Jaguar Targets Wealthier Younger Drivers With Its $160,000 Type 00
The Jaguar brand showcased its desire to attract younger, more affluent customers during an event in Paris where they unveiled their latest prototype, the Type 00. This model offers all-electric opulence but comes with a hefty price tag.
The sleek, athletic prototype unveiled to European journalists on Friday hints at a production version slated for release around mid-2026 with an estimated starting price of 150,000 euros ($160,000).
That's twice the price of the current lineup of Jaguars, placing it more in the Porsche range.
But the prestigious British brand -- owned since 2008 by Indian automobile giant Tata Motors -- has embarked on a campaign to remake itself as a ride for a far younger clientele than the one traditionally associated with it. Especially as the market goes increasingly electric.
Towards the end of last year, the firm caused quite a stir when it introduced a new logo with curved typography along with an advertisement that showcased a vibrant, ethnically diverse group of models — without any vehicles in sight.
The Type 00 prototype is just as vibrant: the electric blue variant displayed appeared as though it was taken directly from the set of a "Tron" film.
Jaguar states that the concept guiding their latest release is "exuberant modernism."
The managing director of Jaguar, Rawdon Glover, who was present to take his seat behind the steering wheel of the prototype, described it as "a very clear embodiment of all the future Jaguars that are yet to come."
Glover mentioned that the intended audience was likely "between 35 and 50 years old," noting they should have "a clear appreciation for both design and technology."
Jaguar faces an uphill battle nonetheless.
Based on data from the European Automobile Manufacturers' Association (ACEA), Jaguar accounted for approximately 1.2 percent of Europe’s car sales market in January of this year.
Between April 2023 and the end of March 2024, the firm reported selling 78,000 vehicles across Europe as stated in their 2024 yearly filing.
As the market for electric cars expands, models from Tesla, Volvo, and Volkswagen lead the way, but many European consumers are hesitant due to escalating costs amid looming economic instability.
However, Jaguar anticipates that the Type 00 technology will be appealing, boasting a claimed range of 700 kilometers (430 miles) per charge and versions delivering up to 1,000 horsepower.
Nevertheless, the company failed to provide specifics regarding the hefty batteries that would be installed in the vehicles.
Several high-end automakers are delaying their shift toward fully electric vehicles due to the lackluster reaction from consumers.
Aston Martin, Bentley, Maserati, and other brands have postponed their plans, while Jaguar’s sister brand Range Rover has also delayed producing its electric SUV.