2 days ago
- Automotive
- Business Standard
Popular Vehicles gains on Maruti Suzuki's approval for new true value outlet in Bangalore
Popular Vehicles and Services rose 2.23% to Rs 130.55 after the firm has received a letter of intent from Maruti Suzuki India to established a new independent true value outlet for preowned vehicles in Bangalore, Karnataka.
Shares of Maruti Suzuki India shed 0.31% to Rs 12,481 on the BSE.
The upcoming outlet will be located at Property No. 20/4, Bilekahalli Village, Begur Hobli, Bannerghatta Road, a prominent and well-connected area in Bangalore. This development represents a strategic move to expand our presence in Karnataka and also meet the growing demand for reliable, value-for-money mobility solutions in urban markets.
Spanning approximately 6,000 sq. ft., the new facility will have the capacity of covered display of up to 15 vehicles on-site. The facility is expected to be ready and start operations by the end of August 2025.
Naveen Philip, Promoter and MD, Popular Vehicles and Services said, We are excited to expand our relationship with Maruti Suzuki through the upcoming launch of a True Value outlet in Bangalore. This development complements our existing 3S Arena facility in the city and reflects our strong belief in the growth potential of Bangalores pre-owned car market. As one of Indias most vibrant automotive hubs, Bangalore presents a significant opportunity in the certified used car space.
This outlet will serve as a key destination for quality-assured preowned vehicles and further reinforces our broader strategy of expanding across both new and used vehicle segments. We remain committed to delivering a superior ownership experience built on trust, transparency, and service excellence.
Popular Vehicles and Services is in the business of sale and service of automobiles, spare parts, finance and insurance commission.
Maruti Suzuki India is engaged in the manufacture, purchase, and sale of motor vehicles, components, and spare parts (automobiles).
