The 42nd Tokyo Motor Show 2011
Jaguar Land Rover Press Conference
Phil Popham Speech
November 30th, 2011
Good morning. I am delighted to welcome you to Jaguar Land Rover at the 42nd Tokyo Motor Show.
It's great to be here in Japan, representing these two great brands at such an exciting time for our business.
We have an excellent product portfolio that is in high demand. We have our strongest product line-up ever and have added significant 12MY enhancements to the Jaguar XF and XK, Land Rover Discovery and Range Rover Sport – and we are performing strongly despite the economic challenges in many markets.
JLR Japan’s annual growth in 2010 was almost 50%, and 2011 year to date growth is up 21% versus the same period last year.
Looking globally, in the previous financial year we reported a record profit and have achieved strong results in the first two quarters of this year as well, more than ￡500 million Profit Before Tax.
Jaguar Land Rover sales in October 2011 were approximately 30,000, collectively up 30% versus October last year.
This performance is good news for Jaguar Land Rover because it demonstrates the underlying strength of our business as we continue to implement our ambitious growth strategy.
We are passionate about having the right products, in the right segments, in the right markets. Not only with our existing models like the Range Rover Vogue -still the SUV benchmark- or the all-aluminium XJ, but also with the world-class new vehicles we are introducing.
And I guess the clearest evidence of our product drive is our new Range Rover Evoque, which we are launching for the Japanese market here today.
The Range Rover Evoque is a breakthrough vehicle that defines the fastest growing SUV sector.
The volume of Evoque pre-sales is unprecedented. We currently have approaching 40,000 advance orders for the car across the world, and 80% of these customers are new to the brand. This proves how desirable, convincing products with substance can attract new customers.
They are attracted by the unique exterior design, the luxurious interior, and the compact size.
Lead times stretch well into the first quarter of next year. And the order bank continues to grow. We expect this trend to continue as the Range Rover Evoque goes on sale here in Japan in March of next year.
Deliveries have just begun in Europe and we expect it to be our best selling model globally. An astonishing feat for a new model, in a new sector.
Looking closer to home, the compact premium SUV segment, which is the target segment for Evoque, has grown 330% in the past 3 years in Japan.
In 2007 there were just 2 nameplates in the compact premium SUV segment. Today there are 6 and the Evoque will bring the number to 7, which is likely to mean a very busy 2012. Indeed, Jaguar Land Rover Japan is looking forward to expanding this already accessible segment and to welcoming new customers to the brand.
We know that we’re entering an extremely competitive segment, but we believe that the outstanding Evoque will delight and fascinate Japanese customers, as it has delighted and fascinated customers right around the world.
Retail prices for the Evoque will start at 4.5 million Yen for the 5 door and 4.7 million Yen for the coupe in Pure guise. The 5 door will also be available in luxurious Prestige format, and the coupe in an additional sporting Dynamic format.
So…we are proud of the Evoque’s early and spectacular success. We are also proud that the Evoque is the latest example of Land Rover’s proven ability to innovate and to define new segments.
This ability is further highlighted by Land Rover’s global sales so far this year, up 17% vs. the same period last year, and the next 12 months, will see us break all sales records.
Moving on to Jaguar, where we’re strengthening our brand identity, extending our global reach and investing in exciting new products.
With Model Year 12 we are also introducing the exciting new XKR-S. This is the high performance version of our luxury sports GT.
With a unique exterior design, a lowered ride and a spectacular interior, the XKR-S delivers uncompromised performance -with a maximum speed of 300km/h, and zero to one hundred in just 4.4 seconds.
This is the fastest and most powerful Sport GT Jaguar has ever built.
With the XKR-S, we now have a car that is capable of breaking through the 8-minute barrier when lapping the famous Nurburgring.
Drivers will enjoy the car’s phenomenal performance and animal-like agility, while enveloped in a relaxed and luxurious interior.
It is this duality of performance and luxury that defines all legendary Jaguar GTs, and we’re delighted that this exhilarating car will be on sale in Japan from this Saturday, 3rd December, with a retail price of 17.5 million Yen.
Today…..thanks to an unprecedented level of investment in new product such as this, the Jaguar brand is revitalized across the world.
On the stand today you will also see an XFR from the XF series, our top selling nameplate. The multiple, global award-winning XF saloon has been refreshed for 2012 model year. There is also the highly acclaimed XJ Supersport.
We have a clear vision of the unique position we occupy in the luxury market.
Exquisitely designed, exhilarating to drive, and with an authentic pedigree, our cars ignite a passion in the hearts of individuals, who demand more than just a premium machine.
I believe our latest cars -and our vision for the future- prove that Jaguar Land Rover is once again, a world leader in automotive design and technology…
And I can assure you that we are investing in our future. In fact, I can tell you we are investing ￡1.5bn a year for the next five years… and in the same time period we will deliver more than 40 major product actions as we realise the potential of the Jaguar and Land Rover brands.
Our advanced technology driven strategy is to offer an unbeatable combination of excellent economy, and emissions, and superb drivability, and performance… tailor-made solutions for our customers.
Nowhere is this better expressed than in the C-X16, which made its first appearance at the Frankfurt Show in Germany. That concept is our vision for a compact, rear wheel drive, two-seater sports car.
And again, with the DC100 – our Defender concept for the 21st Century. A car that takes the essence of Defender but brings it bang up to date, relevant for a sporty modern lifestyle.
These extraordinary advances will drive an expansion in our sales - already this year our retail performance is 10% ahead of 2010.
And we will continue to grow, exporting 80% of our vehicles. Our sales operations now have a much wider global base, which means we are not so dependent on individual market
So Jaguar Land Rover is moving forwards rapidly - in global presence, in product innovation and in profitability.
We have a clear strategy, a focused organization and clear priorities.
Our financials are solid and we are very optimistic about the future - despite the volatile economic environment.
We are inspiring our customers with seductive products, delivering the highest standards of technology --- and the products you see here today are a clear signal of the incredibly exciting future that Jaguar Land Rover faces.