Jaguar Land Rover (JLR) is facing a slow down in its sales in the Indian market amid uncertainty over the India-UK free trade agreement (FTA). The automaker’s top executives met at Bombay House on Monday to discuss the developments, a day ahead of the company’s quarterly results, ET reported quoting sources.
Despite the recent slowdown, JLR India has posted impressive growth in recent years. The company achieved record sales in FY25, with retail sales reaching 6,183 units, reflecting a 40% year-on-year increase. Wholesale volumes also rose by 39% to 6,266 vehicles.
Notably, sales have more than doubled over the past two years, with the momentum continuing in the March quarter, where retail sales surged 110% and wholesales jumped 118%.
Though luxury car buyers are generally less price-sensitive than mass-market consumers, dealers say the lack of clarity on the much awaited FTA has caused hesitation among potential buyers.
"Customers have put a hold on purchases. Many are also not doing the full and final settlement, hoping to see some reduction in prices soon," a JLR dealer noted.
However, not all dealers are concerned as Land Rover models like the Land Rover Discovery, Range Rover Evoque and Range Rover Velar, are largely assembled locally and hence may not see significant price fluctuations.
The success of models like the Defender and Range Rover SUVs played a crucial role in this growth. The Defender emerged as the highest-selling model, with a 90% increase in sales, followed by the locally assembled Range Rover and Range Rover Sport models, which grew by 72% and 42%, respectively.
The ongoing UK-India FTA is set to cut import duties on British luxury cars such as Rolls-Royce, Aston Martin, and Jaguar Land Rover, from the current 100% to 10% over five years.
Despite the recent slowdown, JLR India has posted impressive growth in recent years. The company achieved record sales in FY25, with retail sales reaching 6,183 units, reflecting a 40% year-on-year increase. Wholesale volumes also rose by 39% to 6,266 vehicles.
Notably, sales have more than doubled over the past two years, with the momentum continuing in the March quarter, where retail sales surged 110% and wholesales jumped 118%.
Though luxury car buyers are generally less price-sensitive than mass-market consumers, dealers say the lack of clarity on the much awaited FTA has caused hesitation among potential buyers.
"Customers have put a hold on purchases. Many are also not doing the full and final settlement, hoping to see some reduction in prices soon," a JLR dealer noted.
However, not all dealers are concerned as Land Rover models like the Land Rover Discovery, Range Rover Evoque and Range Rover Velar, are largely assembled locally and hence may not see significant price fluctuations.
The success of models like the Defender and Range Rover SUVs played a crucial role in this growth. The Defender emerged as the highest-selling model, with a 90% increase in sales, followed by the locally assembled Range Rover and Range Rover Sport models, which grew by 72% and 42%, respectively.
The ongoing UK-India FTA is set to cut import duties on British luxury cars such as Rolls-Royce, Aston Martin, and Jaguar Land Rover, from the current 100% to 10% over five years.
You may also like
Football: Jonathan David announces departure from LOSC Lille
Haj 2025: All-women group of Indian pilgrims arrive in Jeddah
India can become a global manufacturing, export hub for eyewear: Piyush Goyal
PS Plus Extra and Premium May 2025 games confirmed – Sand Land leads dry and dusty update
Top 12 Kevin Costner films ranked by fans and Robin Hood didn't even make the list
