With the used car industry increasing by leaps and bounds, Mahindra First Choice aspires to give people what they desire. They plan to augment their reach with advanced technology and provision of quality services on their cars so as to drive the growth agenda even further. The company registered growth of 35% in the last financial year.
The pre owned car market is growing rapidly at a rate of 30% with multi brand outlets contributing over 15%. Holding time of new cars has come down due to which the second hand car market is gaining in importance. In the past one year. Mahindra First Choice sold a total of 56,000 cars and 55,000 units online.
A single Mahindra First Choice used car outlet entails an investment of INR 30 lakhs and takes about 12 months for break even time. The bay size of each station varies from 8 to 15 bays while as on date each service station receives around 100,000 repair orders which could increase to 300,000 in the next one year. Maruti First Choice is currently in third position in the pre owned car market with Maruti Suzuki and Tata Motors being in top two spots.
Source Business Standard