StocksMarket.in

No India vehicles among 44,000 cars recalled by JLR in UK

March 15
12:56 2019

None of the Jaguar and Land Rover (JLR) models running on Indian roads are part of the 44,000 units recalled by the two Tata Motors-owned British luxury brands.

A JLR India spokesperson clarified that none of the models sold in India will be affected by the recall announced by the two brands in the UK on March 13. Some of the recalled models need physical repairs and others need a software update.

Following announcement of the recall, shares of Tata Motors declined by two percent on the BSE before closing the day with a fall of one percent as compared to its close on March 13.

More than 44,000 units of Land Rover Discover, Discovery Sport, Range Rover Sport, Velar and Evoque and Jaguar models such as E-Pace, F-Pace, F-Type, XE and XF made between 2016 and 2019 have been recalled. These models have a mix of petrol and diesel engines.

Regulators in the UK found these cars to have been emitting more carbon-dioxide than earlier thought, forcing Britain’s largest carmaker to announce the recall and carry out repairs free of cost.

All the above mentioned Jaguars and Land Rover models are also sold in India with the exception of the E-Pace. The two brands are the fourth largest luxury automotive brands in India.

Last year JLR India clocked a growth of 16 percent during 2018 to 4,596 units. In comparison the market leader Mercedes-Benz which sold three times more the volumes clocked a growth of 1 percent during the same year. JLR India presently has a market share of 11 percent as at the end of last year.

The luxury car market in India has witnessed a significant contraction in demand during 2018 owing to multiple reasons. Jump in insurance costs, crunch in liquidity, poor buyer sentiments, rise in customs duty and hike in prices by carmakers impacted volumes.

Related Articles

Archives