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regular-article-logo Sunday, 23 June 2024

Why Range Rover, Range Rover Sport prices are likely to fall in India

The price of two models is set to come down in the range of 18-22 per cent with the local production

PTI Mumbai Published 24.05.24, 02:18 PM
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Tata Motors owned Jaguar Land Rover will start producing its Range Rover and Range Rover Sport in India, marking a first for the iconic models in their 54-year long history, to be rolled out from a country outside of the UK.

Till now the two models were only produced in Jaguar Land Rover's Solihull plant in the UK and then exported to around 121 markets globally, including India.

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With enhanced localisation, the Marquee British brand aims to make the two products better in terms of pricing to cater to a larger set of customers in India.

The price of two models is set to come down in the range of 18-22 per cent with the local production.

Tata Group Chairman N Chandrasekaran lauded Tata Sons Chairman Emeritus Ratan Tata for bringing the JLR brand to the Tata family 15 years ago.

"..the Range Rover will be manufactured right here in India is just a super feeling..its a very very special moment and I feel proud.." he said.

He noted that the company would see an increase in sales in the country going ahead.

"We will sell more, I am very confident that it's going to be a great journey from here," Chandrasekaran said.

And the manufacturing here should really send a signal and show the confidence that the company has in this market, he added.

In an interaction with PTI, JLR India Managing Director Rajan Amba said the local production is a big step for the company to make the two models accessible to a wider set of customers in the country.

"For the first time in the history of the company, the Range Rover and Range Rover Sport will also now be produced in India...this is a huge announcement for us as these are our flagship cars and have only been produced in Solihull in their 54 years long history," Amba said.

He noted that the step is also an indication of the kind of market India is developing when it comes to premium products.

"This (local assembly) will allow us to take the benefit of the duty structure and to bring the price down of the two models by about 18 to 22 per cent," Amba said.

The dip in prices will help in making the models affordable and enhance sales, he added.

JLR India reported an 81 per cent increase in retail sales last fiscal in India at 4,436 units.

Amba said the company has calibrated expansion plans to grow business in the country.

"Our intent is to double our business in the next three years. We will bring innovative products, leverage the Tata Group ecosystem and bring in the latest innovative products to the country," he said.

JLR also plans to introduce six new battery electric vehicles in India over the next four years, Amba noted.

With local production, the price of Range Rover Sport, which would be available for deliveries in August this year, would come down to Rs 1.4 crore as compared with Rs 1.9 crore currently, Amba said.

Similarly, the price of Range Rover which will be available in the market from this month-end, would cost Rs 2.6 crore for the Autobiography version which is currently tagged at around Rs 3.3 crore, he added.

"So the products remain very premium but more in a price range where we can capture that aspiration and desire to be affiliated to the brand," Amba said.

The local production would also help over the next year to bring down the waiting period on the two SUVs, he stated.

With the addition of the two models, JLR India will now be rolling out a total of six models from the Pune-based facility it shares with Tata Motors.

JLR currently has an installed production capacity of around 10,000 units per annum at the plant.

The company already assembles Range Rover Velar, Range Rover Evoque, Jaguar F-PACE and Discovery Sport in Pune.

JLR Chief Commercial Officer Lennard Hoornik said that over the last few years, India has witnessed steady and spectacular economic growth and is poised to grow consistently in the near future as well.

This growth has resulted in tremendous opportunities to localise product offerings for Indian customers, he stated.

Local manufacturing of the Range Rover and Range Rover Sport in India is the next significant step towards the brand consolidating its position as the most desirable modern luxury SUV family, in the country, Hoornik said.

Range Rover MD Geraldine Ingham said retail sales in India have surged and the local manufacturing of the Range Rover will enable the brand to respond to this growing demand.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.

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