Landmark Cars Ltd, one of India’s leading premium automotive retail chains, has received a Letter of Intent (LoI) from Stellantis Automobiles India, marking a strategic expansion of its brand portfolio. The LoI pertains to the sale and service of Citroën vehicles through Landmark’s existing infrastructure, further deepening its footprint in the luxury and premium passenger vehicle segment.
This development reinforces Landmark’s position as a multi-brand dealership powerhouse and aligns with Stellantis’ aggressive push to scale Citroën’s presence across key urban markets in India.
Key Highlights
Landmark Cars unit receives LoI from Stellantis Automobiles India for Citroën dealership operations
Citroën vehicles to be retailed and serviced from Landmark’s existing Jeep facilities in Mumbai
No additional capex required, enabling efficient brand onboarding and faster market activation
Citroën becomes the 11th brand under Landmark’s umbrella, joining Mercedes-Benz, BYD, Kia, Honda, and others
Landmark Lifestyle Cars Pvt Ltd, a wholly owned subsidiary, will manage the new operations
Strategic Implications for Landmark Cars
Brand Diversification
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The addition of Citroën strengthens Landmark’s premium and mid-premium offerings, allowing it to cater to a broader customer base
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The move supports Landmark’s strategy to leverage existing infrastructure for multi-brand operations, optimizing fixed costs and improving return on capital employed
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Citroën’s growing product lineup, including the C3X and C3 Aircross, complements Landmark’s existing portfolio and enhances showroom footfall
Operational Efficiency
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By utilizing Jeep facilities in Mumbai, Landmark avoids the need for new real estate investment, accelerating time-to-market
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Shared service bays, backend systems, and trained personnel will ensure seamless integration and customer experience
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The dealership will offer both sales and after-sales services, including financing, insurance, and extended warranty packages
Market Positioning
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Mumbai is a strategic market for Citroën, given its high concentration of urban buyers and rising demand for European automotive brands
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Landmark’s established reputation and customer base in the region provide a ready platform for Citroën’s expansion
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The partnership aligns with Stellantis’ broader India strategy to scale Citroën through selective, high-impact dealership tie-ups
Financial and Business Impact
Landmark Cars reported record quarterly revenue of ₹1,195 crore in Q3 FY25, with new car sales contributing significantly
The company’s EBITDA stood at ₹66.5 crore, with aftermarket services contributing 73% of total EBITDA
With Citroën onboard, Landmark expects incremental revenue of ₹150–₹200 crore annually from the Mumbai region alone
The company’s stock, trading near ₹430.15, gained 7.2% following the announcement, reflecting investor optimism
Industry Context and Competitive Landscape
India’s premium car market is projected to grow at a CAGR of 10–12% over the next five years, driven by rising disposable incomes and urbanization
Landmark competes with other multi-brand retailers like Group Landmark, PPS Motors, and Jubilant MotorWorks
Its diversified brand mix and pan-India presence across 11 states and 31 cities give it a competitive edge in scaling new partnerships
Leadership Commentary and Future Outlook
Sanjay Thakker, Chairman of Landmark Cars, emphasized the company’s focus on profitable growth through brand diversification and infrastructure optimization. He noted that the addition of Citroën aligns with Landmark’s long-term strategy to deepen its presence in the premium segment while maintaining operational agility.
Looking ahead, Landmark plans to expand its Citroën footprint to other metro cities, including Pune, Bengaluru, and Delhi NCR, subject to performance metrics and Stellantis’ network strategy.
Conclusion
The Letter of Intent from Stellantis Automobiles India marks a significant milestone for Landmark Cars, reinforcing its role as a preferred partner for global automotive brands entering or expanding in India. With Citroën now part of its portfolio, Landmark is poised to capture a larger share of the premium car market, backed by operational efficiency, brand equity, and strategic foresight.
Sources: Business Upturn, Sharekhan, Stellantis Media, Landmark Cars Investor Presentation
