HUNDREDS of North-East businessmen witnessed the launch of the latest executive saloon this week.

Jaguar's new XJ was unveiled amid fanfares, lights and stage smoke at simultaneous launches in Reg Vardy branches at Stoneygate, Houghton-le-Spring and Preston Farm, Stockton.

The XJ took two years to develop and is the pinnacle of a Jaguar range that is enjoying record sales around the world.

Brian Kelly, Jaguar executive, said: "We are currently selling 130,000 Jaguars worldwide. Ten years ago that figure was just 30,000. We have had a lot of model launches recently but the 2003 XJ, the seventh generation of this model, is the most important."

The new XJ represents an evolution of a model first launched in 1968 and which, for generations, has ferried around the world's top executives and statesmen, including Prime Minister Tony Blair.

But while the family resemblance remains, the latest XJ boasts 21st Century technology, including an all-aluminium body which is 60 per cent stronger and 40 per cent lighter than the outgoing model.