Landmark Cars Limited has submitted a regulatory filing pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, announcing the expansion of its MG Motor dealership network.
The company has received a letter of intent from JSW MG Motor India Pvt. Ltd. ("MGI") to open a new MG Experia showroom in Vastral, Ahmedabad, Gujarat. This new dealership will be established by M/s Aeromark Cars Private Limited, which is identified as a wholly owned subsidiary of Landmark Cars Limited.
This will become Landmark's 17th MG Motor outlet overall and will be dedicated to sales of MG cars. The expansion represents the company's second sales outlet for JSW MG Motors specifically in Ahmedabad.
The company states this expansion aligns with its strategic objective of "going deeper into a brand as well as a geography." Ahmedabad is noted as particularly significant as it is where the company began operations 27 years ago and continues to be an important market.
MG Motors is described as "a leading player in the new energy vehicle segment with multiple new launches planned." The disclosure notes that MG has become "a meaningful part of Landmark's portfolio" over the last couple of years, and this new addition is expected to strengthen Landmark's partnership with JSW MG Motor India.
Corporate Background
Landmark Cars Limited describes itself as "the leading premium automotive retail business in India" with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra, KIA, MG Motors and Citroën. The company also retails commercial vehicles for Ashok Leyland in India. Their business spans the automotive retail value chain including new vehicle sales, after-sales service and repairs, pre-owned passenger vehicle sales, and facilitation of third-party financial and insurance products.