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Luxury cars set to get cheaper
Business Standard
|July 25, 2025
The India-United Kingdom free-trade agreement (FTA) is likely to boost market access for high-end luxury cars owing to lower tariffs.
Under the FTA, tariffs on automotive imports will come down by 50 per cent over 10 years (out of quota).
JLR is likely to be the biggest beneficiary of this move. Players like Aston Martin (which sold fewer than 25 cars in India in 2024, according to market sources), Rolls Royce, and McLaren too are likely to benefit from the reduced import duty.
Players like Jaguar Land Rover (JLR) make 60 per cent of the cars they sell in India locally as completely knocked down (CKD) units and it is on track to start local assembly at its Tamil Nadu plant next year. It makes the Range Rover, Range Rover Sport, Velar, and Evoque in India (Pune plant). CKD units attract a 15 per cent basic customs duty.
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