Following the success of the locally assembled Range Rover models, Land Rover is set to begin local assembly of the Defender SUV. This is expected to reduce the Defender’s price by around Rs 20 lakh, making it more appealing to a wider audience.
Land Rover began locally assembling the Range Rover and Range Rover Sport in India, resulting in price reductions of up to Rs 56 lakh. This move has made these luxury SUVs more accessible and boosted their popularity in the Indian market.
Jaguar Land Rover reported a 40% year-on-year growth in India, delivering 6,183 vehicles in the last financial year. The Defender’s sales rose 90%, while the Range Rover and Range Rover Sport saw 72% and 42% increases, respectively.
The new India-UK FTA will reduce import tariffs on completely built-up (CBU) vehicles from over 100% to 10%. This will lead to reduced prices for luxury brands like Range Rover, Rolls Royce, and Aston Martin in India.
The FTA will also ease vehicle exports from India to the UK, benefitting Indian manufacturers like Mahindra and TVS. Additionally, Indian auto component manufacturers are set to gain from increased trade opportunities.