India’s No. 1 multi-brand certified used car company now at 351 outlets pan India;
plans to expand MP footprint to 21 outlets by year End
Mahindra First Choice Wheels Ltd. – USPs
• India’s No.1 multi-brand certified used car company, Mahindra First Choice Wheels Ltd. (MFCWL), has a network of 351 franchise outlets spread across 208 locations in the country which includes metros, mini metros and smaller towns. The company is growing at a scorching pace with a CAGR of 40% by volumes over the last 5 years.The cumulative retail footprint under the Mahindra First Choice brand is in excess of 7.5 lakh sq feet.
• The company has created a unique franchisee driven business model and is on a mission to transform the way used cars are retailed in the country. It’s also the winner of the prestigious “Franchisor of the year” award in the Automotive business category by Franchisee India
• MFCWL is the market leader in the online auction space, having sold more than 1.5 lakh vehicles through the ‘Autobid’ auction platform
• The company has just launched a new product called the Indian Blue Book (IBB) – www.indianbluebook.com - which is India’s first and only used car pricing guide that incorporates transaction data with an analytical engine. IBB has got immediate traction with several leading banks and NBFCs, car portals, auto magazines, auto OEMs, dealers and customers subscribing to it
• A new product for car evaluation called ‘Autoinspekt’ has also been launched. This is based on the famed 118 point check list for vehicle evaluation. Autoinspekt is a cloud based product offering to manage vehicle inspections – an industry first
April 16, 2014, Indore: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today expanded its footprint in Central India with the inauguration of its authorized dealership, Gujarat Motors, in Madhya Pradesh. The dealership is located at Presige Tower, Indra Complex, Navlakha and is spread over 2000 sq. ft.
plans to expand MP footprint to 21 outlets by year End
Mahindra First Choice Wheels Ltd. – USPs
• India’s No.1 multi-brand certified used car company, Mahindra First Choice Wheels Ltd. (MFCWL), has a network of 351 franchise outlets spread across 208 locations in the country which includes metros, mini metros and smaller towns. The company is growing at a scorching pace with a CAGR of 40% by volumes over the last 5 years.The cumulative retail footprint under the Mahindra First Choice brand is in excess of 7.5 lakh sq feet.
• The company has created a unique franchisee driven business model and is on a mission to transform the way used cars are retailed in the country. It’s also the winner of the prestigious “Franchisor of the year” award in the Automotive business category by Franchisee India
• MFCWL is the market leader in the online auction space, having sold more than 1.5 lakh vehicles through the ‘Autobid’ auction platform
• The company has just launched a new product called the Indian Blue Book (IBB) – www.indianbluebook.com - which is India’s first and only used car pricing guide that incorporates transaction data with an analytical engine. IBB has got immediate traction with several leading banks and NBFCs, car portals, auto magazines, auto OEMs, dealers and customers subscribing to it
• A new product for car evaluation called ‘Autoinspekt’ has also been launched. This is based on the famed 118 point check list for vehicle evaluation. Autoinspekt is a cloud based product offering to manage vehicle inspections – an industry first
April 16, 2014, Indore: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today expanded its footprint in Central India with the inauguration of its authorized dealership, Gujarat Motors, in Madhya Pradesh. The dealership is located at Presige Tower, Indra Complex, Navlakha and is spread over 2000 sq. ft.
The outlet was inaugurated by Mr. Yatin Chadha, Senior Vice President - Retail Business, Mahindra First Choice Wheels Limited.
“With this inauguration, our network strength has expanded to 13 dealerships in Madhya Pradesh, with four in Indore alone. The average size of the used car market in the state is 6000 cars, which makes Indore a strategic market for the company and we look forward to working with Gujarat Motors – one of the top used car dealers in Indore - to further enhance our presence in the region,” said Yatin Chadha, Senior Vice President - Retail Business, Mahindra First Choice Wheels Limited.
“We are delighted to be associated with Mahindra First Choice Wheels which already enjoys strong brand equity in Indore. Gujarat Motors will offer the entire range of services for customers, including purchase and sale of multi-brand certified used cars, car finance, insurance, fitment of car accessories and assistance with paperwork and documentation,” said Mr.Anand Shah, Gujarat Motors.
Mahindra First Choice Wheels currently has a significant presence in Madhya Pradesh with 13 dealerships in eight cities and further plans to expand this number to 21 outlets by year end. Key focus towns include Bhopal, Jabalpur, Gwalior, Ujjain, Khandwa, Sagar, Narsimhapur, Satna.
MFCWL closed FY 14 with 351 outlets, a growth of 30% from FY13. These outlets are present in 208 towns across the country, with 64 towns boasting of more than one outlet. MFCWL’s B2B auction volumes increased over 50% with nearly 60 commercial sellers using the platform to sell vehicles to nearly 10,000 wholesale buyers. Autoinspekt – MFCWL’s industry first inspection service offering - saw rapid adoption in the B2B space as well.
Between its retail, wholesale and inspection services, the MFCWL enterprise participated in 1,50,000 used vehicle transactions.
The company is driven by its mission to transform the way used cars are retailed and has made several innovations along the way. The list of innovations include developing a unique franchisee based business model, selling certified multi-brand used cars under warranty and offering the most comprehensive warranty product available on used cars in the country, in addition to a differentiated consumer experience through launch of its ‘Highline’ stores for selling high-end multi-brand used cars.
About Mahindra First Choice Wheels
Mahindra First Choice Wheels Ltd. (MFCWL) is the country’s preferred used car mart and is India’s number one multi-brand certified used car player. The company plans to expand this number to 600 outlets over the next three years. This implies that customers will soon be able to choose from a range of certified used cars throughout India, including the metros and tier-2 towns and cities. MFCWL closed F-14 with sales of 57,000 used cars, at a CAGR of 40% over the last 5 years.
Tremendous attention to detail is required to ensure that each used car meets a high level of quality. Before purchasing the car, a trained engineer thoroughly inspects the vehicle and also sees to it that all papers are in order. After purchase, the car is refurbished and undergoes an extensive 118 point quality check by a trained engineer, as part of the company’s robust certification process. The objective behind the care and diligence exercised is to present the customer with a car in good condition.
In short, buying a used car from Mahindra First Choice offers several advantages, including quality assurance, safety and a hassle-free driving experience. To give complete peace of mind to the used car buyer, the company has Warranty products like WARRANTYFIRST, CERTIFIRST and CERTIFIRST+.
Subject to specific terms and conditions, WARRANTYFIRST provides Warranty for all the major mechanical and electrical components of the car. The concerned components are covered for a period of 12 months or 15,000 km, whichever is earlier. The CERTIFIRST Warranty covers the car’s Engine and Transmission for a period of 6 months or 7,500 Km, whichever is earlier while CERTIFIRST+ covers for a period of 12 months or 15000 kms, whichever is earlier.
The Warranty products come with the facility of 24X7 Roadside Assistance across the country. The 24x7 Roadside Assistance, subject to specific terms and conditions, assures the certified used car buyer that should the car breakdown, he will be provided assistance.
The Warranty product gives tremendous peace of mind to buyers of certified used cars. Mahindra First Choice has a website - www.mahindrafirstchoice.com - which provides complete assistance to customers wishing to buy or sell a car. Mahindra First Choice also has retail finance relationships with major banks like Mahindra Finance, HDFC, Kotak Mahindra and ICICI Bank for helping consumers buy their dream cars through loans.
Mahindra First Choice Wheels Ltd. also has a significant presence in the online space. Through its ‘Autobid’ auction platform it has sold more than 1.5 lakh vehicles till date.
The company has also launched a new product, the Indian Blue Book (IBB) which is the most comprehensive unbiased resource for consumers and dealers to determine the value of their used cars.
A new product for car evaluation by the name of ‘Autoinspekt’ has also been launched. This is based on the famed 118 point check list for car evaluation.
About Mahindra
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.7 billion multinational group based in Mumbai, India, Mahindra employs more than 180,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. In 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category.
Visit us at www.mahindra.com
For further enquiries
Ruzbeh Irani
Chief Group Communications and Ethics Officer
and Member of the Group Executive Board
Mahindra Group
Phone: +91 22 2490 1441
Email: group.communications@mahindra.com
Admin: SubmitPressRelease
No comments