Landmark Cars Sees 30% Surge in Enquiries After GST Cuts, Expects Strong Growth
Landmark Cars, a premium auto retailer in India, has seen a 30% increase in enquiries and showroom footfalls since September 22, following recent GST cuts. The luxury car segment is outperforming the broader passenger vehicle market, with growth three times that of ordinary passenger vehicles in the June quarter. Aryaman Thakker, Executive Director, expects this trend to continue until Diwali and projects 13-14% growth for the second half. The company has expanded to 141 outlets across India over the past two years, focusing on premium brands like Mercedes-Benz.
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Landmark Cars , a leading premium auto retailer in India, has reported a significant boost in customer interest following recent government GST cuts. The company has experienced a 30% increase in enquiries and showroom footfalls since September 22, signaling a potential upturn in the luxury car market.
Luxury Car Segment Outpaces Market
Landmark Cars, which operates 141 outlets across India and primarily sells prestigious brands such as Mercedes-Benz, has noted that luxury cars have been outperforming the broader passenger vehicle market. In the June quarter, the luxury car segment registered growth three times that of ordinary passenger vehicles, highlighting a shift in consumer preferences towards premium automobiles.
Positive Outlook and Expansion Plans
Aryaman Thakker, Executive Director of Landmark Cars, expressed optimism about the company's prospects:
"We expect this increased footfall to continue until Diwali," Thakker stated. He further projected a robust double-digit growth of 13-14% for the second half, underscoring the company's confidence in the premium auto segment's potential.
Strategic Expansion
Landmark Cars has been actively expanding its presence in the premium auto retail space. Over the past two years, the company has added 40 new outlets to its network, bringing its total to 141 showrooms across India. This aggressive expansion strategy aligns with the company's focus on capitalizing on the growing demand for luxury vehicles in the country.
Impact of GST Cuts
The recent GST cuts implemented by the government have evidently had a positive impact on the automotive sector, particularly in the premium segment. The 30% increase in enquiries and showroom visits since the tax reduction suggests that consumers are responding favorably to the more attractive pricing of luxury vehicles.
Market Position and Future Prospects
As a key player in the premium auto retail space, Landmark Cars is well-positioned to benefit from the growing interest in luxury vehicles. The company's strong brand portfolio, including Mercedes-Benz, coupled with its expanding network of outlets, provides a solid foundation for capturing the anticipated growth in the sector.
With the festive season approaching and the positive effects of the GST cuts, Landmark Cars appears poised for a strong performance in the coming months. The company's expectation of double-digit growth reflects its confidence in both the market conditions and its strategic positioning within the premium auto retail segment.
Investors and industry observers will be keenly watching how Landmark Cars capitalizes on this increased consumer interest and translates it into sustained growth and market share expansion in the competitive Indian automotive market.
Historical Stock Returns for Landmark Cars
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.13% | +0.99% | -5.19% | +56.46% | -3.13% | +31.76% |
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