Jaguar launches new sports car in Philippines; sees luxury market recovery in 2000

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MANILA--Jaguar Cars has launched in the Philippines its S-type sports saloon, the company's lowest-priced model here at $101,852. In a news briefing, Jaguar Philippines Chairman Wellington Soong said he expects sales to be better this year "after experiencing a major fracture because of the peso devaluation.''

The company predicts it will sell 60 units next year. Last year, due to the country's financial crisis, the British car brand only sold 18 vehicles. For the first five months of 1999,sales reached 16 units. The company sells Jaguar XJ series in the Philippines at $126,984.

Copyright June 1999, Crain Communications Inc.

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