“We are delighted to set up our very first dealership in Nanded which has a used car market size of 400 cars per month, indicating good potential for growth. And as a well established name in the region, SKM Automotives will help us tap this potential. We also have a rapidly growing footprint in Maharashtra with 54 dealerships in 20 cities and we plan to expand this number to 61 outlets by year end. Key focus towns include Kolhapur, Aurangabad, Jalgaon, Latur, Dhuliya, Ahemadnagar and Malegaon,” said Mr. Jha.
“Mahindra First Choice Wheels already enjoys strong brand equity in Maharashtra and we are pleased to launch the very first MFCWL dealership in Nanded. SKM Automotives 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 to all those wishing to purchase or sell a used car,” said Mr. Zaki, Proprietor, SKM Automotives.
FY 14 closed with 351 MFCWL outlets, a growth of 30% from FY13 across 208 towns in India. MFCWL B2B auction volumes increased over 50% with about 60 commercial sellers using the platform to sell vehicles to 10,000 wholesale buyers. MFCWL was part of 1,50,000 used vehicle transactions.