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Business News/ Auto News / Maruti Suzuki True Value achieves 50 lakh pre-owned cars sold milestone
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Maruti Suzuki True Value achieves 50 lakh pre-owned cars sold milestone

Maruti Suzuki's pre-owned car segment sells over 50 lakh units since 2001, solidifying its position as India's top brand.

Maruti Suzuki first introduced its pre-owned car brand, Maruti Suzuki True Value, back in 2001. (REUTERS)Premium
Maruti Suzuki first introduced its pre-owned car brand, Maruti Suzuki True Value, back in 2001. (REUTERS)

Maruti Suzuki India announced a significant achievement on Wednesday as its pre-owned car segment surpassed the remarkable milestone of 50 lakh units sold since its inception. The company first introduced its pre-owned car brand, Maruti Suzuki True Value, back in 2001.

Marking 22 successful years in the industry, Maruti Suzuki True Value has solidified its position as India's most trusted pre-owned car brand, garnering the loyalty of 50 lakh delighted customers, according to a statement by Shashank Srivastava, Senior Executive Officer of Marketing & Sales at Maruti Suzuki India Ltd (MSIL).

Currently, True Value operates across more than 281 cities, boasting a wide network of over 560 outlets nationwide. This expansive presence allows it to serve customers with excellence and convenience throughout the country.

Earlier this week, the auto manufacturer announced its plan to add about 28 different models in the next seven years. The company's Chairman R C Bhargava said that Maruti Suzuki is kicking off the 'Maruti 3.0' strategy to ramp up its production too. Bhargava, during his address to the company's shareholders in the Annual Report for 2022-23 added that the company has aimed to add another 20 lakh units of production capacity in nine years.

"What is now being planned can be said to be the start of 'Maruti 3.0'. Our first phase was when we were a public enterprise. The second phase ended with the Covid pandemic, and the Indian car market became the third largest in the world. The challenges before the company are unprecedented. It took us 40 years to create a capacity of 2 million units and SMC (Suzuki Motor Corporation) helped in this process by establishing the Gujarat facility. Your company now has to add the next 2 million in a period of 9 years," Bhargava told Maruti's shareholders.

Further, the chairman hinted at possible structural reorganisation. He said, "The task of managing all the issues relating to the production of 40 lakh units a year requires considerable thought and possible reorganisation of the structure of the company keeping in view the best interests of all shareholders as well as other stakeholders of the company. We will, as soon as possible, announce what we are proposing".

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Published: 09 Aug 2023, 01:36 PM IST
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