What's Happening?
Frank Stephenson, a renowned automotive designer known for his work on the Ferrari F430 and BMW X5, has expressed critical views on Jaguar's new electric concept car, the Type 00. Stephenson described the design as lacking cohesion and appearing 'unfinished,' despite its aim to elevate Jaguar into the super-luxury market alongside brands like Bentley. The Type 00, set to be priced around $130,000, is part of Jaguar's strategy to double its average transaction price, even if it means losing a significant portion of its current customer base. Jaguar's managing director, Rawdon Glover, has acknowledged that the company expects only 15% of its existing buyers to purchase the new model.
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Why It's Important?
Jaguar's decision to move into the super-luxury market with the Type 00 represents a significant shift in its business strategy. By potentially alienating 85% of its current customer base, Jaguar is taking a considerable risk that could impact its market position and financial performance. The move is part of a broader trend among automakers to focus on high-margin luxury vehicles, which could reshape the competitive landscape in the automotive industry. Success or failure in this venture could influence Jaguar's future product development and brand identity.
What's Next?
The production model of the Type 00 is expected to debut before the end of the year, with sales commencing in 2026. Jaguar's 'Copy Nothing' ad campaign, which has faced criticism, will continue to play a role in the brand's reinvention. The company will need to address design concerns and market reception to ensure the Type 00's success. Stakeholders, including customers and industry analysts, will be watching closely to see if Jaguar can successfully transition into the super-luxury segment.
