The banks are crashing. Jobs are being lost. No-one can get a mortgage.

Is this a good time to launch a luxury brand? Well, Nissan seems to think so.

It’s unveiling Infiniti, a marque designed to take on BMW, Mercedes-Benz, Audi and co.

But whatever you think of the poor timing, Nissan has done its homework and says this is just the right time for such a venture.

The thinking behind the decision is that Nissan is so ingrained in our consciences as a value-for-money brand that it needs to create a separate brand to crack the luxury market.

In fact, Infiniti isn’t new. It was launched 20 years ago, with America in mind. Its biggest market is currently Russia.

Why change now? The fact that good diesel engines will soon be available in Infinitis was key, considering how important diesels are in the luxury market.

The first Infiniti dealership in the UK has just opened in Reading, and others are on their way in Glasgow, Birmingham and, importantly for us, Leeds.

So, what does Infiniti have in store for us? Well, a pretty impressive range of cars: the G37 in saloon, coupe and convertible format, the EX 4x4 and the bigger FX. This five-strong range costs from £35,200 to £53,800.

Tested is the G37, arguably the most important model, a saloon car which has coupe and convertible siblings, while Infiniti also makes the EX37 and FX37 (coupe-crossover and large SUV).

Infiniti has no doubt how and why it will succeed. It says that while the luxury saloon market is busy, it is also stale, and this might be a breath of fresh air.

More than that, it says the G37 matches the opposition in style, performance, equipment and value, while the ‘ownership experience’ will be second-to-none.

But whether a newcomer will persuade enough flush company executives to invest tens of thousands of pounds in a new brand rather than play safe with a BMW or Mercedes-Benz, only time will tell.

The obstacle of lack of garages is significant, though Infiniti seems determined to overcome it. A Yorkshire garage is on the cards and in the meantime they assure you that Infiniti clients (the word customer is so passe!) will be very well looked after, albeit at a distance.

Anyway, more about the car. It’s smart, different and very well assembled. It drives gorgeously and doesn’t feel (as I feared it might) like a Mercedes-Benz. Rather, it feels like an Infiniti.

And so it should. While Infiniti is new to the UK, it has been making cars for 20 years or more.

There are three main versions of the G37 saloon – the well- equipped G37, more luxurious G37 GT with leather upholstery, and sport-oriented G37S with four-wheel active steer and sports suspension settings. All-Wheel Drive option is offered on G37 and G37 GT versions.

The G37’s interior is special. Not young and fresh like a BMW or stately like a Mercedes-Benz, it’s a successful combination of the two. The driver’s quarters have a ‘scooped-out’ design to emphasise the concept of a cockpit in contrast to the open, spacious design of the passenger area.

At 2,850mm, the wheelbase is longer than its key rivals, which translates into class-leading space for rear passengers. The rear seats can also be reclined, adding even more comfort.

Engines are important in this market. There is no diesel yet. Instead, we have a 3.7-litre V6, a potent, high-revving, 24-valve twin cam unit producing 320 PS.

Standard features include the intelligent I-key with smart access and push-button starter, and a six-disc, seven-speaker audio system with a socket for MP3 players. Bluetooth phone connectivity and cruise control with speed limiter can be operated via steering wheel switches.

Other features include power seats, auto-dimming rear view mirror, front and rear parking sensors, automatic lights and wipers, 18-inch alloy wheels, six airbags and integrated fog lamps.

The ‘Scratch Shield’ paint is also standard. It incorporates a highly-elastic resin in the clearcoat to increase the paint’s flexibility. A car painted with ‘Scratch Shield’ can exhibit up to five times fewer scratches than a conventional clearcoat in the same conditions.

The G37 GT version adds extra comfort with leather upholstery, a ten-way power driver’s seat with power lumbar support and an eight-way powered passenger front seat. Heated front seats are also standard and the I-key incorporates memory positions for driver’s seat, steering wheel column and door mirrors.

Infiniti is synonymous with vehicle quality, and that’s something which doesn’t happen by accident. On the production line in Japan, every vehicle – not just every tenth – is laser-scanned to ensure that panel gaps are within prescribed limits.

PRICE: £33,500.

ENGINE: A 3.7 litre V6 petrol unit generating 320PS through all-wheel-drive and seven gears.

PERFORMANCE: Top speed 155mph, 0 to 60mph in 5.9 seconds.

COSTS: Average 26.9mpg.

EMISSIONS: 246g/km.

WARRANTY: Three years’ unlimited mileage.