Is this an early sign of success for the brand’s first all-electric model?
There's no question Jaguar took a big risk with its all-new I-Pace SUV. It's not just any SUV, but rather an all-electric one aimed directly at the segment leader, the Tesla Model X. But sometimes risks pay off. Fortune favors the bold, says the ancient Latin proverb.
Inside EVs examined Jaguar's October global sales figures and realized it sold a total of 1,200 I-Paces, a new record, though the I-Pace only hit the market fairly recently. All told, Jaguar has sold 2,468 units. But October was a very good month considering a total of 710 units were sold in September.
If that uptick in sales continues, then Jaguar will probably start breathing a huge sigh of relief. Jaguar's total October sales volume was up by 11.6 percent for a total of 13,764 units. The I-Pace accounted for an 8.7 percent market share for the brand. At the same time, however, nearly the entire increase of Jaguar sales fell on the I-Pace's shoulders.
Remember, Jaguar Land Rover is currently experiencing some financial issues, largely due to Brexit, US-China relations, and decreased demand for diesel in Europe. Its parent company, Tata Motors, has already announced a turnaround plan that's already underway. As previously noted, the problem is not with JLR's vehicles but rather uncontrollable market and global circumstances beyond its control.
With the expected continued decrease diesel demand, models like the I-Pace are in a prime position to help pick up the slack. In the relatively near future, don't be surprised to see global I-Pace sales figures increase to around 2,000 units monthly. Considering all-electric vehicles account for barely one percent of all new car sales, that's really not so bad. We've also heard the upcoming XJ large sedan successor could be all-electric as well. It would make sense for JLR to further utilize the I-Pace's platform for additional models.