Jaguar Land Rover Plans to Assemble Jaguar & Range Rover Evoque in India
Posted on October 19th 2011Welcome back!
Encouraged by the success of Jaguar Land Rover in India, Tata Motors is now planning to assemble two more models of the luxury car in India. It hopes that this will boost sales in the domestic market of luxury cars.
The Jaguar Land Rover (JLR) is all set to assemble Jaguar XF sedan and Range Rover Evoque SUV. This stagey aims at making Jaguar make its presence felt in the fast growing market of domestic luxury cars. Currently, the auto giants in the market of luxury cars include brand names like Mercedes, BMW and Audi.
The SUV Freelander 2 of the company is currently assembled at its factory that is located in Chikhale in Maharashtra. The other models are completely assembled abroad, which are not at all cost effective as they have to pay a 100% import duty. On the other hand the duty imposed on the assembled cars is somewhere 10% to 30%.
Jaguar Land Rover had a meeting with the vendors in Pune last week. About 30 vendors were from UK and 20 main vendors were from India. The company’s head Mark Wallace and three other vendors were also invited for this meeting. Ian Harnett, JLR’s director-purchasing said that by assembling parts in the country, the company plans to occupy a minimum 20% of the market share in another three years.
A supplier, on condition of anonymity informed that Jaguar Land Rover “feels India and China will be the key growth drivers in the next five-10 years. Therefore, the company envisages a bigger assembly operation in India and joint venture partner in China to boost its overall growth.”
Experts predict that Jaguar XF is expected to take over Mercedes Benz E Class, Audi A6 AND BMW 5 Series. They also believe that Range Rover Evoque will be competently priced and might give stiff competition to BMW X1. The demand for the luxury cars in the country is expected to rise by about 40%, this will make India one of the fastest growing markets in the world.
Peter Honegg, the chief executive of Mercedes Benz accepted that in the long run JLR might become their biggest rival in the long run. Mahantesh Sabarad, an auto analyst working at Fortune Broking observes that in order to become a competitor of BMW, JLR will have to sell at least 3,000 units. He says that “With the assembly of models in India, the pricing will come down and it will boost volumes. And larger the volumes, the better the profitability,” he said.
The double 2.2 litre engines of Evoque are quite suitable for Indian conditions. However, the company will face a lot of competition from its rivals.
By editor in Auto India News, Auto Industry News, Jaguar Land Rover, Land Rover
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