New Delhi, May 5 : Jaguar Land Rover India on Tuesday announced a sharp reduction in prices of its flagship Range Rover models by up to Rs 75 lakh, as it moves to pass on anticipated benefits from the proposed India-UK free trade agreement to customers.

The company said that the price cuts apply to completely built unit (CBU) models imported from the UK, with the biggest revisions seen in the high-end SV portfolio.

The Range Rover SV has been repriced from Rs 4.25 crore to Rs 3.5 crore (ex-showroom), while the Range Rover Sport SV now starts at Rs 2.35 crore, down from Rs 2.75 crore.

According to the company, the revised pricing reflects changes expected under the new duty structure once the India-UK FTA comes into effect.

The new prices are effective immediately, signalling the companyâ??s confidence in the agreementâ??s rollout.

Commenting on the move, Managing Director Rajan Amba said the company is extending the anticipated benefits of the trade deal to its customers in advance.

He noted that the updated pricing reinforces JLR Indiaâ??s customer-first approach and aims to make its premium SV range more accessible to buyers.

"The revised prices reflect the new duty structure enabled by the FTA and will be effective immediately," it said.

He added that the free trade agreement is expected to expand the appeal of the brandâ??s aspirational portfolio and further strengthen the companyâ??s growth trajectory in Indiaâ??s luxury car market.

However, the company clarified that prices of its locally manufactured models -- including Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar and Discovery Sport -- will remain unchanged, as they are not impacted by import duty revisions.

It also said that models such as Defender and Discovery will continue with their current pricing since they are produced in Slovakia and do not fall under the scope of the India-UK trade agreement.

"We are confident that this FTA will allow more clients to experience the highly desirable and aspirational SV portfolio and further strengthen the JLR India growth story," Amba stated.

/IANS