Mahindra First
Choice Wheels inaugurates 1st authorized dealership in Howrah, West Bengal.
All India network at 507 outlets , with Howrah outlet we are 24
outlets in Bengal
Mahindra
First Choice Wheels Ltd. – USPs
·
India’s No.1 multi-brand certified
used car company, Mahindra First Choice Wheels Ltd. (MFCWL), (www.mahindrafirstchoice.com) has
a network of 507 outlets spread across 275 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 in excess of 8.5 lakh 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
Mahindra
First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car
company, today inaugurated its first outlet
in Howrah near Kolkata. The new outlet, Mohan Motor is spread across 5000 sq.
ft and is located at NH-6 Salap, Lalbari, Libra, Howrah opposite Eastern Honda.
It was inaugurated by Yatin Chadha, Senior Vice President, Mahindra First Choice
Wheels Ltd. and Amresh Khar, Zonal Head – East, Mahindra First Choice Wheels
Ltd. were also present at the inauguration.
“We are delighted to foray into Howrah,
West Bengal with our very first dealership. As a rapidly growing industrial
area, Howrah is of strategic importance to us and we look forward to serving
our customers here with innovative
and industry-first products and
services and our unique ‘brick and click’ model. Our strong franchisee network
will also play an important role in helping us to fulfill this goal,” said Mr. Chadha,
Senior Vice President, Mahindra First Choice
Wheels at the
inauguration.
“Mahindra First Choice Wheels is
already well entrenched in West Bengal and Mohan Motors will serve as a one-stop shop
for used car customers in Salap, Howrah, offering a range of services 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. Pradeep
Bajaj , Managing Director of Mohan Motors.
The company’s footprint in the East
Zone currently encompasses 117
dealerships and it further plans to expand this number to 150 outlets by year end. Key focus areas include Kolkata, Howrah,
Durgapur, Asansol, Coochbihar, Sikkim, Oddisa, Bihar, North East locations.
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.
MFCWL has recently launched 5
Commercial Outlets in Bengal & 12 outlets in East Zone, this helps
customers to get even used CV for fleet , transportation customers. The
products are also offered with certification and Suraksha First Warranty.
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.
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.
MFCWL has also developed a variety of industry first
products which use technology to ease used vehicle operations. The company has
recently launched seven innovative products which are smart, simple, standalone
tools that solve many challenges for every kind of stakeholder including consumers,
dealers, financiers, leasing companies and manufacturers.
The used car market, with an estimated size of 3.2
million units, is already larger than the new car market
and is growing faster than the new car market. The
current slowdown notwithstanding, it is expected that the
used car market will become almost double the size
of the new car market in the next 5 years.
About Mahindra First Choice Wheels
Mahindra
First Choice Wheels Ltd. (MFCWL) (www.mahindrafirstchoice.com) 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. The company also provides value added services
including but limited to third party inspections (www.autoinspekt.com)
and pricing guides (www.indianbluebook.com)
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.
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