Country's largest carmaker Maruti Suzuki India (MSI) has earmarked Rs 1,000 crore in the current fiscal to buy land parcels for new dealerships.
As part of its network expansion strategy, 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.
"We have earmarked a budget of Rs 1,000 crore for the current fiscal. We plan to have around 1,500 new dealerships over the next three years," MSI Chief Financial Officer (CFO) Ajay Seth told
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