JLR sales up 16.23% at 4,596 units in 2018
New Delhi: Tata Motors-owned Jaguar Land Rover Tuesday reported 16.23 per cent increase in its sales in India at 4,596 units in 2018. The company had sold 3,954 units in 2017, Jaguar Land Rover India said in a statement.The sales achieved in 2018 was the highest calendar year volume to date for the company. These were driven by models such as Land Rover Discovery Sport, Range Rover Evoque, Jaguar F-PACE, XE and XF, it added. Commenting on the sales performance, Jaguar Land Rover India President and Managing Director Rohit Suri said, the auto industry faced strong headwinds in 2018, especially in the second half with tight liquidity conditions, increased upfront insurance costs and increased lending rates. “Despite that, the growth of Jaguar Land Rover in India has been very encouraging for us and we continue to focus on strong product launches and an ever-improving customer experience in 2019 for the two iconic brands, Jaguar and Land Rover,” he added. In 2018, the company had introduced over 10 new products, including the Range Rover Velar, Range Rover Evoque Convertible, Model Year 2018 Range Rover and Range Rover Sport and Jaguar F-PACE in 2-litre petrol.
TVS Motor Co calls for cut in GST rate on two-wheelers
New Delhi: TVS Motor Company Chairman Venu Srinivasan Tuesday joined the chorus calling for reduction in GST rate on two-wheelers, saying the mass mobility item should not be bench-marked against luxury goods. Last week, the chairman of the country's largest two-wheeler maker, Hero MotoCorp, Pawan Munjal had called for GST rate cut on bikes and scooters to 18 per cent from the current rate of 28 per cent. “Given the importance of the two–wheeler segment as an item for mass mobility, the GST rates for two-wheelers undoubtedly needs to be reconsidered,” Srinivasan said in a statement. He further said rising urbanisation, increasing purchasing power and the enhanced need for connectivity particularly in the mid-sized and smaller cities across India, has fuelled the two-wheeler revolution for personal mobility. “It (two-wheeler) certainly cannot be benchmarked against the prevalent GST rates for luxury goods at 28 per cent, especially given the current state of inconsistencies with the integrated multi-modal public transport systems across India,” he added. Srinivasan further said with new safety norms and BSVI integration also around the corner, both of which will increase two-wheeler prices, “it has become even more imperative to relook at the GST rates for two wheelers to ensure social inclusion that is sustainable in the longer run”. Last week, Munjal had stated that reduction in tax rate would not only help millions of two-wheeler customers, but also the entire value chain dependent on the sector. He stated that such a step was absolutely imperative to ensure growth in the auto sector to create and sustain inclusive economic growth. Bajaj Auto Managing Director Rajiv Bajaj also reportedly supported the demand for cut in GST on two-wheeler stating such a step would help mitigate increase in costs that would come with the implementation of new safety and emission norms.