2008 British Auto Show Preview: Jaguar Wants To Leap to $200,000-Plus Bracket

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LONDON — Jaguar this week will pull the wraps off its special XK60 anniversary model, with prices starting at more than $120,000. But the iconic British brand, now owned by India's Tata group, has set its sights even higher: on the $200,000-plus supercar market.

The limited-edition XK60 marks the 60th anniversary of the XK-Series. It goes on sale in August in both coupe and convertible variants. Prices will start at $121,600 for the coupe and $133,600 for the convertible, and stickers include $10,000 worth of options at no additional cost.

Standard equipment on the XK60 includes a new front bumper and mesh grille, revised rear valance, rear spoiler, chrome vents, 20-inch wheels and a new gearshift lever.

The original XK120 sports car was launched in 1948 and has since become a collector favorite.

To be formally unveiled this week at the 2008 British Auto Show, the XK60 will be joined on the Jaguar stand by the limited-edition XKR-S, with a U.K.-only production run of 50 units that is already presold. Jaguar also has a face-lifted XK in the pipeline for 2009, as well as a replacement for the XJ due in late 2009.

The company has even higher aspirations, according to Britain's Financial Times. In an interview, David Smith, the new CEO of Jaguar Land Rover said Tata wants to take both brands into the $200,000-plus segment of the ultra-luxury market, where Jaguar presumably would compete with Bentley and Ferrari, among others.

"Both Jaguar and Land Rover, through the Range Rover brand, should be able to produce very credible products to appeal to people in those markets," Smith told the paper.

He said a significant number of potential buyers for more expensive cars live in China, Russia and the Middle East: "The number of high-net-worth individuals in these markets is increasing exponentially, and they now have the ability and desire to buy such vehicles."

In the U.K., Land Rover's most expensive model is the $143,700 Range Rover Vogue SE.

What this means to you: We're having a little trouble seeing the brand that brought you the X-Type as a credible competitor to Ferrari and Bentley. — Paul Lienert, Correspondent