Ahead of the India-UK FTA, JLR India on Tuesday (May 5) announced that it is repricing Range Rover CBU models that are imported from the United Kingdom. According to the report released by JLR India, the key models that are benefitting from the Free Trade Agreement (FTA) are the Range Rover SV and Range Rover Sport SV.
As part of this announcement, the Range Rover SV has been cut down price from Rs 4.25 crore to Rs 3.50 crore. The Range Rover SV value proposition is significantly elevated with the addition of SV Ultra Metallic paints in Gloss and Satin finishes, now offered as standard for the first time.
New duty structure
Also, the Range Rover Sport SV will also see a significant discount from Rs 2.75 crore to Rs 2.35 crore, significantly strengthening its market positioning. The revised prices show the new duty structure enabled by the FTA and will be effective immediately.
In a press release, Rajan Amba, the Managing Director of JLR India, said “In anticipation of the India-UK FTA being implemented, we are pleased to extend its benefits to our clients.”
He further said that the updated pricing of the Range Rover SV and Range Rover Sport SV highlighted the company’s customer-first approach and commitment to building long-term relationships with clients.
“We’re confident that this FTA will allow more clients to experience the highly desirable and aspirational SV portfolio, and further strengthen the JLR India growth story,” he further said.
Locally manufactured models not impacted by UK-India FTA
According to the press release, prices of locally manufactured models, including Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar and Discovery Sport, will not be impacted by the UK-India FTA.
It also said that Defender and Discovery will maintain their current pricing structures as they are manufactured in Slovakia, Europe and hence do not fall under the purview of the UK-India FTA.