The new XF saloon is described as a make or break model for Jaguar so getting its pricing right is especially crucial for the ailing British marque. At $49,975, including destination charges, the V8 powered XF is more than $6,000 less than the previous S-Type 4.2L model it replaces. The flagship supercharged version also undercuts the model it replaces, the $65,000 S-Type R, with prices starting at $62,975.

Jaguar is well aware of the XF’s importance and there was never any doubt the new model would be priced competitively against its rivals. Speaking at this week’s Los Angeles Auto Show, Jaguar managing director Mike O’Driscoll stated the “XF is the cornerstone to rebuilding the Jaguar business.”

O’Driscoll declined to comment on the sale of Jaguar and Land Rover, however Automotive News reports that automakers Tata Motors, and Mahindra & Mahindra, and private equity firm One Equity are the three remaining companies still bidding.

The new XF, meanwhile, will arrive in showrooms by March next year.