India-UK FTA Deal: No Pricing Decision Taken Yet, Says JLR
JLR has reported a 15% decline in retail sales at 94,420 units in the first quarter of this financial year.
Jaguar Land Rover has not finalised any decision on pricing as of yet, the wholly owned subsidiary of Tata Motors Ltd. said in a statement on Thursday.
A spokesperson of the United Kingdom-based company shared its positive perspective on the deal and said they welcome the free trade agreement, "which over time will deliver reduced tariff access to the Indian car market for JLR's luxury vehicles".
"India is an important market for our British built products and represents significant future growth opportunities," the spokesperson added.
This is in the backdrop of the Free Trade Deal agreement that was signed between the United Kingdom and India on Thursday. UK-manufactured cars, which currently face import duties of over 100%, will now see duties reduced to 10% under a quota system.
JLR reported on Monday a 15% decline in retail sales at 94,420 units in the first quarter of this financial year. This largely reflects the planned wind-down of legacy Jaguar models1 ahead of the launch of new Jaguar, and a pause in shipments to the US during April 2025 following the introduction of US import tariffs.
The retail sales, including the Chery Jaguar Land Rover China joint venture, fell 13% in comparison to the previous quarter, according to an exchange filing on Monday. The wholesale sales were recorded at 87,286 for the quarter ended June 2025, reflecting a 11% decline compared to the first quarter of the previous financial year. It was down 22% compared to the last quarter.
Prime Minister Narendra Modi took to X to express gratitude to his UK counterpart, Keir Starmer. In the same thread he also added that labour-intensive sectors such as textiles, leather, and auto parts are "poised for strong growth".
