Jaguar's XE saloon has already been described as the most important car the firm will ever make.

While that might have the air of a glib soundbite, it's a claim which rings true in many respects.

When Ford took over Jaguar in 1989, the Midland car-maker was in need of major surgery.

Ford bosses who came to see the production lines at Coventry and Castle Bromwich were said to be shocked at what they saw, likening facilities to an Eastern Bloc factory rather than a modern one in the western world making luxury cars.

Ford got Jaguar back on its feet but its revival has been a slow and long journey and it's not over yet.

While Jaguar Land Rover's turnaround has been nothing short of incredible under Tata, much of that success thus far has been down to the Land Rover arm of the empire.

It is soaring demand for SUVs in all their shapes and forms, particularly in emerging economies, that has driven that success.

Both brands need to grow, the firm is still some considerable way behind German giants like Audi, BMW and Mercedes-Benz and Jaguar has even more ground to make up.

That is why a compact executive saloon is such a crucial car. It's a segment that is very much the mainstream and, if the Jaguar XE is well received, it could double, or even triple, the firm's sales globally.

That means Jaguar has to get it right. Competing against established rivals like BMW's 3 Series, the Audi A4 and the Mercedes C-Class is about as tough a task as one could wish for.

These are well-established premium compact saloons that people buy for their quality as much as for the badge.

In order to succeed, Jaguar needs to be not only as good as its rivals but probably better.

Wooing buyers away from the German big three isn't going to be easy.

The Jaguar looks good, which will give it a head start. It's undoubtedly got more style and presence thanks to Ian Callum's design genius.

It's also incredibly light, thanks to Jaguar's pioneering use of aluminium.

This, combined with the new generation of Ingenium engines being made in Wolverhampton, means it's also lean and green, with economy of 75mpg promised for the four-cylinder diesel model.

If the driving dynamics are right, then Jaguar will almost certainly have a winner on its hands.

However, the firm also needs to offer the kind of after-sales service the Germans have become past masters at to complete the package.

Its last compact saloon the X-Type was produced under Ford and didn't hit the mark.

Rightly or wrongly, it was perceived as a Ford Mondeo in different clothing. It had a short and not particularly memorable lifespan.

Hopefully, Jaguar will have learned the lessons of the past and, in the XE, have come up with a car which is a world-beater and one which will not only see Jaguar Land Rover's success continue but be a boost to the hundreds of firms in the supply chain in the Midlands and throughout the UK sharing in that success.