Monthly Archives: July 2017

Luxury Car Brands Produce Electric Vehicles Amidst Sales Woes

 

Fresh evidence from the luxury auto industry shows that well-known brands are finding fewer buyers. With BMW’s sales down by 2.8 percent, according to the New York Times, the auto industry’s strategy of ushering in new models to attract more buyers is not working.

BMW’s 3 and 4 car sales plunged over 20 percent in 2016 and fell another 8 percent in the early part of 2017. Mercedes, to a lesser extent, is experiencing the same. Jaguar Land Rover also saw a 2.3 percent drop in April due to a considerable fall in demand from overseas markets. Should carmakers be worried?

Something to Look Forward to

While luxury automakers are experiencing a slump in sales, analysts say there is something to look forward to and it has something to do with luxury electric cars.

A market analysis done by Experian Automotive found that electric car buyers are younger and richer than those who opt for hybrids.  While this isn’t just about the luxury electric vehicle market, it is an interesting study that gives car enthusiasts a glimpse of the future. It is also significant to note that there are only a few luxury EVs that are almost ready for the road.

As climate change concerns soar, more people, especially the younger generation, are now more aware of their carbon footprint. In fact, according to Experian Automotive, rich environmentalists are now opting for luxury EVs. There is a growing demand for high-end electric cars and luxury automakers are getting ready for this surge.

In March of 2017, Jaguar’s much anticipated I-PACE was seen on London’s streets. The EV, which will arrive in the US in 2018, is described as “a striking preview” of Jaguar’s electric vehicles. Audi and Mercedes-Benz will be launching their electric vehicles in 2018 while BMW’s newest EV will follow in 2020.

 

Jaguar I-PACE in Production, US arrival in 2018

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Jaguar is poised to launch its new I-PACE electric SUV this 2017 but sources say it won’t arrive in the United States until next year.

While the US release is later than what many Jaguar fans want, the luxury brand has beaten its rivals in the race to release the first mainstream electric car. German brands Audi and Mercedes-Benz reportedly won’t have their own electric-powered vehicles ready until 2018. BMW’s own electric car, on the other hand, won’t be launched until 2020.

The I-PACE was unveiled by Jaguar when the brand went to the 2016 Los Angeles Auto Show. It has been making its rounds online since then. Jaguar’s Director of Design Ian Callum said, “The feedback on the I-PACE Concept has been fantastic.”

The SUV is quite electrifying and according to Jaguar’s website, it is “a striking preview” of their first electric car. The 400 HP, all-wheel drive, five-seater starts in as fast as 4 seconds and “reaches 80% charge in 90 minutes.”

As what enthusiasts of the brand expect, the I-PACE has an elegant exterior and share some design concepts from the F-Pace crossover.

Henry Payne of The Detroit News said, “The electric I-PACE is a Tesla Model X fighter. But without the gull wings.” He added that the electric car bears Jaguar’s signature design cues, “but its sleek, cabin-forward design is unique to the five-passenger EV as it opens up acres of interior space thanks to the lack of engine under the bonnet.”

While it has more space than other models from the brand, many are worried about its range. Jeremy White from Wired says that the five-seater can reach over 500 kilometers on a single charge. He adds, “Drivers with an average daily commute of 40 to 50 km could, in theory, get away with only recharging it once a week.”

Last March, the electric SUV hit London’s streets for a test drive. It was spotted near Olympic Park in Stratford showing its moves. Car enthusiasts agree that the new model is quite radical because it’s a purely electric vehicle on a new platform.