Tata Motors launches Jaguar, Land Rover in India

By Janaki Krishnan

MUMBAI (Reuters) - Tata Motors Ltd, India's largest vehicles maker, on Sunday announced the launch in India of Jaguar and Land Rover vehicles, the marquee brands it bought from Ford Motors last year.

Saying it was a momentous occasion for the company, chairman Ratan Tata said, "This is in keeping with our desire to extend the penetration of the brands in India."

The automobile firm, which controls about 60 percent of the world's fifth-biggest truck and bus market, will soon also be rolling out the Nano, billed as the world's cheapest car.

Jaguar is launching the XF amd XK range of luxury coupes and convertibles in India starting at a price tag of 6.3 million rupees ($130,977) and going up to 9 million rupees.

Land Rover will initially be launching three vehicles including the Range Rover Sport and Land Rover Discovery 3, with prices also starting at 6.3 million rupees but going beyond 9 million.

"The luxury car market in India is very small, but there is a huge opportunity there. It is growing fast and we expect it to grow fast over the next 5 to 10 years," said David Smith, chief executive of Jaguar Land Rover.

"India is an important part of our plans for the future," said Mike Driscoll, managing director of Jaguar.

The luxury car segment in India is less than 1 percent of the total car market there.