Tata Motors-owned Jaguar Land Rover launched luxury sedan Jaguar XJ Ultimate, priced up to Rs. 18.8 million (US$ 348,900) (ex-showroom, Mumbai).

The XJ Ultimate is available with Jaguar's existing 5.0 litre V8 supercharged petrol engine and 3.0 litre V6 turbocharged diesel engine, all driving the rear wheels via an eight-speed transmission, the company said in a statement.

While the 5.0 litre V8 option will cost Rs. 18.8 million (ex-Showroom Delhi), the 3.0 litre diesel variant is priced at Rs. 17.8 million, it added.

"Based exclusively on the long-wheelbase XJ, the interior changes applied to the Ultimate focus on the rear accommodation, extending the car's limousine remit to provide a fully-appointed luxury business class experience for the most discerning of global customers," the company said.

The company is launching the luxury sedan with an eye to increase sales in India. For 2012, it reported 32% growth in sales at 2,393 cars, compared to 1,813 units in the previous year.

Last month, the company said it would start assembling a variant of its Jaguar XF in India, thereby bringing down the starting price of the model by over Rs. 1.2 million.

The variant, which would be the second JLR model to be assembled in India, with a 2.2 litre diesel engine would be introduced in India for the first time at an entry price of Rs. 4.45 million (ex-showroom, Mumbai) and would be assembled at Tata Motors' Pune facility.

Jaguar's currently available diesel and petrol XF variants with 3.0 litre and 5.0 litre engines are priced between Rs. 5.71 million and Rs. 10.3 million (ex-showroom).