Azernews.Az

By Bloomberg

Jaguar will add its first sport-utility vehicle with a production version of the C-X17 concept car that was first shown in 2013, extending an expansion by the British carmaking group.

Underpinned by new vehicles such as its entry-level XE sedan and the Discovery Sport from sister brand Land Rover, the luxury unit of India’s Tata Motors Ltd. targets boosting sales to a record of more than 500,000 vehicles in 2015. Jaguar Land Rover delivered 462,678 vehicles last year, an increase of 9 percent for its fifth straight year of growth.

The expansion will continue in 2016, when the five-seat Jaguar crossover F-PACE will go on sale, the Whitley, England- based manufacturer said in a statement.

Jaguar Land Rover is investing 3.5 billion pounds ($5.3 billion) in the year through March to broaden its lineup amid stiffening competition. The luxury-car maker, which contributed 81 percent of parent Tata’s revenue in the quarter ended Sept. 30, is looking to boost demand with new models across Jaguar and Land Rover brands.

In 2015, Jaguar will begin deliveries of the XE saloon, as the car style is known in the U.K. It will be Jaguar’s cheapest vehicle at about 27,000 pounds and rival the likes of the BMW 3- Series. The car is a critical test of Jaguar’s ability to compete for entry-level luxury buyers after halting production of the X-Type last decade because of disappointing sales.

Including the rollout of the Land Rover Discovery Sport SUV, the carmaker plans 12 “significant new product actions” this year, it said in the statement. Jaguar Land Rover’s growth in 2014 was lifted by a 28 percent gain in China to 122,010 vehicles. Demand rose 2 percent in North America and 3 percent in the U.K.

The carmaker, which opened its first manufacturing plant outside of the U.K. in October, aims to capture 10 percent of China’s premium SUV market as its first local factory allows the luxury marque to cut prices and boost sales in the world’s largest auto market.