JLR India slashes Range Rover SV prices ahead of India-UK FTA
Pricing has been lowered from Rs 2.75 crore to Rs 2.35 crore, significantly boosting its market positioning
JLR India has lowered the price of Range Rover SV and Range Rover Sport SV models imported from the UK by up to Rs 75 lakh in an anticipation of the India-UK free trade deal.
While the costs of locally produced and non-UK models stay the same, the change reflects anticipated duty benefits.
According to a statement from JLR India, the Range Rover SV and Range Rover Sport SV are the main models benefiting from the FTA.
It further stated, "The Range Rover SV has been repriced from Rs 4.25 crore to Rs 3.5 crore (starting price ex-showroom)" under the revised pricing.
Additionally, the company said the Range Rover Sport SV's pricing has been lowered from Rs 2.75 crore to Rs 2.35 crore, significantly boosting its market positioning. "The revised prices reflect the new duty structure enabled by the FTA and will be effective immediately," it stated.
Rajan Amba, Managing Director, JLR India, said the updated pricing of Range Rover SV and Range Rover Sport SV underscores the company's customer-first approach and commitment to building long-term relationships with our clients.
"We are confident that this FTA will allow more clients to experience the highly desirable and aspirational SV portfolio and further strengthen the JLR India growth story," he added.
Furthermore, the UK-India FTA will not affect the costs of locally produced vehicles, such as Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar and Discovery Sport.
Since Defender and Discovery are made in Slovakia, Europe, and are therefore exempt from the UK-India Free Trade Agreement, their current pricing structures will be maintained, the statement underlined.
In February this year, Tata Sons Chairman N Chandrasekaran had said JLR will manufacture 2.5 to 3 lakh vehicles annually at its new Tata Motors Passenger Vehicles and JLR integrated manufacturing facility in Ranipet, Tamil Nadu.
The facility marked a significant expansion for the Jaguar Land Rover brand, which currently conducts testing and manufacturing in the UK, Austria, China and Brazil.
With the opening of the Ranipet plant, India is officially added to the global industrial map for the luxury vehicle brand.
