Shares of Maruti Suzuki gained 1 percent intraday Tuesday after the country's largest car manufacturer received good response for new cars at its NEXA showrooms.
"Maruti Suzuki's experiment to build a separately branded dealership chain to sell premium vehicles is showing encouraging results, with the channel already accounting for more than 11 percent of total sales and the company projecting that volume to expand further this year," a media report said.
Maruti sold 40,000 units of S-Cross and Baleno through NEXA showrooms since launching the concept in last July. There were 95 NEXA showrooms at the last count and the company plans to open 100 more in the next 12 months, it added.
The company sells only S-Cross and Baleno through its NEXA outlets. It launched S-Cross in August and Baleno in October 2015.
Its December sales increased 8.5 percent, boosted by Baleno and S-Cross along with Dzire Tour. It sold 1.19 lakh units during the month compared to 1.097 units in same month last year but exports fell 33.1 percent.
At 11:36 hours IST, the scrip of Maruti Suzuki India was quoting at Rs 4,302, up Rs 22.55, or 0.53 percent on the BSE.
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