Landmark Cars and JSW MG Motor India Deepen Ties with Launch of Innovative MG Select Dealerships

Landmark Cars Limited (BSE: 543714 & NSE: LANDMARK), one of the leading premium automotive retail businesses in India, has received a letter of intent from JSW MG Motor India Pvt. Ltd. ("MGI") to open new MG Select dealerships in Ahmedabad and Kolkata. MG Select, a new brand channel of MGI, is dedicated to developing the 'accessible luxury' segment in India. At launch the company will have two models, MG Cyberster and the MG M9 EV with more to follow later. Sales are expected to begin by May 2025. These dealerships will be established by M/s Aeromark Cars Private Limited, a wholly owned subsidiary company of Landmark Cars.

This demonstrates Landmark's ability to fortify its partnership with MGI and maintain its standing as the partner of choice for OEMs. This strategic collaboration expands the company's presence in the luxury market and aligns with Landmark's twin strategy of horizontal expansion by strengthening its relationship with the existing OEMs and vertical expansion by going deep into an identified geography to achieve operating leverage to strengthen its footprint in its existing territories and consolidate its market presence.

With these dealerships, Landmark will not only consolidate its leadership position in Ahmedabad, it will also be able to increase its offerings in Kolkata where now it will deal in MG Select Products apart from its existing product offerings of Mercedes-Benz, Mahindra & Mahindra and Kia.

Commenting on this development, Mr. Sanjay Thakker, Promoter and Chairman, Landmark Cars Limited said, "I am very excited about the launch of the upcoming MG Select products. This new range has the potential to broaden the 'accessible luxury' market in India, and Landmark is well-positioned to capitalize on this growth. This initiative aligns perfectly with Landmark's strategy to grow with existing, profitable brands and strengthen our presence in our current geographies."

Shares of Landmark Cars Limited was last trading in BSE at Rs. 609.55 as compared to the previous close of Rs. 604.10. The total number of shares traded during the day was 661 in over 55 trades.

The stock hit an intraday high of Rs. 609.55 and intraday low of 592.95. The net turnover during the day was Rs. 395282.00.

Source : Equity Bulls

Keywords

LandmarkCars INE559R01029 AutoDealer JSWMGMotorIndia NewDealerships Ahmedabad Kolkata