Mahindra First Choice Wheels chooses Kolkata for 401st authorized
dealership
All India
network now at 465 dealers ; operationalised 19 outlets on 1st Jan
2015; company aims to close FY15 with 120 outlets in East
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 465 franchise outlets spread across 265 locations in the country which includes metros,
mini metros and smaller towns. The company is growing at a rapid pace with a
CAGR of 35% by volumes over the last 5 years.The cumulative retail footprint
under the Mahindra First Choice brand is close to 1
million sq feet
·
The company has created a unique
(first globally) franchisee driven business model and is on a mission to
transform the way used cars are retailed in the country. It is 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 in excess of 1.5 lakh vehicles through the ‘eDiig’ auction
platform (www.ediig.in)
·
The company has recently launched a
new product called the Indian Blue Book (IBB) URL: 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 most leading
banks and NBFCs, car portals, auto magazines, auto OEMs, dealers and customers
subscribing to it
·
A new product for car evaluation
called ‘Autoinspekt’ (www.autoinspekt.com)
has been launched. Autoinspekt is an unbiased third party vehicle evaluation
report to determine the condition, quality and value of a used vehicle. The
report itself covers 53 parameters across 8 vehicle systems of the car and is
prepared after physical inspection of the vehicle by a trained engineer. The
company has delivered over 1 lakh inspections to date
Kolkata: Mahindra First Choice Wheels Ltd.
(MFCWL), India’s No. 1 multi-brand certified used car company, has
chosen Kolkata for the inauguration of its 401st authorised
dealership. This is the company’s 6th outlet in the city with two
more on the anvil. MFCWL’s network size in the East encompasses 104 dealerships
and the company hopes to expand this to 120 by year end.
The new outlet, Mukesh Automotives,
is spread across 40000 sq. ft and is located at 1086/1, Madurdah, Kalikapur. It
was inaugurated by Dr. Nagendra Palle, CEO, Mahindra First Choice Wheels Ltd.
Yatin Chadha, Senior Vice President -
Mahindra First Choice Wheels Ltd. was also present.
“Today
is a very significant day for the entire Mahindra First Choice Wheels family as
we inaugurate our 401st outlet in the City of Joy. This is our 16th
outlet in West Bengal which is a strategic market for the company and this new
showroom will help us further tap the growing demand in the region.
We
are experiencing excellent demand across India, not only from tier 1 cities but
from C and D category towns as well. In fact, on January 1 we inaugurated
outlets in 19 D category towns, with ten located in the East alone. A large
part of this success is due to the faith reposed in us by our dealers, many of
whom are new car dealers seeking to leverage the growth in the used car market.
This also has a positive effect on our customers who benefit from the high
levels of service they bring to the industry. We are also in the process of
establishing new retail formats for delivery of our technology enabled products
to the consumer,” said Dr. Palle.
“Over
the past seven years, Mahindra First Choice Wheels has not only emerged as
India’s leading used car company but has also contributed to the creation of a
used car ecosystem by bridging wholesale and retail channels while leveraging
physical and online infrastructure. In fact, we are best positioned in the
industry to offer the ‘Brick & Click’ model. In the recent past, we have
also diversified into the mini CV space with 34 outlets offering customers in
rural and urban India a choice of mini CVs for personal and professional use.”
said Yatin Chadha, Senior
Vice President, Mahindra First Choice Wheels.
“We
are honoured to be the 401st Mahindra First Choice Wheels dealership
in India. Customers in Kolkata who wish to either buy or sell a used car can
avail of an entire range of services, including car finance, insurance, fitment
of car accessories and assistance with paperwork and documentation,” said Nitin Himatsingka, Mukesh Automotives.
The company’s footprint in West
Bengal currently encompasses 20 dealerships and it further plans to expand this
number to 16 outlets by year end. Key focus areas include Kolkata, Purulai,
Durgapur, Sikkim, Patna, Bagha, Jhanabad, Oddisa , Mizoram, Agartala, Haflong ,
Arunachal & Guwahati.
From its humble beginnings in 2007
when its first franchisee outlet was established, MFCWL has achieved a dominant
status in retailing of multi-brand used cars in the country. 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.
In keeping with its aim to empower
the entire used vehicle ecosystem with technology, MFCWL has also developed a variety of products which use
technology to ease used vehicle operations. These products are smart, simple,
standalone tools that solve many challenges for every kind of customer
including Consumers, Dealers, Financiers, Leasing companies and Manufacturers.
7 new
innovative online products for the Industry and
consumers
Ø IBB Trade (www.ibbtrade.com):The
simplest way to trade in your car. Get the best value for your car, when
multiple dealers compete for your trade-in or sale, which means you'll receive
real-time offers in a matter of 24 hrs. Just a refreshingly efficient way to
get actual dealer offers on your trade-in.
Ø IBB Tractor (www.ibbtractor.com): India
first and largest pricing portal for used tractors. 21 manufacturers, 291
models covered from the year 2000. Trade-in Price, Private Price, Retail Price
& CPO Price are provided for various set conditions of tractor like
excellent, good, average and poor.
Ø IBB Residual (www.ibbresiduals.com): IBB's
Residual Value Tracker forecasts prices up to 5 years from the current date and
provides market analysis for all passenger cars. It gives you the tools you
need to make well informed and more accurate decisions when buying or disposing
of your vehicles.
Ø IBB VinCheck (www.ibbvincheck.com):The easiest way to check and identify the make, model, year and month of
manufacture of a car. This is used for buying and selling or simply research.
Ø TAPP (www.testridez.com)- The test drive application is both web and mobile based. It is used to
feed car dealers with test drive leads generated from the test drive website
and various LMS programs
Ø YMS – Our Yard Management Services supports
clients in their vehicle life cycle management from repossession to disposal
through various technological interventions to restrict theft and missing parts
and also manage the condition of the vehicles in the yard.
Ø Can DO - A mobile
based software for used vehicle inspections, which enables the field executives
to inspect and evaluate the vehicles by themselves. The Can DO platform is used
for inspecting all 2W, 3W, CV, FE and 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 1000 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, which is 30% growth over the last
financial year.
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) (www.indianbluebook.com), 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 called ‘Autoinspekt’
(www.autoinspekt.com) has been launched. Autoinspekt is an unbiased third
party vehicle evaluation report to determine the condition, quality and value
of a used vehicle. The report itself covers 53 parameters across 8 vehicle
systems of the car and is prepared after physical inspection of the vehicle by
a trained engineer.
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 16.5 billion multinational
group based in Mumbai, India, Mahindra employs more than 200,000 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, financial services and
vacation
ownership. In addition,
Mahindra enjoys a strong presence in the agribusiness, aerospace,
components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2014, Mahindra featured on the
Forbes Global 2000, a comprehensive listing of the world’s largest, most
powerful public companies, as measured by revenue, profit, assets and market
value. The Mahindra Group also received the Financial Times ‘Boldness in
Business’ Award in the ‘Emerging Markets’ category in 2013.
