Last Updated:
JLR New Price: The effect of the free trade agreement between India and Britain is beginning to be visible. The price of Jaguar Range Rover car made in Britain has been reduced by Rs 75 lakh in India. The company has said that the prices of its two models have been reduced the most.
Jaguar Land Rover prices have been reduced by Rs 75 lakh.
New Delhi. When India and Britain signed the Free Trade Agreement (FTA) recently, it was decided that movement of products between the two countries would now become cheaper. Its result has also come to light. The price of Jaguar Range Rover, a luxury car coming from Britain, has now become cheaper in India by not just Rs 2 lakh, but by Rs 75 lakh. This car is completely manufactured in Britain and imported into India. Now this car can be brought at a cheaper price.
The Indian unit of luxury vehicle manufacturing company Jaguar Land Rover (JLR) said that in view of the possibility of implementation of the India-UK Free Trade Agreement (FTA), it has announced a reduction of up to Rs 75 lakh in the prices of Range Rover models manufactured in Britain. JLR India said the main beneficiaries of the price cut for vehicles coming to India as fully built units will be the Range Rover SV and Range Rover Sport SV models.
Now what will be the price of both the cars?
After this deduction, the starting showroom price of Range Rover SV model has reduced from Rs 4.25 crore to Rs 3.5 crore. Apart from this, the price of Range Rover Sport SV model has been reduced from Rs 2.75 crore to Rs 2.35 crore. The Tata Group-controlled company said that the revised prices reflect the new duty structure under the FTA and will be applicable with immediate effect.
Company expects sales to increase
JLR India Managing Director Rajan Amba said that amidst the expectation of implementation of India-UK FTA, we are committed to providing its benefits to our customers. The new prices reflect our approach of putting the customer first and commitment to building long-term relationships. However, the company clarified that this FTA will have no impact on the prices of locally manufactured models in India such as Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar and Discovery Sport.
The prices of these models will not decrease
The company has said that some of its models are not made in Britain. Therefore, the rules of India-UK Free Trade Agreement will not be applicable on them and their prices will remain at the old level in the Indian market. The company said that the prices of its models like Defender and Discovery will remain at their old level. Both these models are produced in Slovakia, due to which they will remain out of the scope of FTA.
About the Author
Pramod Kumar Tiwari likes to cover stock market, investment tips, tax and personal finance. Explains complex topics very easily. He has also written dozens of columns on personal finance in newspapers. Journalism…read more