India-UK Free Trade Agreement: Only goods manufactured in India or Britain will be exempt from taxes under the FTA. Let’s find out if Defender is on this list in such a case.
India-UK Free Trade Agreement: India and the United Kingdom have inked a Free Trade Agreement (FTA). As a result, the 100–125% import tax on luxury cars made in the UK has been lowered to just 10%. Will pricey SUVs like the Defender be half as expensive in such a scenario? Let’s see if this is indeed going to happen in plain English.
The Land Rover Defender is not made in Britain; rather, it is made in Slovakia, a European nation. Only goods made in India or Britain will be exempt from taxes under the India-UK Free Trade Agreement. This offer does not cover Defender, and there will be no tax deduction.
When will the price of the Land Rover Defender drop?
Richard Molyneux, the CFO for Jaguar Land Rover, stated that the business intends to begin domestic Defender assembly in India. Under such circumstances, the SUV’s price can be lowered by up to 20% if it is built in India. Land Rover’s pricing would drop from Rs 1.05 crore to Rs 85 lakh.
Defender rises to the top of the luxury SUV sales charts.
In India, the Land Rover Defender is now the top-selling luxury SUV. To date, over 5,000 units have been sold. Its demand is anticipated to rise much more once local production gets underway, particularly from buyers hoping to purchase this high-end SUV at a lower cost.
In its class, the Defender has already established itself as a standard SUV. It may directly compete with numerous other SUVs, like the Hyundai Tucson, Fortuner Legender, and Jeep Meridian, if its starting price is Rs 80 lakh. This has the potential to significantly alter the Indian luxury SUV market.
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