Jaguar Land Rover has just announced that the prices of select products will be increased by 4% in India starting 1st April 2019. While the Range Rover Evoque retails at Rs 52.06 lakh (ex-showroom), the prices will start from about Rs 54.14 lakh (ex-showroom). Similarly, Jaguar XE's current price tag of Rs 40.61 lakh (ex-showroom) will increase to about Rs 42.23 lakh (ex-showroom). The increased prices are based on a 4% hike, however, the manufacturer has not confirmed the same.
The Jaguar portfolio in India includes the XE, XF, XJ and F-PACE as locally manufactured products and the F-Type. The Land Rover portfolio consists of the Discovery Sport and Range Rover Evoque as locally manufactured products, along with the Range Rover Velar, Range Rover, Range Rover Sport and Discovery.
Jaguar Land Rover products are retailed from 27 outlets in 25 cities in India. JLR customers can also book a Jaguar or Land Rover by visiting the manufacturer's online booking platform as well.
“Jaguar Land Rover in India offers a portfolio of world-class products that inspire and excite. This increase in price is purely inflationary and we are certain that the two global iconic brands, Jaguar and Land Rover, will continue to attract existing and new customers,” Rohit Suri, President & Managing Director, Jaguar Land Rover India Ltd. (JLRIL) said.
In November 2018, Tata Motors-owned Jaguar Land Rover announced that it will be launching 16 new cars and SUVs globally between 2019-24. The entire Jaguar Land Rover lineup will undergo a change and the company plans to rejuvenate sales by building a strong product portfolio.
The company also launched Project Charge - a comprehensive 2-3 years turnaround plan to improve cash flows and profitability. Jaguar Land Rover says that the current biggest challenges for the company are lower consumer confidence and market sentiments with the industry being down by 7.7% this financial year.
Last week, Toyota Kirloskar Motor (TKM) had also announced that it would increase prices of some of its products from next month in order to offset rthe ise in input cost. TKM, however, did not disclose the quantum of hike and the models that would become costlier.