Maruti Suzuki True Value achieves 50 lakh pre-owned cars sold milestone

Maruti Suzuki India proudly celebrated a significant milestone on Wednesday, marking the triumphant journey of its pre-owned car segment, which has surpassed an impressive sales figure of 50 lakh units since its inception. The automotive giant initially unveiled its pre-owned car brand, Maruti Suzuki True Value, back in the year 2001, embarking on a journey that would eventually reshape the landscape of the Indian pre-owned car market.

Over the course of two decades, Maruti Suzuki True Value has solidified its position as not just a brand but a trusted automotive companion for countless Indian customers. Shashank Srivastava, the Senior Executive Officer of Marketing & Sales at Maruti Suzuki India Ltd (MSIL), highlighted this remarkable achievement, expressing that the brand has garnered the loyalty of an astounding 50 lakh satisfied customers. This achievement reflects the brand’s commitment to quality, reliability, and customer satisfaction, all of which have contributed to its enduring success in the competitive Indian automotive market.

True Value’s success story is further enhanced by its extensive presence across the nation. With a robust network of over 560 outlets spanning more than 281 cities, the brand has managed to create an unparalleled reach and accessibility for customers, providing them with a seamless and convenient experience throughout their car-buying journey. This widespread network exemplifies Maruti Suzuki’s dedication to ensuring excellence and convenience for its customers, aligning with the brand’s overarching philosophy.

As Maruti Suzuki India looks forward to the future, the accomplishment of the 50 lakh units sold milestone serves as a testament to the brand’s legacy of innovation, trust, and customer-centricity. It signifies not just a numerical achievement but a reflection of the deep-rooted bond Maruti Suzuki has established with its customers over the years. With its unwavering commitment to delivering quality vehicles and a seamless ownership experience, Maruti Suzuki True Value continues to redefine the pre-owned car market, setting new benchmarks and reinforcing its position as a leader in the Indian automotive industry.

Celebrating its 22nd year of operation, Maruti Suzuki True Value has notched a remarkable feat in the automotive industry by selling over 50 lakh units in its pre-owned car segment since its inception in 2001. The brand has firmly established itself as the most revered and trustworthy pre-owned car destination in India, gaining the loyalty and satisfaction of 50 lakh satisfied customers.

Shashank Srivastava, the Senior Executive Officer of Marketing & Sales at Maruti Suzuki India Ltd (MSIL), emphasized the brand’s achievement, highlighting its enduring commitment to delivering quality and reliability in the pre-owned car market.

Presently, Maruti Suzuki True Value spans across a vast network of over 560 outlets in more than 281 cities across India. This extensive and strategically positioned network enables the brand to provide exceptional service and convenience to customers across the nation.

Maruti Suzuki, the prominent auto manufacturer, recently unveiled its ambitious strategy named ‘Maruti 3.0,’ aiming to introduce around 28 diverse models within the next seven years. R C Bhargava, the company’s Chairman, shared this strategic plan while addressing the shareholders in the Annual Report for the fiscal year 2022-23. Notably, Maruti Suzuki also plans to significantly enhance its production capacity as part of this new strategy.

Bhargava highlighted that the automotive industry is at a crucial juncture and referred to the previous phases of Maruti’s evolution. He identified the initial phase as the period when Maruti operated as a public enterprise, followed by the second phase that concluded with the emergence of the Covid-19 pandemic and India’s automotive market ascending to the position of the world’s third-largest. The challenges faced by the company during this phase were unprecedented.

Bhargava emphasized the pivotal role played by Suzuki Motor Corporation (SMC), Maruti Suzuki’s parent company, in achieving the milestone of 2 million units of production capacity over a span of 40 years. He further revealed that Maruti Suzuki now aims to replicate this feat by adding another 2 million units of production capacity within a span of just 9 years.

He shared the significance of the strategic ‘Maruti 3.0’ plan and the company’s aspiration to adapt to the evolving market dynamics and customer preferences. Bhargava’s address underlined the determination to swiftly transition into this new phase while maintaining Maruti Suzuki’s market leadership.

The Chairman’s announcement sheds light on the transformative journey that Maruti Suzuki is embarking upon. The strategic shift encapsulates the company’s drive to address the dynamic challenges posed by the industry and propel its growth trajectory. By adding a multitude of new models and significantly increasing production capacity, Maruti Suzuki aims to continue its legacy of innovation, customer satisfaction, and market dominance.

Additionally, the chairman alluded to the potential for structural reorganization within the company. He acknowledged the substantial challenges associated with managing the production of 4 million units annually and emphasized the need for thoughtful consideration and potential restructuring to ensure the best interests of shareholders and stakeholders.

Bhargava indicated the company’s intention to unveil its proposed plans for restructuring in the near future. He assured that Maruti Suzuki is actively working on formulating a comprehensive strategy that aligns with the evolving dynamics of the automotive industry and the company’s long-term vision. The chairman’s statement underscores Maruti Suzuki’s commitment to transparency and effective governance while navigating the complexities of expansion and adaptation in a rapidly changing market landscape.