Maruti designates Rs 1,000 crore to buy land parcels this fiscal

As part of its network expansion strategy, Maruti Suzuki India (MSI) has allotted Rs 1,000 crore in the current fiscal to buy land parcels for new dealerships. The company plans to buy land parcels, build dealerships and then lease them to selected dealers. MSI has already finalised 120 such land deals across the country in the first half of the current financial year. The company currently has the biggest sales network across the country which includes 2,069 dealerships in 1,700 cities. MSI's bid to enhance sales network comes at time when it has set a target to sell 20 lakh units per annum by 2020. The company sold over 15 lakh units during the last fiscal.