Mahindra First Choice inaugurates dealership in Delhi
Feb, 2014: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today expanded its footprint in North India with the inauguration of a dealership in Delhi with Sachdeva Motors is located at Motinagar, New Delhi and is spread over 2000sq.ft, at a prime location.
India’s No.1 multi-brand certified used car company, Mahindra First Choice Wheels Ltd. (MFCWL), has a network of 335 franchise outlets spread across 191 + towns in the country which includes metros, mini metros and smaller towns. The company is growing at a scorching 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 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) 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
This outlet adds to the existing footprint in Delhi NCR with 32 outlets and would close the year with 35 outlets, Selling extensive array of car brands. The store was inaugurated by Mr. Tarun Nagar, National Head, Franchisee Business, Mahindra First Choice Wheels Limited.
“This new outlet adds to our already significant presence in North India which is a strategic market for Mahindra First Choice Wheels. The size of the used car market in the city is 30000 cars per month and this number is set to grow manifold. Today’s showroom is the 2nd outlet by the dealer after Lajpatnagar, showing the viability of the business model. With its extensive knowledge of the local market, Sachdeva Motors will help grow the Mahindra brand further,” said Tarun Nagar, National Head, Franchisee Business, Mahindra First Choice Wheels Limited.
“We currently operate in South Delhi, Lajpat nagar and this outlet shall help us to improve the customer base in one of the major pocket in Central Delhi and are delighted to be associated with Mahindra First Choice Wheels in Delhi. MFCWL has all the required products for a complete Used car business, Their unwavering focus on innovation and dealer profitability has resulted in the company emerging as the brand of choice across India,” said Mr. Hemant Sachdeva, Sachdeva Motors
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. MFCWL 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.
The used car market, with an estimated size of 3 million units plus, is already bigger than than the new car market and is growing at a much faster pace as compared to 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.
As the dominant player in the multi-brand used car space in the country, Mahindra First Choice is well placed to ride on the growth opportunity that the country presents. Mahindra First Choice Wheels is investing in continuously innovating the used car retail experience, empowering the consumer with information, products and services that enable a safe, confident and pleasurable transaction while enabling the dealer to grow profitably with its brand, process, technology and support on the ground.
A series of product introductions hilghlight these innovations – CertiFirst, WarrantyFirst, Indian Blue Book (www.indianbluebook.com) and Autoinspekt (www.autoinspekt.com). These products specifically enable the consumer to proceed with the best pricing and vehicle condition information while providing confidence that the company is standing behind the used car being purchased.
MFCWL is planning to grow on the back of this innovation agenda.
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 500 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-13 with sales of 46,000 used cars, which is 35% 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 24×7 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 dealersto 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.
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