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JLR CEO Adrian Mardell retires amid backlash over Jaguar rebranding
'Adrian Mardell has expressed his desire to retire from JLR after three years as CEO and 35 years with the company,' a spokesperson said in a statement. 'His successor will be announced in due course.'
Mardell's departure marks the latest CEO change at a major automaker after new leaders for Renault SA, Stellantis NV and Volvo Car AB. The industry has been battered by a drop in sales in China, weak demand for electric vehicles in Europe, and more recently US President Donald Trump's trade onslaught.
JLR, owned by India's Tata Motors Ltd., was among a number of carmakers to withhold profit guidance at the height of the US tariff uncertainty. JLR, which makes the Range Rover and Land Rover SUVs, does not have any US factories.
A video last year teasing Jaguar's revamp as an electric-only brand received intense criticism. Jaguar isn't making any cars until the new lineup is ready.
During Mardell's tenure, JLR pushed ahead with a strategy of developing fully electric options for all its models by the end of the decade. It's gearing up for the first: the electric Range Rover.
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The Print
3 hours ago
- The Print
UK FTA means cheaper Rolls-Royce, Bentley. Though it matters little to India's auto market
So what do we know about these tariff reductions and what they mean for Indian industry? I will admit straightaway that I am not a tariff expert. But I do understand the automotive industry and how tariffs work in that space. Trump's outburst came just days after India signed a landmark Free Trade Agreement with the United Kingdom. The agreement will mean cheaper Scotch and cheaper Rolls-Royces as well. In fact, following the deal signed by Narendra Modi and Keir Starmer, it was this second point that dominated my social media timelines. The past couple of days have been a bit of a news whirlwind, and the 72-point-size headline screams: 'Tariffs'. After Donald Trump's latest tantrum against India — imposing a 25 percent tariff on Indian exports to the United States, with exceptions for items like smartphones, pharmaceuticals, and guar gum — and calling the Indian economy 'dead', I read a joke on X: that there should be a 75 percent tariff on everyone who claims to be a tariff expert. FTA brings down duties When I called up some car companies to find out, they all told me the same thing: 'Our tax lawyers and chartered accountants are still trying to make sense of it all.' At the same time, the import duty cuts come with quotas, and there are a couple of serious little snags. Chief among them: automotive manufacturing in the United Kingdom has almost died out. For example, cars with petrol engines larger than 3,000cc and diesel engines over 2,500cc will see duties drop significantly, from 110 percent to just 30 percent. But such high-capacity vehicles are made by very few companies these days, and their sales are extremely limited. Take Volkswagen-owned Bentley Motors, which sold just 64 cars in India in 2024, according to one report. And while Bentley is expanding in India and the number of Ultra High Net Worth Individuals (UHNWIs) is rising, even the most 'affordable' Bentley—the Bentayga SUV—costs Rs 5 crore. A 30 percent duty could bring that down by a crore or slightly more. So yes, you still have to be 'silly rich' to afford one. But what about Tata Motors–owned Jaguar Land Rover (JLR)? Well, here's the funny thing. Just last year, Tata started assembling the Range Rover in Pune using kits from Solihull, UK. And the Defender — the most popular show-off SUV for the rich and famous — is currently made at JLR's plant in Nitra, Slovakia. Even those vehicles might soon be assembled in Pune. As for Jaguar, they're not making any cars right now. When they restart, it will be as a luxury all-electric brand. So I don't foresee the massive 19,000-unit low-duty quota (in year five) for such large vehicles being filled anytime soon. There's another important factor being overlooked: India's push toward lower-capacity engines due to Corporate Average Fuel Efficiency (CAFE) norms. Larger engines are powerful and fun to drive, but they naturally consume more fuel. Personally, I believe India will shift towards 1.5-litre turbocharged petrol engines in strong and plug-in hybrids. There's also a duty cut for electric vehicles, but only for those priced above £40,000. Interestingly, there is also a duty cut on smaller-capacity engines. These vehicles previously attracted a 66 percent duty, which will now drop to 50 percent, and eventually to 10 percent by year five — again, with strict quotas. But given that very few manufacturers of small cars remain in the UK, this duty cut might only benefit Mini (owned by BMW) and Nissan. There's another catch: at least 35 percent of the vehicle's value must be produced in the UK. Chance for India to gain This rule also applies to high-end, large-engine vehicles — and this is where arcane bureaucracy kicks in. Take Rolls-Royce, for example. Much of its mechanical engineering is shared with top-end BMWs, since BMW owns the brand. Rolls-Royce, of course, handles the 'coachwork,' but how do you classify hand-stitched bespoke seats or hand-painted pinstripes? Thankfully, McLaren Automotive — a division of the Formula 1 team — is still a mostly British manufacturer. But they've sold only 50 supercars in India as of January 2025, since opening shop in 2022. Given how Indian excise authorities love taking carmakers to tax court, this will be debated intensely. Incidentally, the same issue applies to Mini, which shares mechanical components with the BMW 2 Series, made in Leipzig, Germany. Nissan might benefit the most, but they're not exactly setting the Indian market on fire right now. And because the duty cuts are gradual — with the full impact kicking in only by year five — a sensible buyer might just wait a couple of years before taking advantage. Here's what I clearly believe: because the UK is no longer an automotive manufacturing powerhouse, the impact of the FTA on India's automotive sector will be limited. In fact, it could benefit Indian automotive exports to the UK more — since they too will see duty reductions (starting year six of the deal) — than the UK's exports to India. While Tata Motors hasn't made any announcements, it's unlikely they'll abandon their Pune assembly plant. However, reduced duties might make special editions — like the souped-up SVR line — cheaper to import. Now, when the India–EU FTA is signed… that could be a different kettle of fish. Because the European Union is still an automotive manufacturing powerhouse. Kushan Mitra is an automotive journalist based in New Delhi. He tweets @kushanmitra. Views are personal. (Edited by Prashant)
Time of India
19 hours ago
- Time of India
Volvo cars takes a U-turn on EV-only plan for India mkt
Volvo Cars will continue to introduce both electric and internal combustion engine (ICE) vehicles in India, pivoting its earlier strategy of going all-electric amid slow customer adoption of battery electric vehicles (BEVs). The Swedish luxury carmaker had last year said it will henceforth sell only electric vehicles in India in its bid to have an all-electric portfolio by the turn of the decade. Volvo's strategy mirrors those of other global car makers like Jaguar Land Rover, and zzz who are revising plans to have an all-electric product range. Speaking to ET, Jyoti Malhotra, managing director at Volvo Cars India , said globally, too, while the company intends to go all electric, timelines have now been pushed beyond 2030. 'The adoption rate (of electric vehicles) is different in different countries. And even within the country (in India), it's different across states,' said Malhotra. He said government policies are crucial in deepening EV penetration in India, with states that have waived off road taxes seeing higher adoption rates among customers. 'We will continue to drive in electric cars and have a launch lined up later this year itself. But at the same time, we will continue to focus on ICE,' said Malhotra. EVs currently contribute about 25% of Volvo's sales in India. The market for such eco-friendly luxury cars is however still small though it is growing, according to the company. 'About a year back, EVs had started losing steam. We are seeing some uptick in the segment in the last six months. But customer needs are different across regions,' said Malhotra. 'Home charging is extremely important for customer comfort when it comes to owning EVs. In cities, where there are high-rises, charging electric cars is challenging,' he said, adding Volvo is seeing stronger EV adoption in states like Kerala, Maharashtra, and Delhi where there are low-rises and state policies are conducive. He was speaking on the sidelines of the launch of the XC60 SUV model. Globally, Volvo does have plug-in hybrids in its portfolio, but Malhotra said the company will only consider launching them in India if the tax structures are more conducive. India currently levies a Goods and Services Tax (GST) rate of 5% on EVs, and 43% on hybrids. Overall, Malhotra said luxury car sales in India , which had been outpacing the broader car market in the last few years, slowed in the first half of 2025 as volatile stock markets, and mounting geopolitical tensions hit demand among the country's rich, aspirational buyers. He however added that Volvo is on track to meet its sales target for this calendar year though industry growth is likely to be muted. Separately, Malhotra termed FTAs being inked or negotiated by the Indian government as a step in the right direction, which will help to grow the auto industry in the long run. 'The UK FTA has set a benchmark. While the one with the EU is still some time away, free trade agreements are good for the economy. India is seen as a market with growth potential. If any company were to invest in India today, they will only consider the scale available in the market here. With FTAs, the scale changes immediately as they open up access to many more markets globally,' he said, adding Volvo can also explore possibilities for expanding its footprint in India once the EU trade deal is finalised.
Time of India
a day ago
- Time of India
Volvo shifts gears, to offer both EVs & ICE models in India
Volvo Cars will continue to introduce both electric and internal combustion engine (ICE) vehicles in India, pivoting its earlier strategy of going all-electric amid slow customer adoption of battery electric vehicles (BEVs). The Swedish luxury carmaker had last year said it will henceforth sell only electric vehicles in India in its bid to have an all-electric portfolio by the turn of the decade. Volvo's strategy mirrors those of other global car makers like Jaguar Land Rover, and Mercedes Benz who are revising plans to have an all-electric product range. Speaking to ET, Jyoti Malhotra, managing director at Volvo Cars India said, globally too while the company intends to go all electric, timelines have now been pushed beyond 2030. 'The adoption rate (of electric vehicles) is different in different countries. And even within the country (in India), it's different across states,' said Malhotra. He said government policies are crucial in deepening EV penetration in India, with states that have waived off road taxes seeing higher adoption rates among customers. 'We will continue to drive in electric cars and have a launch lined up later this year itself. But at the same time, we will continue to focus on ICE,' said Malhotra. EVs currently contribute about 25 per cent of Volvo's sales in India. The market for such eco-friendly luxury cars is however still small though it is growing, according to the company. 'About a year back, EVs had started losing steam. We are seeing some uptick in the segment in the last six months. But customer needs are different across regions,' said Malhotra. 'Home charging is extremely important for customer comfort when it comes to owning EVs. In cities, where there are high-rises, charging electric cars is challenging,' he said, adding Volvo is seeing stronger EV adoption in states like Kerala, Maharashtra, and Delhi where there are low-rises and state policies are conducive. He was speaking on the sidelines of the launch of the XC60 SUV model. Globally, Volvo does have plug-in hybrids in its portfolio, but Malhotra said the company will only consider launching them in India if the tax structures are more conducive. India currently levies a Goods and Services Tax (GST) rate of 5 per cent on EVs, and 43 per cent on hybrids. Overall, Malhotra said luxury car sales in India, which had been outpacing the broader car market in the last few years, slowed in the first half of 2025 as volatile stock markets, and mounting geopolitical tensions hit demand among the country's rich, aspirational buyers. He however added that Volvo is on track to meet its sales target for this calendar year though industry growth is likely to be muted. Per industry estimates, around 22,900 luxury cars were sold in the first half of 2025, a 1.8 per cent rise from a year earlier. Separately, Malhotra termed free trade agreements being inked or negotiated by the Indian government as a step in the right direction, which will help to grow the auto industry in the long run. 'The UK FTA has set a benchmark. While the one with the EU is still some time away, free trade agreements are good for the economy. India is seen as a market with growth potential. If any company were to invest in India today, they will only consider the scale available in the market here. With FTAs, the scale changes immediately as they open up access to many more markets globally,' he said, adding Volvo can also explore possibilities for expanding its footprint in India once the EU trade deal is finalised.
