Recently, there was a news in the network that India was chasing 6.5 billion rupees in taxes against Xiaomi. India's Ministry of Finance reported that it was found to have violated relevant Indian regulations and found that Xiaomi India Company had evaded taxes of 653 million rupees (about 558 million yuan). However, there are relevant views that this kind of investigation in India is a customs tax valuation problem that exists in all countries, and has nothing to do with Xiaomi's recent business, and Xiaomi insists on legal and compliant operations around the world. From this point of view, this is undoubtedly a means for the Indian government to exert pressure on Xiaomi and the Chinese government, and the domestic companies targeted by India this time also include OPPO and Foxconn.
As we all know, the owner of Jaguar Land Rover is Indian Tata Motors. Losses in Tata's auto business have intensified as the Indian auto market has declined, as has the domestic market, including factors such as China's economic slowdown and declining auto sales. At present, after the Indian government's "dirty water" incident to Xiaomi, I wonder whether the business sector of Jaguar Land Rover in the domestic market will be more deeply affected.
On March 26, 2008, India's Tata Motors acquired two jaguar Land Rover brands under Ford Motor Ford motor for US$2.3 billion in cash, including the intellectual property rights of the jaguar and Land Rover brands, the assembly plant and all models. As a result, Jaguar Land Rover has become a wholly owned subsidiary of Tata Motors. So we are familiar with jaguar Land Rover, the big boss behind it is actually the Tata Group.
From the perspective of sales performance, the performance of Jaguar Land Rover in the domestic market in the first half of 2021 was not satisfactory, with cumulative sales of only 55,000 vehicles in the first half of the year, and the combined average monthly sales of Land Rover and Jaguar brands were less than 10,000 units, even less than the monthly sales of hot models of other car companies. Jaguar Land Rover sales were dismal, in stark contrast to the overall upward trend in the domestic luxury car market, which was also the cumulative sales performance of the Chinese market in the first half of the year, with BMW reaching 467,000 units and Mercedes-Benz reaching 442,000 units. Among the second-tier luxury brands that Jaguar Land Rover once ranked, FAW Hongqi sold 122,200 units from January to June 2021, and Volvo sold 95,000 units in the first half of the year.