Maruti Suzuki shares gain up to 4%; heres why
On Suzuki Motors network expansion plans in India, shares of the countrys leading auto player Maruti Suzuki gained 4 per cent.
Maruti Suzuki shares in Thursday's trade gained as much as 4 per cent. The gains in the stock are propelled amid Suzuki Motors dealership expansion plans in India.
The stock at day's high scaled to levels of Rs 13,275, while in the previous session it closed at Rs 12,776 per share on the BSE.
Suzuki Motors plans to expand its dealership network in the country by 70 per cent. The company intends to expand its dealership network by adding more outlets and take the total outlet count to 6,800 by FY30. The company has plans to increase its dealership in small cities. The expansion plans are aimed at amid increasing per capital income in the country.
Company's dealership expansion history
As per Zee Business research inputs, the company each year adds 200 outlet on an average every year. At the end of June quarter of the ongoing FY25, the company had 3,900 dealership outlet. The company earlier announced to add 500 outlets since FY24.
Why dealership expansion plan?
The dealership expansion plan is looked at as the company intends to maintain as well as increase its market share in the key passenger vehicle market.
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