Jaguar Land Rover (JLR) is known for its pricey vehicles, but the brand wants to elevate itself into the luxury car market by launching its next generation of motors that will exceed £100,000.
The New Range Rover is the costliest of JLR vehicles, with prices starting at £99,375. However, its new electric cars will push the price up even further when they are launched in 2025, the Sunday Times revealed.
This would mean JLR would encroach on the luxury car market, where the likes of Bentley, which has cars starting at £160,000, has had a firm place for years.
A source told the publication JLR was “not intimidated by reaching higher into that territory”.
Despite their already steep price, Land Rovers and Range Rovers are in high demand. JLR’s most recent figures showed wholesale volumes rose by 15 per cent from Q3 in 2021 to Q3 in 2022, as well as six per cent from the previous quarter last year.
Its order backlog also increased by 10,000 units, showing just how popular these vehicles are at their current price.
Those who cannot afford new Land Rovers and Range Rovers could purchase used ones. Dealer Auction reported the Land Rover Discovery 4 provided a retail margin of £4,340 for sellers in 2022, compared with £3,060 in 2021.
The Land Rover Discovery Sport, Land Rover Range Rover Sport and Land Rover Range Rover Evoque also gave vendors high profits last year.
If you like the idea of fitting new off road vehicle parts to your Land Rover to sell on for a good profit margin, give us a call today to find out how we can help update your car.
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