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Hot New Land Rover Hits the Market

By Jessie Wilkens on July 5, 2011 in Investing

Recession? What recession? That’s what the Land Rover’s Halewood manufacturing plant in Liverpool is saying today. The new “baby” Range Rover has just come off of the production line and it’s already sold out for the year before even having a kilometer put on it.

Range Rover Evoque

Called the Range Rover Evoque, it has 18,000 advance orders from customers around the world. With its £2billion investment, it has sold out its entire first year fleet…and then some. The Evoque is just the first of the long list of new products that Jaguar Land Rover plans to launch in the coming years, as they hope to generate billions of pounds in investment in the UK.

The Evoque is being built in the UK at the Halewood plant on Merseyside, which is also home to the Freelander.

A Greener Car

The Evoque is priced between £30,000 to about £45,000 and already has fans like Victoria Beckham, who unveiled one last July at Kensington Palace.

Following in the trend of trying to promote a green environment, this will be the “greenest” Range Rover yet. It should get 50 miles to the gallon.

As Jaguar Land Rover chief executive officer Dr Ralf Speth said,

“The teams that have designed engineered and built the new Evoque can be immensely proud of their achievement. Worldwide interest in our new car has been exceptional, with 18,000 customer orders received from customers eager to be among the first to own the new Range Rover.”

Good Economic News

While not everyone will be able to enjoy such a luxury item, the production of these Land Rovers is good for the UK economy. With a plan to export 75% of their production around the world, the company predicts it will add £2 billion to the UK economy. Jaguar Land Rover has almost 19,000 people working for it in the UK and they support as many as 140,000 additional jobs through their supply chain, dealer network and other business operations.

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Dr. Ralf SpethEvoqueLand Roverspice girlVictoria Beckham
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