Landmark Cars, a car dealer in India, became the 1st BSE/NSE listed car dealership in India. As on 2023, it has more than 117 outlets in India. It sells brands such as Honda, Jeep, Volkswagen, BYD, Renault, and Mercedes-Benz in India. In FY2023, it could cross Rs 4,500 crore revenue coming from its operations; it could achieve 36% year-on-year growth rate. This specific case study describes the Landmark Cars Diversification Strategies, its Used Car Market, New Dealerships it is Opening, Mergers & Acquisitions and the Challenges it is encountering.

Diversity in Portfolios: Landmark Carswho started as a new car dealership, started selling branded cars, doing automobile servicing business, selling parts, accessories, and lubricants. It also provides auto financing and insurance services through its financial services vertical. It also partnered with OEMs (Original Equipment Manufacturers). As on 2023, it is looking to entering to selling used cars in the same brands of the new cars it is already selling.

Used Car Market: As on FY2022, there were 4.1 million used cars sold in India. By 2027, used cars sold would grow to 8.2 million cars in India. Landmark Cars is targeting to do Rs 100 crore business with used cars in FY2024. Landmark has expertise in sourcing and selling used cars in the brands they are focused on such as Honda, Jeep, Volkswagen, BYD, Renault, and Mercedes-Benz; as on 2023, they would like to restrict their scope in used car segment only to these brands.

Adding New Dealerships: As on May 2023,Landmark Cars was opening two new car dealerships of MG Motors, one in Indore and one in Bhopal of Madhya Pradesh. The business units will have sales and post-sales support services as well. Landmark Cars also support commercial vehicle services of Ashoka Leyland in India. In September 2023, Landmark Cars announced another new dealership of Mahindra & Mahindra to sell its personal, pickup, and supro range of vehicles in West Bengal region. With these developments, Landmark share price zoomed up by 8%. These MG Motors and Mahindra & Mahindra dealerships will be opened under its owned subsidiary known as Landmark Mobility Private Limited. The strategy of this business unit is to promote SUV OEs and also to focus on Electric Vehicle segment. Since its IPO in December 2022, Landmark Cars share price has zoomed up by 60%; by Dec 2023.

Mergers & Acquisitions: As on November 2023, Landmark was looking for acquisitions in order to grow its business through car dealerships. They would like to acquire dealerships in key locations. They have also plans to list their subsidiaries also in stock exchanges separately; in order to create wealth to shareholders as well. Its 117 outlets are spread across 29 locations in 9 different Indian states and union territories. One more opportunity Landmark group was looking is to acquire more car dealerships such as the ones, which were family run businesses for long time, having succession problems, having financial problems, and the family businesses who wants to enter into another business sectors. They entered into Goa by acquiring one of MG Motors dealerships; they think that it is the way to enter into new markets and new states. According to Landmark group, consolidation in car dealership sector is going to take place soon, because of the trust and brand equity from buyers’ side.

Challenges: In Q12023, Landmark Cars encountered chip storage issues and lack of certain spare parts resulted into some amount of business loss. As the need for autonomous cars and the research is growing with respect to self-driving cars, across the world in 2023, there is chip shortage to the manufactures and also to the service providers.

Going Further: In 2022, the factors that helped Landmark Cars IPO (Initial Public Offering), were its healthy financial situation, strong dealership presence, premium automobile sales business, its leadership position in sales, and its decent valuation. The car dealerships being integral part of automobile industry in India, are adding to the Economy; and also contributing to sectors such as banking and financial services industry, insurance industry and auto component industry. This segment is also generating employment to curtain semi-skilled workers as well. Hence, in this segment in near future we may see the consolidation of car dealerships, we may even see some large player to emerge from this segment, instead of staggered car dealership market. Because the Electric Vehicle sector dynamics also will change the dimensions of traditional car dealership market in the country. Let’s wait and see……

Remember…… This is only for business education purpose only.

Thank You,

Hope You Enjoyed Reading.

Best Wishes & Happy New Year to Everyone,

Dr.Goparaju Purna Sudhakar



  1. BusinessLine (2023), “Landmark Cars add MG Cars to its Collection”, The Hindu Business Line, May 31, 2023.
  2. Dhingra, M. (2023), “Group Landmark to Foray into Pre-Owned Car Business, targets Rs 100 crore revenue in FY2024”, Autocar Professional, October 23, 2023.
  3. EMD (2023), “Landmark Cars Posts Rs 4,594 crore revenue for FY2023 up 36%”, Express Mobility, Indian Express Group, April 17, 2023.
  4. ET Markets (2023), “Landmark Cars shares Jump 8% on dealership agreement with M&M”, The Economic Times, September 08, 2023.
  5. ExpressWebDesk (2022), “Landmark Cars IPO review: Here is Everything You Need to Know”, Indian Express, December 13, 2022.
  6. Sachdev, A. (2023), “Landmark Cars Looks at M&As to grow”, Live Mint, November 24, 2023.
  7. “Landmark Cards”, Business Standard, December 22, 2023.
  8. Wadhwa, N. (2023), “Dealerships will Always be Integral Part of Indian Auto Industry, Says Landmark Cars Chief Sanjay Thekker”,  Indian Express, November 02, 2023.

Leave a Reply

Your email address will not be published. Required fields are marked *


Captcha *