Latest news with #Hoornik
Time of India
22-05-2025
- Automotive
- Time of India
UK-India FTA to enhance focus on Indian market: JLR
HighlightsJaguar Land Rover's Chief Commercial Officer Lennard Hoornik stated that the UK-India free trade agreement will facilitate business and enhance the company's focus on the Indian market. The British automaker plans to introduce around eight battery electric vehicles in India by 2030, aiming to provide customers with a variety of powertrain options. The recent free trade agreement between India and the United Kingdom aims to lower tariffs on 99 percent of Indian exports and enhance trade between the two nations, with a goal of doubling two-way commerce by 2030. Jaguar Land Rover on Wednesday said the landmark UK-India free trade agreement (FTA) will help in removing obstacles in doing business and helping the automaker to enhance its focus on the Indian market . The company, which is present in India through a wholly owned subsidiary, locally assembles most of its products in the country and is in the process of adding new models and bolstering sales network over the next few years. "We already do local production (in India) of almost all of our cars. We have no rush, but at some point, Defender will be added to that... It (UK-India FTA) is really exciting, and it will make everything much easier, and it will create more focus on the market," JLR Chief Commercial Officer Lennard Hoornik told reporters here. Any agreement that helps remove obstacles regarding trade between two countries is a welcome step, he said, noting that the company would get to comment more once complete details of the trade agreement are out. "I think we want to invest more than ever before. I want to double the amount of retailers we have in India very quickly... then we are making record marketing investments in India," Hoornik stated while outlining plans for the Indian market. He noted that the British automaker, which is owned by Tata Motors , is focussed on retaining the quality of its local production in India. "And I think all the trade agreements will help with that," Hoornik said. He added that the company's focus remains on creating maximum brand desire across markets, including India. Asked about product actions in India, Hoornik said he company aims to have every nameplate an electric version. "Our strategy is all about giving choice to the customer to chose from various powertrains," he added. JLR plans to introduce about eight battery electric vehicles in the Indian market by 2030. Earlier this month, India and the UK sealed a landmark FTA that will lower tariffs on 99 per cent of Indian exports and would make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket. The aim is to double two-way commerce by 2030 from the present USD 60 billion. India has included adequate safeguards in the agreement to protect its sensitive sectors and in the automobile segment, the import duty will be reduced over 10-15 years. The duty concession on imports of petrol and diesel engine vehicles from the UK is limited to a pre-defined quota. Similarly, the quota for imports of British electric vehicles (EVs) at a concessional rate of customs duty is limited only to a "few" thousand.
Time of India
22-05-2025
- Automotive
- Time of India
FTA with UK lays the road for JLR to double India sales: CCO
India's recent free trade agreement with the UK will allow Jaguar Land Rover (JLR) offer more imported models to Indian consumers, said a senior company executive. This would help the British luxury car maker attain its aim of doubling annual sales in India over the next three years, the executive said. Sales at JLR India have been on an upswing in the recent past. The automaker clocked a 40per cent surge in retail sales at 6,183 cars in FY25—the highest in its 17-year operations in the country. Wholesale volumes rose 39per cent to 6,266 vehicles. The company overtook Audi to emerge as the third-largest luxury car maker in India after Mercedes-Benz and BMW. 'We are excited about the FTA. It will bring more focus on the market,' said Lennard Hoornik , chief commercial officer, JLR. 'We would want to invest in India more than ever before and double the number of retailers we have. We are making record marketing investments in India,' he said, without elaborating. India currently levies 110per cent duty on all fully-built imported cars. Under the FTA, import duties on UK-built models will be reduced, in a staggered manner, over the next few years. 'Any reduction of trade obstruction' is very good, said Hoornik. With the exception of the Defender SUV—which is imported from Europe and will also be locally assembled in India at some point, all other models that the Tata Motors unit sells in India, are locally assembled, he said. Hoornik—who is responsible for JLR's global sales—was speaking to a group of Indian journalists at the company's headquarters in the UK. Over the next 12-18 months, JLR plans to launch eight models including new models and refreshes. This will include the Jaguar Type 00—the company's maiden EV offering under the "Reimagine Strategy" announced in 2021; the Range Rover electric SUV, and special edition models as well as refreshes of existing vehicles. To be sure, JLR is placing huge bets on EVs at a time when carmakers globally are curtailing their EV plans amid slower-than-expected transition to such eco-friendly vehicles. Hoornik however noted that JLR's flexible powertrain strategy will hold it in good stead. 'We have been focussed on flexible powertrains. Hence, for us, it's not a question of over investing in EVs and under investing in internal combustion engines. What is most difficult is forecasting the customer demand,' Hoornik told ET. Separately, Rajan Amba, managing director, JLR India said the company will defer plans to launch more imported models till the India-UK FTA is fully implemented. JLR is also awaiting clarity on duty cuts and the number of cars that can be imported in a single year at lower duties. 'The FTA definitely queers the pitch for imported models, but it will slow down decision making till the agreement is executed,' said Amba, adding that there are no plans to localise more models. He also noted that since the Defender is imported from Europe, it will not stand to gain from the FTA. With a current order book of 4,000 vehicles, Amba expects JLR India's annual sales to rise to 15,000 to 18,000 vehicles over the next three years.(The reporter is in Gaydon, UK at the invitation of JLR.
Time of India
21-05-2025
- Automotive
- Time of India
India's FTA with UK will bring more focus on the market: JLR executive
Jaguar Land Rover anticipates a sales surge in India. The India-UK free trade agreement will facilitate imports. JLR aims to double its Indian sales within three years. The company plans to launch eight new models, including EVs. JLR will also increase its retail presence and marketing investments. The company awaits clarity on duty cuts before launching more imported models. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Gaydon, UK: India's recent free trade agreement with the UK will help Jaguar Land Rover ( JLR ) offer imported models to Indian consumers, a senior company executive said. This would help the British luxury car maker meet its aim of doubling annual sales in India over the next three years, the executive at JLR India have been on an upswing in the recent past. The automaker clocked a 40% surge in retail sales at 6,183 cars in FY25—the highest in its 17-year operations in the country. Wholesale volumes rose 39% to 6,266 vehicles. The company overtook Audi to emerge as the third-largest luxury car maker in India after Mercedes-Benz and BMW."We are excited about the FTA. It will bring more focus on the market,' said Lennard Hoornik, chief commercial officer, JLR. 'We would want to invest in India more than ever before and double the number of retailers we have. We are making record marketing investments in India," he said, without currently levies 110% duty on all fully-built imported cars. Under the FTA, import duties on UK-built models will be reduced, in a staggered manner, over the next few years."Any reduction of trade obstruction" is very good, said Hoornik. With the exception of the Defender SUV—which is imported from Europe and will also be locally assembled in India at some point, all other models that the Tata Motors unit sells in India, are locally assembled, he is responsible for JLR's global sales—was speaking to a group of Indian journalists at the company's headquarters in the the next 12-18 months, JLR plans to launch eight models including new models and refreshes. This will include the Jaguar Type 00—the company's maiden EV offering under the "Reimagine Strategy" announced in 2021; the Range Rover electric SUV, and special edition models as well as refreshes of existing be sure, JLR is placing huge bets on EVs at a time when carmakers globally are curtailing their EV plans amid slower-than-expected transition to such eco-friendly vehicles. Hoornik however noted that JLR's flexible powertrain strategy will hold it in good stead."We have been focussed on flexible powertrains. Hence, for us, it's not a question of over investing in EVs and under investing in internal combustion engines. What is most difficult is forecasting the customer demand," Hoornik told Rajan Amba, managing director, JLR India said the company will defer plans to launch more imported models till the India-UK FTA is fully is also awaiting clarity on duty cuts and the number of cars that can be imported in a single year at lower duties."The FTA definitely queers the pitch for imported models, but it will slow down decision making till the agreement is executed," said Amba, adding that there are no plans to localise more models. He also noted that since the Defender is imported from Europe, it will not stand to gain from the a current order book of 4,000 vehicles, Amba expects JLR India's annual sales to rise to 15,000 to 18,000 vehicles over the next three years.(The reporter is in Gaydon, UK at the invitation of JLR)
Time of India
21-05-2025
- Automotive
- Time of India
UK-India FTA to help remove obstacles in doing biz, enhance focus on Indian market: JLR
Jaguar Land Rover on Wednesday said the landmark UK-India free trade agreement (FTA) will help in removing obstacles in doing business and helping the automaker to enhance its focus on the Indian market . The company, which is present in India through a wholly owned subsidiary, locally assembles most of its products in the country and is in the process of adding new models and bolstering sales network over the next few years. "We already do local production (in India) of almost all of our cars. We have no rush, but at some point, Defender will be added to that... It (UK-India FTA) is really exciting, and it will make everything much easier, and it will create more focus on the market," JLR Chief Commercial Officer Lennard Hoornik told reporters here. Any agreement that helps remove obstacles regarding trade between two countries is a welcome step, he said, noting that the company would get to comment more once complete details of the trade agreement are out. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tiger meeting her former zookeeper after 5 years. See what happens next! Story To Hear Undo "I think we want to invest more than ever before. I want to double the amount of retailers we have in India very quickly... then we are making record marketing investments in India," Hoornik stated while outlining plans for the Indian market. He noted that the British automaker, which is owned by Tata Motors , is focussed on retaining the quality of its local production in India. Live Events "And I think all the trade agreements will help with that," Hoornik said. He added that the company's focus remains on creating maximum brand desire across markets, including India. Asked about product actions in India, Hoornik said he company aims to have every nameplate an electric version. "Our strategy is all about giving choice to the customer to chose from various powertrains," he added. JLR plans to introduce about eight battery electric vehicles in the Indian market by 2030. Earlier this month, India and the UK sealed a landmark FTA that will lower tariffs on 99 per cent of Indian exports and would make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket. The aim is to double two-way commerce by 2030 from the present USD 60 billion. India has included adequate safeguards in the agreement to protect its sensitive sectors and in the automobile segment, the import duty will be reduced over 10-15 years. The duty concession on imports of petrol and diesel engine vehicles from the UK is limited to a pre-defined quota. Similarly, the quota for imports of British electric vehicles (EVs) at a concessional rate of customs duty is limited only to a "few" thousand.
