Pleasantly surprised - that's what you'd call Jaguar's Filipino representatives. The Philippines are suffering from a very localized version of the worldwide food crisis. Rice shortages have curtailed spending; something that affects luxury goods sellers more than anybody else. But what's happened to Jaguar?
Monday, May 12, 2008
Well, to be true, the numbers are small. The percentages, however, are huge. Sales targets for the first quarter of 2008 were exceeded by over 40%. Before the formal launch of the XF, Jaguar's Philippines outpost sold six of the cars.
Not only is Jaguar selling more XFs in the southeast-Asian country than anticipated, they're also selling an inordinately high amount of the hot varieties. Says the local Jaguar chairman: "It’s like the buyers are thinking, it’s expensive in the first place, so why not go all the way?"
This rebound from nine years of lackluster S-Type sales has hoisted the Philippines to a high point in Asian-Pacific sales for the British (Indian-owned) luxury car manufacturer. Only Hong Kong, Singapore, Thailand, and Malaysia buy more Jags in the region.