Skip to content
Search

Latest Stories

JLR plans to consolidate position in India

JAGUAR LAND ROVER has plans to consolidate position in the domestic luxury vehicle segment in India, a top company executive has said.

The company will initiate ten product-related actions in 2021-22, including new generation model launches and introduction of updated versions.


Tata Group owned JLR has recently introduced its fully electric SUV I-PACE in the domestic market.

"We are looking to further fortify our position in the market with ten strong product actions planned in FY 2021-22, including new generation products, facelifts, new body styles, plug-in-hybrids and new power-trains," JLR India president and managing director Rohit Suri told PTI.

Overall, the company believes that there is a huge headroom for growth in the luxury car segment in India, he said.

"As the Indian economy continues to flourish, the number of Indian HNI''s will also grow and that will fuel demand for luxury cars organically," Suri said.

"In line with the growth in the economy, we expect the luxury car market to witness a strong double digit growth and we will strive to grow faster in FY 2021-22."

He added that the company aims to grow faster than the luxury car market in the domestic market in the current fiscal.

On I-Pace, he said that with the model the company wants to focus on providing customers with a seamless and worry-free EV ownership experience, while watching developments in the EV market very closely, including customers' 'likes and dislikes'.

In February this year, JLR announced plans to become a net-zero carbon business by 2039 for which its Jaguar brand will become an all-electric luxury vehicle marque from 2025.

As per its new 'Reimagine'' global strategy, all Jaguar and Land Rover nameplates will be available in pure electric form by end of the decade, and the first all-electric Land Rover SUV model will be launched in 2024 and the brand will have six pure electric variants in the next five years, the company said.

More For You

JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less