JAGUAR has taken the wraps off its new 150mph mid-sized sports saloon - the S-type.

To be produced at the company's Castle Bromwich plant in the West Midlands, the car is being given its world debut at the British International Motor Show at the NEC.

The S-type will go on sale in March, 1999 and will almost double Jaguar's annual production level compared with the 1997 figure. The new car is Jaguar's first smaller saloon since the Mark 2 and original S-type of the 1950s and 1960s.

"The launch of the S-type signals the dawn of a new era in the history of Jaguar," said the company's chairman Nick Scheele.

He added: "The new car represents the first stage of a dramatic product-led expansion of the company over the next four years."

The car is the result of a joint production development with Jaguar's parent company, Ford. A total of £400m has been poured into the S-type, which is creating at least 1,300 new jobs.

Jaguar hopes to sell 40,00 S-types in 1999, rising to 55,000 in the year 2000. Europe and the USA will account for 40 per cent of world sales.

Official prices will be announced nearer March 1999, but the new car is expected to sell from £28,000.

A new AJ-V6 will power the 3-litre version of the S-type, enabling the car to accelerate from 0-60mph in 6.8 seconds.

The 4.0 litre model will have V8 enginesand will be able to go from 0-60mph in 6.6 seconds, according to Jaguar.

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