Jaguar Land Rover (JLR) has broken the spell of no launches in India. The Indian-owned British carmaker unveiled the New Jaguar XE after providing a facelift and better on-board technology to the earlier version. It is JLR’s only launch this year as the slowdown has persisted, not sparing the luxury car segment. The car now comes with variants fitted with BS VI engines ahead of the transition on April 1, 2020, to new emission norms. Jaguar Land Rover India president & managing director Rohit Suri said despite de-growth in the industry, JLR’s market share has increased to 16% over April to October this year in the luxury car segment. The New Jaguar XE priced at Rs 44.98 lakh competes with BMW 3 Series, Mercedes-Benz C-Class and Audi A4. This is now JLR’s cheapest offering in the Indian market. The price has risen by over Rs 3 lakh compared to the older model and comes at a time when peers such as Mercedes-Benz have signalled price hikes January 2020 onwards.
Several sport utility vehicles makers in India have begun to gradually transition to new emission norms, given the higher cost of making a BS VI-compliant diesel vehicle. While some automakers are now opting to fit the diesel-powered SUVs with petrol engine, JLR had launched the petrol version of Range Rover Sport SUV at the beginning of 2019. “It has received a strong response,” said Suri. Even as the auto industry is raising concerns over the lack of charging stations for electric vehicles (EVs) in India, JLR is planning to launch its all-electric sports car Jaguar I-PACE in 2020. The launch of Jaguar I-PACE may have to come with the assurance of EV infrastructure support as MG Motor’s ZS EV and Hyundai’s Kona buyers have been promised.
JLR’s performance had suffered over the past two years due to weak global economic condition, US-China tariff war and Brexit uncertainty. However, JLR has turned around its performance in China with the fourth consecutive month of double-digit sales growth in October. JLR’s inventory in China has slipped to the lowest levels since 2017. In addition, the automaker has reported its best November in the US with sales rising 6% year-on-year to 12,472 units. Analysts at Motilal Oswal Institutional Equities said the benefits of capital expenditure reduction and cost control have started to reflect now.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.