Mahindra First Choice Wheels Ltd. (MFCWL), a part of Mahindra Group and a certified used car company set up their 300th outlet in Mulund, Mumbai. With outlets in more than 180 cities across India already, this milestone was achieved within a span of six years.
The company has been in the field since 2007. It has been coming up with new ideas like launching ‘Highline’ stores for high end cars apart from selling multi-brand cars under warranty and giving the customer a choice of the most comprehensive warranty products available. The company has sold 46,000 cars in the 2013 financial year eventually increasing their sales volumes by 35 per cent over the last financial year.
The amount of used cars in the Indian market is huge and immensely outnumbers the new cars quantity. With the economic slowdown, the demand of used cars is expected to increase even more. MFCWL claims to have sold more than 1.5 lakh used cars through their ‘Auto-bid’ auction platform and plans to open even more outlets by the end of this year to be able to cater to the prospective used car buyers more effectively.
On the inauguration of the outlet Nagendra Palle, CEO, MFCWL, commented, “Our focus on continuous innovation on the customer front coupled with a unique business model centered around dealer profitability has helped us to get to 300 franchisee outlets in a short span of six years. The opportunity for growth is immense and we have just scratched the tip of the iceberg.”
Meanwhile, Rajeev Dubey, President (Group HR, Corporate Services and After-Market) & Member of the Group Executive Board, Mahindra & Mahindra Ltd., said, “Our conviction in the Mahindra First Choice business model is driven by the simple belief that a second hand car buyer is not a second class buyer. The continuous investment in product and process has allowed us to achieve a dominant status in the multi-brand used car space.”
Source : .carwale