Range Rover aims to introduce new limited-edition models for the Indian market, catering to the increasing number of high-net-worth individuals. This decision aligns with the company’s strategy. Global Managing Director Martin Limpert confirmed this initiative in a recent discussion with PTI.
In following the Ranthambore Edition’s success, Range Rover aims to create more India-specific vehicles and collector series. Emphasizing the significance of local context in design, Limpert highlighted, “Customers value our alignment with the Indian market.” This aligns with Jaguar Land Rover’s strategy of tailoring growth plans for its four brands to cater to distinct audiences.
Range Rover began local manufacturing of Range Rover and Range Rover Sport in India, leading to a 2.5 times increase in sales for both models. Limpert highlighted India’s growth potential, mentioning around nine lakh high-net-worth individuals (HNWI) expected to reach 12 lakh by the decade’s end.
Limpert mentioned that joining the Tata Group will aid Range Rover’s expansion in India, benefitting from the vast growth opportunities in a market with over 1.5 billion people, where 65% are under 35. India’s growing economy at 6-7% presents ample chances for brands like Range Rover to leverage the increasing wealth and youthful demographics.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
Leave a Reply