Britain’s biggest automobile manufacturer Jaguar Land Rover (JLR) which is owned by Tata is setting its focus on the luxury segment in India.
From the time of launch in India in the year 2009, JLR has never focused on the sub-50 lakh range cars or vehicles. But now, there seems to be a strategic change in the company’s policy to boost up sales in India.
In the Initial stages, the JLR introduced SUV named Freelander which is priced below Rs.50 lakhs. Till 2015 the company did not bother to introduce any of the below Rs.50 lakh range cars in India.
Range Rover Evoque and the Discovery Sport are introduced in the SUV segment with the diesel versions. The recent Delhi Diesel ban has forced the company to launch a petrol version for the Discovery Sport model.
Last month JLR India has launched a Sedan car, Jaguar XE with the price tag below Rs.40 lakhs. The company holds a 10% annual growth rate in this segment. The competitors like Mercedes C-Class and BMW’s 3-Series have a good market share in the Indian automobile market. In spite of that, Jaguar has sold nearly 35,000 units in the year 2015.
Also, Read : JLR Discovery Sport Launched In India
Interestingly, the company is removing the employees globally due to the recent Brexit issue which forced the GreatBritainn to quitEuropeana Union. Already, the losses have amounted upto 1 Billion (almost Rs.10,000 crores) from the past decade.
Now the step to increase the Luxury segment cars sales is to kerb the losses incurred. The company aims to capture 18% growth rate in the coming financial year. Therefore, the company is introducing the new models in the luxury car segment with the price tag under the Rs.50 lakhs.
Last month, in June, the company has set up a factory in Brazil. JLR also aims to increase the sales in China. The manufacturing plant in India has helped the company to reduce the car prices that are sold in India.