logo
Billionaire Motilal Oswal Ditches Foreign Car Brand Over Tata Safari Dark Edition, Here's Why

Billionaire Motilal Oswal Ditches Foreign Car Brand Over Tata Safari Dark Edition, Here's Why

News1830-06-2025
Last Updated:
In the photo, it can be seen that the Oswal went for the black paint scheme, and it looks like a range-topping model.
A popular name in the financial services sector, Motilal Oswal, the owner of Motilal Oswal Financial Services Limited (MSOL), is best known for his business mind and super dreamy garage. The billionaire who could take any car in the world chooses the Tata Harrier Black Edition.
The move left a lot of internet users wondering why he added Harrier to his super-expensive garage over any foreign brand. He answered the question through a post on X, formerly known as Twitter.
Take a look at post here
In my pursuit of minimalistic and simple living, I have turned Desi now. Stopped buying foreign cars, watches and other luxuries. World class Indian products are available now. Started with my Tata Safari, next would be Mahindra. #Vocal for local @RNTata2000 @TataMotors … pic.twitter.com/JXmstnCDxN — Motilal Oswal (@MrMotilalOswal) January 29, 2024
While sharing the photo of his newly purchased Harrier, he wrote, " In my pursuit of minimalistic and simple living, I have turned Desi now. Stopped buying foreign cars, watches and other luxuries. World-class Indian products are available now. Started with my Tata Safari, next would be Mahindra."
Price Range
In the photo, it can be seen that the Oswal went for the black paint scheme, and it looks like a range-topping model. It starts at Rs 15 lakh, while the top model goes up to Rs 26.50 Lakh (all ex-showroom). The on-road price varies by trim and can fall between Rs 18.07 lakh to Rs 31.38 lakh.
It comes with a robust 2.0-litre Kryotec turbocharged diesel engine that generates a maximum power of 170 PS at 3750 rpm and 350 Nm of peak torque between 1750-2500 rpm. The unit is paired with 6-speed manual and 6-speed automatic (torque converter) transmissions.
First Published:
June 30, 2025, 10:26 IST
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India-UK trade deal: How will it benefit luxury car buyers in India? Explained in detail
India-UK trade deal: How will it benefit luxury car buyers in India? Explained in detail

Hindustan Times

time3 minutes ago

  • Hindustan Times

India-UK trade deal: How will it benefit luxury car buyers in India? Explained in detail

The Indian government has signed a comprehensive Free Trade Agreement (FTA) with the United Kingdom, which is being considered as one of the landmark trade deals between the two major global economies. When it comes to the auto industry, the India-UK FTA is expected to boost the luxury car market in India, as the deal will reduce the import costs on CBU (Completely Built Unit) luxury cars and electric vehicles that are manufactured in the UK. The FTA introduced a detailed Tariff Rate Quota (TRQ) system, which allows for a progressive quota-based customs duty reduction system, which will be effective over a span of 15 years. This could significantly lower the prices of luxury cars made in the UK, including Rolls-Royce, Bentley, Jaguar, Land Rover, Aston Martin, and McLaren, for Indian buyers. While the luxury car market in India is currently dominated by German auto majors like Mercedes-Benz, Audi, and BMW, the market share of the British brands may increase in the country owing to the benefits arising from the FTA. Also check these Cars Find more Cars Aston Martin DB11 5198 cc 5198 cc Petrol Petrol ₹ 3.29 Cr Compare View Offers Bentley Bentayga 3996 cc 3996 cc Petrol Petrol ₹ 4.10 Cr Compare View Offers UPCOMING Jaguar Epace 1999 cc 1999 cc Diesel Diesel ₹ 50 - 60 Lakhs Alert Me When Launched Land Rover Discovery Sport 1997 cc 1997 cc Multiple Multiple ₹ 67.90 Lakhs Compare View Offers Lamborghini Huracan Evo Spyder 5204 cc 5204 cc Petrol Petrol ₹ 3.54 Cr Compare View Offers Lotus Emira 1998 cc 1998 cc Petrol Petrol ₹ 3.22 Cr Compare View Offers India-UK FTA to further propel India's luxury car sales growth The luxury car market in India, despite still holding a minuscule market share in the overall industry pie, is witnessing fast growth. In FY25, while the rising food inflation and falling wages prompted the urban consumers to hold back their car purchase plans, the wealthy class continued their luxury car shopping spree. This resulted in the luxury cars registering strong demand throughout the last fiscal, while the mass-market segment recorded muted sales. The luxury car manufacturers sold 51,406 units in FY25, marking a three per cent year-on-year (YoY) growth compared to 49,862 units in FY24, and setting a record for the highest sales in any financial year. This growth came even as the Indian economy struggled. Mercedes-Benz led the market with 18,928 units sold, marking its best-ever fiscal performance. BMW, on the other hand, secured the second position with 15,810 units sold, recording a five per cent rise from 14,562 units sold in FY24. Jaguar Land Rover (JLR) experienced a 40 per cent YoY growth, selling 6,183 units in the last financial year. Among others, Lexus, the luxury vehicle brand of Japanese automaker Toyota, reported a 19 per cent YoY growth in FY25. While this growth momentum is expected to continue in this financial year, the recently signed India-UK FTA is expected to further fuel this story. Speaking about this, Arun Surendra, Chairman and Group Managing Director at VST Group, a multi-brand luxury car seller, said that the luxury segment is still a small part of India's overall car market, around one to two per cent, but it's growing faster than the mass segment. 'What's interesting is how wide the base is getting. It's no longer just metros. We are seeing solid traction from Tier-2 cities, especially in the SUV and EV space. The aspiration is real, and it's backed by buying power," he said, while also adding, 'There's a clear rise in affluence, especially in South India. We are seeing more HNIs (High Net-Worth Individuals) choosing cars that reflect their lifestyle and values. It's not just about performance anymore. Design, technology, and brand experience are equally important." India-UK FTA: How ICE cars will benefit Under the India-UK FTA, internal combustion engine (ICE) powered cars are classified in three segments for duty relief. These are - entry-level vehicles under 1500 cc, mid-segment vehicles between 1500 cc and 3000 cc for petrol or up to 2500 cc for diesel and vehicles with engines larger than 3000 cc for petrol and 2500 cc for diesel. In the first year of FTA, cars in the mid and lower engine segments, which faced a pre-FTA base duty of 66 per cent, will be taxed at 50 per cent in the first year and 10 per cent by the fifth year. Cars in the highest engine capacity segment that attracted a base customs duty of 110 per cent in the pre-FTA regime will see the in-quota duty drop to 30 per cent. By the fifth year, this customs duty rate will come down further to just 10 per cent. There is a clear volume cap for each year under this FTA that will ensure the concessional tariffs apply to a fixed number of cars. In the first year, a total of 20,000 ICE cars from the UK will be allowed into India at discounted rates. This will comprise 5,000 each in the entry-level and mid-level segments, and 10,000 high-end models. These numbers will gradually increase, peaking at 37,000 units in the fifth year, before slowly tapering to 15,000 units annually from the 15th year onward. Any car imports beyond these volumes will still attract reduced out-of-quota tariffs compared to the pre-FTA base rates, but the benefits will be less pronounced. The out-of-quota duties on low-engine and mid-engine cars will stabilise at around 45 per cent and 55 per cent, respectively, by the 10th year. The out-of-quota duties on large-engine cars will reduce from 95 per cent in the first year to 50 per cent by the 10th year. India-UK FTA: How EVs, hybrids and hydrogen cars will benefit Under the India-UK FTA, electric cars, hybrids, and hydrogen fuel-cell cars are also included, under a separate TRQ (Tariff Rate Quota) structure. However, only cars with a CIF (Cost, Insurance, and Freight) value above 40,000 pounds will receive preferential treatment. Electric cars priced below 40,000 pounds are excluded entirely from any customs duty relief. For cars priced between 40,000 pounds and 80,000 pounds, the duty will drop sharply from the base 110 per cent to 50 per cent in the sixth year of implementation, and further to 10 per cent by the 10th year. The high-end electric cars priced above 80,000 pounds will benefit even more, with the duty reduced to 40 per cent in the sixth year and then to 10 per cent by the tenth year. Starting from the sixth year, 4,400 electric and hybrid cars will be allowed annually at the reduced rates. The quota expands over time, reaching 13,200 units by the 10th year and stabilising at 22,000 units annually from the 15th year. Interestingly, unlike the ICE models, there is no preferential duty on electric cars imported beyond the quota. This means high duties will apply to surplus shipments. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date:

Mahindra BE 6, XEV 9e Pack Two Deliveries Begin, Check Details
Mahindra BE 6, XEV 9e Pack Two Deliveries Begin, Check Details

NDTV

time4 minutes ago

  • NDTV

Mahindra BE 6, XEV 9e Pack Two Deliveries Begin, Check Details

Mahindra is actively expanding its product lineup for the Indian market, aligning with its strategy behind the recent launch of mid-spec Pack Two variants for the BE6 and XEV 9e electric SUVs. These new variants, equipped with the larger B79 battery pack, promise enhanced driving range, with claims of over 500 km on a single charge. Now, customers can choose from the 59 kWh and 79 kWh battery packs, depending on their specific utility needs. The brand has now started the delivery procedure of the Mahindra Be6 and XEV 9e Pack Two B79 variants across India. The Mahindra BE 6 Pack Two B79 is powered by a 79 kWh battery pack and is capable of producing a peak power and torque output of 281 hp and 380 Nm. In comparison, the smaller 59 kWh battery yields 227 hp of power. Also, the larger battery pack option has given it a range boost as it can now run up to 683 km on a single charge. Meanwhile, the 59 kWh battery variant is set to provide a range of just 557 km. Mahindra BE 6 Talking about the Mahindra XEV 9e, the power and torque figures of the pack two remain unchained from the BE6. However, the XEV 9e's B79 variant claims a range of 656 km on a single charge. Meanwhile, its smaller battery, a 59 kWh battery variant, promises 542 km on a single charge. Mahindra XEV 9e The Mahindra BE 6 Pack Two B79 is available at a price tag of Rs 24.25 lakh (ex-showroom). Meanwhile, the Mahindra XEV 9e Pack Two B79 is tagged at Rs 27.29 lakh (ex-showroom). However, customers can also opt for the smaller Pack Two B59 variant as well, available at Rs 22.65 lakh (ex-showroom) for the BE 6 and Rs 25.65 lakh (ex-showroom) for the XEV 9e.

India opens new consular application centre in Dallas to serve growing diaspora
India opens new consular application centre in Dallas to serve growing diaspora

Economic Times

time4 minutes ago

  • Economic Times

India opens new consular application centre in Dallas to serve growing diaspora

Agencies The Consulate General of India in Houston has announced the launch of a new Indian Consular Application Centre (ICAC) in Dallas, Texas, bringing essential consular services closer to thousands of Indian-origin residents in the Dallas-Fort Worth region. The new centre, located at 8360 Lyndon B Johnson Freeway, Suite A-230, was virtually inaugurated by India's Ambassador to the United States Vinay Kwatra. The Dallas ceremony was led by Consul General D C Manjunath, who was joined by local elected officials and Indian-American community members. The Dallas ICAC is among nine such centres being opened across the United States to enhance accessibility to consular services. Other locations include Boston, Columbus, Detroit, Edison, Orlando, Raleigh, San Jose and an upcoming centre in Los Angeles. "The launch of these new consular application centres across the US is part of our mission to serve the Indian diaspora more effectively by bringing services closer to their homes," Ambassador Kwatra said during the virtual inauguration. "We remain committed to strengthening the ties between India and its global community." Consul General D C Manjunath said, "Dallas has a large and dynamic Indian community. Opening this ICAC means residents can now access vital consular services quickly without travelling to Houston. It's truly bringing the Consulate to your doorstep." Local elected officials also welcomed the move. Texas State Representative Vikki Goodwin commented, "This new consular centre is an important resource for our Indian-American neighbours, making government services more accessible and convenient." Dallas Indian Association president Rajesh Mehta said, "The ICAC is a game changer for Dallas-area residents. It shows India's dedication to its diaspora and makes a real difference in people's lives." The centre offers services including passport, visa, Overseas Citizen of India (OCI) applications, power of attorney, birth and marriage certificates, attestations, police clearance certificates for foreign nationals, No Obligation to Return to India (NORI), and life certificates, among others. The Dallas ICAC is open Monday through Saturday. (Join our ETNRI WhatsApp channel for all the latest updates) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Zomato delivered, but did the other listed unicorns? US tariff hike to hit Indian exports, may push RBI towards rate cuts Will TCS layoffs open the floodgates of mass firing at Indian IT firms? Indian IT firms never reveal the truth hiding behind 'strong' deal wins Is Bajaj Finance facing its HDFC Bank moment? Tata Motors' INR38k crore Iveco buy: Factors that can make investors nervous Stock Radar: Strides Pharma stock hits fresh 52-week high in July; will the rally continue in August? F&O Radar| Deploy Short Strangle in Nifty to gain from Theta decay For investors who can think beyond Trump: 5 large-cap stocks with an upside potential of up to 36%

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store