Landmark Cars to acquire Honda dealerships in Rajasthan

Landmark Cars: Premium automotive retailer Landmark Cars has received a Letter of Intent from Honda Cars India Limited to acquire existing dealership operations in Rajasthan, marking its entry into the “high-growth” market of Jaipur, the company said in an exchange filing.

The move, announced on May 2, 2024, signifies Landmark Cars' expansion into its eleventh state, solidifying its position as a leading provider of premium automotive services in India. The Letter of Intent covers the acquisition of dealership operations in Jaipur, Alwar, and Bhiwadi, all owned by the same group in Rajasthan.

The acquisition will be carried out by Landmark Automobiles Ltd, a wholly-owned subsidiary of Landmark Cars, responsible for managing the existing operations of Honda Cars. Sanjay Thakker, Promoter and Chairman of Landmark Cars Limited, said, "The auto industry is witnessing a trend of OEMs preference to consolidate retail level operations and work with well-capitalised and professionally managed organisations."

Thakker further highlighted Landmark's solid reputation as a preferred partner for OEMs and stressed Honda's continued trust in Landmark.

Landmark Cars Limited is known for its extensive dealership network, offering premium automotive brands such as Mercedes-Benz, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra, Kia, and MG Motors, alongside commercial vehicle retail services for Ashok Leyland in India. The company covers various aspects of the automotive retail value chain, including sales of new vehicles, after-sales service and repairs, sales of pre-owned passenger vehicles, and facilitating sales of third-party financial and insurance products.