Tata eyeing Indian market for Jaguar, Land Rover
06 Jun 2008
Tata Motors, which completed the $2.3 billion dollar acquisition of Jaguar and Land Rover from Ford this week, is now exploring the possibility of marketing the two British models in India.
"Like Russia and China, JLR would be exploring the Indian market also. A team will be coming to India to study the market," Tata Motors managing director Ravi Kant said.
Jaguar and Land Rover, now owned by Tata Motors, face challenges from a slow global economic growth, especially in North America, and stiffer carbon emission norms.
The luxury British brands have, however, shown improved profitability, and new launches are expected to boost sales further.
Tata Motors expects to compensate the slowdown in North America and Europe with sales in new growth markets like Russia, China, the Middle East and elsewhere.
China, the world's fastest-growing auto market, is expected to be Land Rover's No 5 market this year, and Jaguar's seventh largest. Russia will likely be Land Rover's No 3 and Jaguar's No 8 market.
"We can't bank on too many numbers, but Mercedes and BMW are doing well," said Ravi Kant.
Daimler sold 2,491 Mercedes cars in India in 2007, nearly a fifth more than the previous year, while BMW aims to sell 2,000 cars in the fast-growing market this year.