Crossovers, both luxury and non-luxury, are officially a thing in today's auto industry, and automakers are rushing like hell to get more in various sizes into production. They make money. Lots of it. And now Jaguar has announced it'll reveal its new E-Pace "compact performance SUV" on July 13. A couple of teaser images have been released and, unexpectedly, its base price of $38,600, not including a $995 destination charge. The E-Pace will be Jaguar's second SUV after the F-Pace. The all-electric I-Pace, which is already in production, is next.

It's on track to arrive in showrooms in the second half of next year. As for the E-Pace, it'll face competitors such as the Audi Q3, BMW X1, Mercedes-Benz GLA and the upcoming Cadillac XT4, and will arrive in US dealerships in early 2018. The larger F-Pace, along with XE sport sedan, have done wonders for Jaguar, helping to contribute to a 44 percent sales growth in the US through May of this year. The teaser image shows only the rear taillight, and like the F-Pace, the E-Pace will combine "sports car looks with Jaguar performance," according to design chief Ian Callum. Clearly Jaguar hopes the E-Pace will be a sales hit as well, and it probably will be.

But nearly $40k for a base model? Actually, that figure is nearly the same as its competitors' starting prices, so Jaguar isn't asking for crazy money here. Then again, $40k is a lot for a compact crossover, regardless of which brand. Add up the options and, well, you get the idea.