JLR aims to double biz in India over next 3-4 years
Bullish on growth prospects,
Jaguar Land Rover
aims to double its business in India over the next 3-4 years amid plans to bolster its product portfolio and sales network, according to a top company executive. With the Indian luxury car market expected to grow consistently over the next few years, Jaguar Land Rover (
JLR
) India anticipates breaking into the top ten markets of its parent.
In an interaction with PTI here,
JLR India
Managing Director Rajan Amba stated that demand and appreciation for bespoke or differentiated car models remain very high in India promoting it to offer such products in the country.
He noted that JLR India has witnessed better growth rate than the rest of the domestic luxury car industry over the last few years and it retains momentum for sustainable growth going ahead.
"So clearly, there's a vacuum or a demand that we are kind of meeting and fulfilling and we have not even hit our peak running speed," Amba stated.
The automaker has a natural demand potential for excess of 8,000 units per year having already crossed the 6,000 annual sales mark in FY25, he said.
"And therefore, we expect that in the next 3-4 years, we should be able to double our business in the country both in terms of volumes and revenue," Amba said.
Jaguar Land Rover India
reported its best-ever performance in a fiscal with retail sales of 6,183 units in FY25, a growth of 40 per cent over FY24. Similarly, dispatches to dealers rose 39 per cent year-on-year to 6,266 units last fiscal.
Amba noted that the company would expand its product range as well as sales network to grow its business in the country.
"We plan to double our sales network to around 50 outlets by 2030," he stated while sharing that new dealerships would come up in places like Rajkot, Goa and Nagpur.
The JLR sales network is currently spread across 21 cities in India, through 25 authorised outlets. Amba said the automaker plans to invest more and more towards 'halo' models to make the brand more aspirational.
The British marquee brand also aims to introduce brand extensions of existing nameplates and encourage customers to go for more personalised touches on their units.
Amba said the future product action would focus both on
battery electric vehicles
and internal combustion engine models in the Indian market.
The company plans to drive in various models, including
Range Rover
BEV, in the country.
JLR India currently sells Range Rover, Range Rover Sport, Range Rover Velar, Range Rover Evoque, Defender, Discovery and Discovery Sport in the country.
Earlier this year, Range Rover announced the local manufacturing of Range Rover and Range Rover Sport, which has received an unprecedented response.
When asked about the growth prospects of the luxury car market in the country which currently remains miniscule in terms of the over 40 lakh per annum passenger vehicle segment, Amba said that the segment is expected to grow over the next few years.
"Certainly from a 4-5 year horizon perspective, we certainly believe that this 50,000 odd number (annual luxury car sales) is likely to double because of the sheer amount of wealth that is being created in India, with the entrepreneurship that is happening, and with more and more Make in India and localisation," Amba said.
"JLR India has been the beneficiary of the growth for the last two years, and we hope and expect that we'll continue to be the beneficiary of that," he added.
JLR FY25 revenue remained flat at 29 billion pounds. Its fourth-quarter revenue stood at 7.7 billion pounds, a dip of 1.7 per cent year on year.
The company said that in April 2025, it implemented a series of short-term actions to address the immediate impact of trade tariffs introduced by the US Administration on the global automotive sector.
JLR has lined up an investment spend of 18 billion pounds over a five-year period which would be funded by operational cash flows.
The automaker aims to develop individual growth strategies for its four brands: Jaguar, Range Rover, Discovery, and Defender, each catering to a specific audience and retail landscape.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
16 minutes ago
- The Hindu
CoinDCX hit by $44.2 mn security breach; founders say customer funds unaffected, safe
Indian cryptocurrency exchange CoinDCX has suffered a security breach, resulting in theft of $44.2 million, or ₹378 crore, even as the founders took to X to reassure that customer funds remained unaffected and safe, with the compromise limited to an internal operational account. The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday. According to the report, on July 19, at 4 a.m., CoinDCX security systems detected an incident involving unauthorised access to one of its accounts on the partner exchange, leading to a financial exposure of about $44 million. The incident once again puts the spotlight on mounting security threats in the highly volatile world of cryptocurrencies. Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than $230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments. CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to address the situation, confirming that the attack was the result of a sophisticated server breach, targeting an internal wallet, not the ones holding customer assets. The incident was first flagged by blockchain investigator ZachXBT, following which the exchange made the disclosure public. "Today, one of our internal operational accounts -- used only for liquidity provisioning on a partner exchange -- was compromised due to a sophisticated server breach. I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe. This won't cause any loss to our customers. CoinDCX will be bearing the full amount," Mr. Gupta said. "The total amount lost was USD 44Mn out of our treasury assets. Coindcx Treasury will be bearing these losses," Mr. Khandelwal wrote. Following this, users rushed to check their balances, leading to a spike in withdrawal requests. The sudden surge in activity led to CoinDCX's portfolio APIs, which display user balances and transaction histories, becoming jammed and unresponsive. For several hours, many were unable to even see their holdings on the app, adding fuel to rumours and anxiety online. The co-founders later updated that Portfolio APIs have been restored. Affected infrastructure has been completely isolated, and CoinDCX operations continue to run normally, the company said. CERT-In, or the Indian Computer Emergency Response Team, has been informed about the incident. Detailed forensics with two globally reputed security agencies is being carried out, and reports will be shared for public benefit, it added. "CoinDCX services remain fully operational. Trading activity, INR deposits and INR withdrawals continue. INR withdrawals below Rs 5 lakhs will reflect in your account within 5 hours, while withdrawals above Rs 5 lakhs will be processed within 72 hours. The incident was isolated and has no impact on your portfolio access or operations," the company stated. Social media is flooded with mixed reactions. While some praised CoinDCX for absorbing the losses and protecting user funds, others criticised the delay in public disclosure and raised concerns over the broader security of crypto platforms in India. "Coindcx silent for 17 hours? That's more suspense than a thriller! In crypto, transparency isn't optional; it's key. Stay open to keep trust alive!" a user wrote. "Good to see CoinDCX acting responsibly, assuring user funds are safe, and not passing losses onto customers. Sets a positive precedent for Indian crypto exchanges," another said.
Deccan Herald
an hour ago
- Deccan Herald
EU's new sanctions on Russia to hit India's petroleum exports
Indian refiners purchased Russian crude at discounted rates. A substantial part of the refined products like diesel, petrol and aviation turbine fuel (ATF) were exported to European countries.
Time of India
2 hours ago
- Time of India
Jio-Allianz, Fairfax-backed Valueattics Re set to shake up India's Rs 50,000-cr reinsurance market
India's reinsurance sector is set for disruption as Jio-Allianz and Valueattics Re-a JV between Fairfax's Prem Watsa and Kamesh Goyal 's Oben Ventures-enter the market, challenging the dominance of state-run GIC Re in the country's ₹50,000-crore reinsurance business. GIC Re currently has a 51% market share, while the rest is distributed among 11 foreign reinsurance branches. On Friday, Jio Financial Services (JFSL) and Allianz Group (Allianz), through its wholly owned subsidiary Allianz Europe BV, announced they have entered into a binding agreement to form a 50:50 domestic reinsurance joint venture in the insurance market in India. Explore courses from Top Institutes in Select a Course Category Operations Management Technology Product Management Degree CXO healthcare Digital Marketing MBA Design Thinking Data Analytics Project Management Leadership Healthcare PGDM Data Science Public Policy others Data Science Artificial Intelligence Others Finance Cybersecurity Management Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details The two companies also entered into a non-binding agreement for setting up equally owned joint ventures for both general and life insurance businesses in India. ET Bureau Regulatory norms such as mandatory cession and order of preference could benefit the new entrants, giving them an edge over other reinsurers. Regulations mandate Indian insurers to cede 4% of each policy to GIC Re. This would be Allianz's third reinsurance entity after its existing branches under the Foreign Reinsurer Branch (FRB) and International Financial Services Centre Insurance Office (IIO) regimes. This proposed company would be an India-incorporated entity with a paid-up capital of a minimum ₹200 crore. While the other two reinsurance entities are focused on speciality reinsurance and certain lines of risks, the third entity, which will be an Indian reinsurer would have a standalone balance sheet and the flexibility to do treaty and facultative reinsurance. GIC Re, the national reinsurer, has long been the anchor of the domestic reinsurance market. In 2023-24, a total reinsurance premium of ₹62,113 crore was collected by Indian reinsurer GIC Re and foreign reinsurance branches (FRBs). About 81% of this business came from within India, which is ₹50,553 crore. Of this Indian business, GIC Re handled around 51%, while the remaining 49% was done by the foreign reinsurance branches including global reinsurers like Lloyd's. Reinsurers operating from within India, like Jio-Allianz and Valueattics Re could get preferential access over cross-border reinsurers in the order of preference mandated by IRDAI. As per IRDAI guidelines, every Indian general insurer must cede 4% of their sum insured on each policy to GIC Re- the Indian reinsurer under compulsory cession rules. While GIC enjoys 4% mandatory cession, this is subject to annual review. Also, reinsurers operating from within India, like Jio-Allianz and Valueattics Re, could enjoy preferential access over cross-border reinsurers in the order of preference mandated by IRDAI. The entry of Jio-Allianz could bring the scale, digital reach, and capital heft of Reliance Industries, while Valueattics Re, headed by Canadian-Indian billionaire Prem Watsa, entered the Indian reinsurance market in March this year and is expected to tap into Fairfax's global expertise and balance sheet strength, further accelerating competition in the domestic landscape.
