HomeBusinessPremier Auto, launches Jaguar XE, targets 5% market share

Premier Auto, launches Jaguar XE, targets 5% market share

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Premier Auto is targeting a 5% market share in the country, as they announced a new line of vehicles that will be coming into Zimbabwe from now into 2016.

BY TATIRA ZWINOIRA

Speaking to NewsDay on Wednesday at the launch of the new Jaguar XE in Harare, Premier Auto Zimbabwe general manager, Manfred Chaniwa said although business has been tough, the market was responsive to their products.

The Jaguar XE that was launched in Zimbabwe on Wednesday at Premier Auto Services
The Jaguar XE that was launched in Zimbabwe on Wednesday at Premier Auto Services

“Business has been tight, but we are selling cars and it is good that we are actually getting the customers. We are attracting that high networth type of clientele to try and push our products. I am happy that we are getting support from the market,” he said.

“We have gone into partnership with various banks, where basically the bank will ask for a deposit of 10% to 20% with the balance to be paid over 12 to 36 months. You negotiate your interest with the bank. The bank has to do its due diligence and if they are happy they give you the money, you pay for the vehicle and you drive away with your car.”

Premier Auto Zimbabwe is the licensed dealer of Jaguar in the country and is using the new Jaguar XE to launch a series of vehicles that include the Jaguar F Pace, new XF and the Discovery stretching into next year.

The move to create financing partnerships with different banks is meant to expand Premier Auto’s existing market of upper management to include middle management as part of a wider plan to increase its market share from the current 2,1%.

Chaniwa said some of the partners include Stanbic Bank, which is the company’s key partner, African Century, ZB Bank and MBCA Bank Limited.

He said Tata came in with “the money in terms of research and development to develop new models for cars, hence, the reason we are launching a lot of new models every year”.

The new Jaguar XE will start at an entry level of $69 000. It comes in a 2.0 turbo charged and 3.0 super charged engine with an engine displacement of 1 999 cc and 2 995 cc, Torque (RPM) of 340 and 450, Net Power (kw) 177 and 250, and fuel consumption combined (1/100km) of 7,5 and 8,1 respectively.

Chaniwa said that they were still receiving orders from corporates despite the depressed market.

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