Tata group’s newly owned Jaguar and Land Rover are planning to take both the brands in to £100,000 plus luxury car market, currently dominated by players like Bentley and Aston Martin. David Smith, who was recently appointed as the permanent chief executive of Jaguar and Land Rover, informed that both the brands would produce highly credible products which will attract most people in the market. Mr. Smith was speaking after the second visit of Indian group’s chairman Mr. Ratan Tata, who bought both the companies for $2bn in April.
Mr. Tata had supported the business plan presented to him in April. The plan for next 30 months included the launch of a new model as a replacement to the XJ saloon next year. After going through the prospective projects during his second visit, Mr. Tata got very enthusiastic about group’s long-term business potential.
According to Mr. Smith, it will take some time to enter in to the £100,000 plus car market which has proved quite fertile for Bentley and Aston Martin. Bentley sold 10,000 units last year and Aston proposes to sell similar quantity next year. According to the executives at Land Rover and Jaguar, China, Russia and Middle East are the potential markets for the sale of £100,000 plus price cars.
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