Popular Vehicles and Services Limited, one of India's top automobile dealerships, has opened a new 3S (Sales, Service, and Spare Parts) facility for Maruti Suzuki in Bangalore. This strategic ₹90 million investment reflects the company's focus on expanding its presence in southern India and offering full-fledged services to customers.
Key Highlights:
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Facility Details: The new 3S facility has been developed to provide an uninterrupted customer experience, offering sales, service, and spare parts under a single roof. The expansion is based on Popular Vehicles' emphasis to enhance customer satisfaction and grow market share.
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Market Presence: Popular Vehicles has a wide network of showrooms, selling outlets, and service centers throughout Kerala, Karnataka, Tamil Nadu, and Maharashtra. The company is one of the leading dealership firms in India for both passenger and commercial vehicles.
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Recent Developments: Popular Vehicles completed its IPO recently, which comprised a new issue of ₹250 crore and an Offer for Sale of ₹351.55 crore. The funds are being utilized to repay debt and for general corporate expenses.
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Strategic Partnerships: It has robust partnerships with leading OEMs such as Maruti Suzuki, Honda, and Tata Motors, which allows it to distribute a wide variety of vehicles and services.
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Financial Performance: Popular Vehicles witnessed high revenue growth in FY23 with a profit after tax of ₹64.07 crore. Its large network and diversified services help the company in terms of financial stability.
This strategic foray in Bangalore showcases Popular Vehicles' efforts to expand its market reach and provide high-quality services to customers.
Sources: Popular Vehicles and Services, Maruti Suzuki, Business Standard