Jaguars and Land Rovers, now available in India
Tata Motors Ltd. has officially brought the Jaguar and Land Rover brand names to India. The Indian-based auto maker offers three models from Jaguar, the XF, XFR as well as the XK, with prices set between 6.3 million rupees ($130,977) and 9 million rupees.
Indians can now purchase three Land Rover models, including the Land Rover Discovery 3, Range Rover and the Range Rover Sport. All three models can also be purchased starting from 6.3 million rupees, but it will go beyond the 9 million rupees range.
Although the luxury car segment in India is made up of less than 1% of the total market, Tata is still confident with the available opportunity. “This is in keeping with our desire to extend the penetration of the brands in India,” said chairman Ratan Tata.
Jaguar Land Rover’s chief executive David Smith revealed that, “The luxury car market in India is very small, but there is a huge opportunity there. It is growing fast and we expect it to grow fast over the next 5 to 10 years.” Last Friday, Tata reported its first loss in eight years, thanks to a negative US$ 520 million figure for the year to March 2009, while Jaguar Land Rover is down US$ 504 million in the 10 months of the fiscal year to March 2009.
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