Service, said that from now on, every single Land Rover model will have either an MHEV or PHEV option.
“This is just the beginning. As we build upon Land Rover’s leadership in the luxury SUV segment with increasing levels of electrification, we will also maintain our unique ATRS Inside capabilities,” said Shore.
In tribute to Jaguar’s iconic E-Type’s 60th anniversary, the brand launched a special edition F-TYPE at the auto show. The F-TYPE embodies the E-Type’s sports car DNA and beauty, according to the company.
“For decades, Jaguar’s British heritage, beautiful design and breathtaking performance have delighted the world. Today, Jaguar’s racing DNA has been infused with the power of electrification through our participation in Formula E,” said Shore. “We are on the fast track to electrification, but maintaining the brand’s heritage and essence.”
Our vision is to become the creator of the world’s most desirable luxury vehicles and services for the most discerning of customers.”
Pan Qing, member of board of management at Jaguar Land Rover, president and CEO of Jaguar Land Rover China
Today, Jaguar’s racing DNA has been infused with the power of electrification through our participation in Formula E.”
Richard Shore, president of Jaguar Land Rover Integrated Marketing Sales and Service
We will continue to focus on the growth quality of our business, to achieve double-digit EBIT growth and a positive cash flow.”
Tim Howard, chief financial officer of Jaguar Land Rover China