Jaguar Land Rover (JLR), a subsidiary of Tata Motors, experienced an exceptional year in the Indian market during the financial year 2023-24. The luxury automobile brand reported a significant sales volume of 4,436 units from April 2023 to March 2024. This figure represents an impressive 81% increase in sales compared to the previous financial year. The brand's performance was particularly noteworthy in the last quarter of the financial year, with 854 units sold during this period.
Standout Models Driving Sales Growth
The success story of JLR in FY23-24 is highlighted by the outstanding performance of specific models. The new Land Rover Range Rover and the Land Rover Defender emerged as the stars of the year, with remarkable year-on-year retail sales growth of 160% and 120% respectively. Additionally, the Land Rover Discovery Sport experienced a robust 50% growth in demand, while the Range Rover Evoque, the smallest SUV in the luxury lineup, witnessed a commendable 55% increase in sales.
Land Rover's Strategic Launches and Updates in India
The financial year saw Land Rover strategically enhancing its portfolio in India with new launches and updates. In July 2023, the brand introduced the facelifted Velar, which was followed by the launch of V8 powered variants of the Range Rover Sport in December 2023. Furthermore, in the last quarter of the financial year, Land Rover updated the Discovery Sport and Evoque with subtle cosmetic changes and minor feature upgrades, ensuring that the models remained appealing to the Indian consumers.
Jaguar and Land Rover's Current Portfolio in India
Jaguar's presence in the Indian market is currently defined by three models: the F-Pace SUV, the I-Pace electric SUV, and the F-Type sports coupe. These models are attractively priced between Rs 72.90 lakh and Rs 1.56 crore, catering to different segments of the luxury car market. On the other hand, Land Rover offers a more extensive range of SUVs, including its esteemed Range Rover models. The Land Rover portfolio in India is priced between Rs 67.90 lakh and Rs 4.47 crore, offering a diverse range of options for luxury SUV enthusiasts.
Jaguar Land Rover's impressive sales results in FY23-24 underscore the brand's growing appeal in the Indian luxury automobile market. With a strategic focus on expanding its product lineup and enhancing existing models, JLR is well-positioned to continue its upward trajectory in the coming years.