Jaguar Land Rover (JLR) India has reduced prices of its top-end Range Rover SV models, ahead of the proposed India-UK Free Trade Agreement (FTA). The move is aimed at passing on expected duty benefits to buyers, as reported by Informist.
The biggest drop is in the Range Rover SV, which now starts at Rs 3.50 crore (ex-showroom), down from Rs 4.25 crore. The Range Rover Sport SV has also become cheaper, now priced at Rs 2.35 crore compared to Rs 2.75 crore earlier. These models are imported from the UK as completely built units (CBUs). The revised prices are effective immediately.
JLR said the decision comes as it expects lower import duties under the upcoming trade deal between India and the UK. Along with the price cut, JLR has also added more value to the Range Rover SV. It will now come with SV Ultra Metallic paint options in both gloss and satin finishes as standard.
The company clarified that this change applies only to select imported models. Prices of locally made vehicles like Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar and Discovery Sport will remain the same. The Defender and Discovery will also not see any change, as they are made in Slovakia and are not covered under the India-UK deal.
At present, imported luxury cars in India attract very high taxes, sometimes up to 110%. Under the proposed FTA, these duties could drop to 30% in the first year and further to 10% over five years. This is expected to make high-end imported cars more affordable in the future.
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