New Technology

Tata Motors owners of Jaguar and Land Rover (JLR) which it acquired for $2.3 billion last year, is launching the two premium British brands in the Indian market later this year. Tata Motors, through its newly formed premium car division, will import Jaguar's XF and XKR and Land Rover's Discovery and Range Rover into the country. The brands, to be initially available as completely built units (CBUs) from the UK, will be available at an exclusive showroom scheduled to open by June in Mumbai.

The company has not announced the price at which it will sell these brands in India, but Tata Motors chairman Ratan Tata had said at the company's annual general meeting last year that the JLR brands will be available at a "lower price". In the UK, the all-terrain (4x4) Land Rover sells in the range of 23,000-63,000 (Rs 17-46 lakh), while the sports luxury Jaguar sells at 21,000-82,000 (Rs 15-60 lakh). The cars will attract a customs duty of 110%, making them all the more expensive in India. Rohit Suri has been appointed as the head of the premium car division and is leading plans to develop a dealer network through 2009 and 2010, the company said.

Industry experts say that JLR will find it difficult to make a mark in the Indian luxury car market, which is expected to see a decline of 14% to just over 6,000 units in 2009. The segment in India comprises global brands including Mercedes-Benz, Volvo Cars, BMW and Audi.

According to JD Power, the luxury car market fell 21% in March, as slower economic growth and lower business profits kept buyers away. Except for the BMW 3 Series, other models posted lower sales in the month. Mercedes-Benz fell 27% in March, while BMW's sales dropped 20% year-on-year. By 2016, luxury car sales are forecast to be around just 12,000 units.

David Smith, chief executive officer, JLR said, "We are delighted to be formally entering the Indian market, an economy which is still growing appreciably, and able to offer our premium products to a whole new group of customers. It is an important strategic move for JLR and will enable us to realise our competitive potential in this significant market."

Ravi Kant, managing director, Tata Motors, said, "This is a natural move for both businesses and will allow JLR to establish a strong and deserved presence in India. We are very pleased to develop our relationship with JLR in this way and to provide the opportunity for Indian customers to access their premium products for the first time."

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