The new variant will be powered by 2.0l-litre diesel engine that delivers a power output of 132 kw. It will be in addition to the 2.0l litre petrol engine that is already on sale in the country since February 2016.
With raising target price to Rs 665 (from Rs 530), Citi said it felt a combination of improving model cycle plus weak British pound should benefit JLR's margins and improve free cash flow generation over medium term.
JLR, the UK's leading manufacturer of premium luxury vehicles, reported its July retail sales of 44,486 vehicles, up 34 percent compared to July 2015, which was driven by strong sales of the Land Rover Discovery Sport, the Jaguar XE and the F-PACE.
Tata Motors-owned Jaguar Land Rover on June 9 launched a variant of its sports saloon Jaguar XE in India, priced at Rs 43.69 lakh
In December, JLR global retail sales saw a growth of 20 percent annually at 49553. Jaguar sales rose 20 percent (Y-o-Y) at 838 2units while Landrover sales grew 20 percent (Y-o-Y) at 41171 units.
"The all-new Jaguar XE and the all-new Discovery Sport continued to impress this month, retailing more than 13,000 vehicles in total," JLR Group Sales Operations Director Andy Goss said.
Antique Stock Broking has reiterated buy rating on the stock with a target price of Rs 509 per share (reduced from Rs 583 earlier), implying 61 percent upside.
UBS believes risk-reward looks attractive for Tata Motors, as it expects Jaguar Land Rover (JLR) volumes growth to move back into double digits from Q3FY15 driven by the ramp-up of the Chery JV plant and new models – Jaguar XE, XF and Discovery Sport.
Nomura is not much concerned about the disappointment as underlying demand for the company‘s products remains strong. The brokerage reiterates a buy rating. Nomura states that low sales volume may be possibly be due to lower despatches to China for the Evoque model to clear inventory.
Shares of Tata Motors declined 1.7 percent intraday Friday following sluggish retail sales reported by Jaguar Land Rover (JLR) in February.
British car maker Jaguar, known for its sporty sedans, will launch the F-PACE offroader in 2016, entering the ultra popular segment of the luxury sports utility vehicle in a radical departure for the 80-year-old brand.
The additional workforce, intended for its Solihull plant in the West Midlands region of England, coincides with Jaguar's entry into the sports utility vehicle (SUV) sector with the all-new Jaguar F-Pace unveiled at the Detroit auto show yesterday.
The positive outlook indicates that an upgrade could occur over the next 24 months if JLR continues to maintain its profitability, generate positive free cash-flows and increase its breadth and volume of products, it said
If the company manages to clock in sales of 60,000 units then Jaguar could grab around 3.5-4 percent market share in the segment, says Nomura.
The XE will also be the first production Jaguar car to be made entirely from a new aluminium architecture, the likes of which was previewed with the C-X17 SUV