Tata Motors, which has strong brand presence in passenger as well as commercial vehicles segments in India, is now aggressively pushing its Jaguar Land Rover (JLR) model here, heating up competition for luxury vehicle market players like BMW, Daimler and Audi.
“Tata Motors’ has a strong brand in India, including in passenger and commercial vehicles segments, and this will help the auto giant to take Jaguar Land Rover forward,” PwC India Leader (Automotive Practice) Mr Abdul Majeed told PTI.
“Assembling the British marquee in India will give an advantage to Tata Motors to compete with other luxury rivals like BMW, Daimler and Audi. Jaguar Land Rover will have more demand in the market compared to other brands,” Mr Majeed said.
The company’s models will now compete with SUVs XC 60 from Volvo India, Audi Q5 from Volkswagen AG and BMW’s X3, he said.
Tata Motors, which acquired Ford’s British marquees Jaguar and Land Rover for $2.30 billion in 2008, has announced a five-year ambitious plan to tap the growing luxury market in Asia’s third largest economy.
“India is rapidly growing, along with China, in luxury segment and we want to tap the opportunity. We will produce 40 new products, including new models and engines, over the next five years to compete with our rivals,” JLR Chief Executive Officer Mr Ralf Speth said.