Mahindra First Choice Wheels inaugurates first workshop in Boisar
All India network at 500 outlets
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 500 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
April 14, 2015, Mumbai: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today inaugurated its first outlet in Boisar near Mumbai. The new outlet, Angel Auto World is spread across 2700 sq. ft and is located at Durga Building, Opp. Mamta Furniture, Boisar Navapur Road, Boisar (West), Palghar. It was inaugurated by Yatin Chadha, Senior Vice President, Mahindra First Choice Wheels Ltd. Suraj Kumar, National Head, Business Development and Sunil Nayak, Zonal Head – West, Mahindra First Choice Wheels Ltd. were also present at the inauguration.
We are delighted to foray into Boisar with our very first dealership. As a rapidly growing industrial area, Boisar 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 Maharashtra and Angel Auto World will serve as a one-stop shop for used car customers in Boisar, 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. Rakesh Seth &Mr. Hemant Dave of Angel Auto World.
The company’s footprint in the West currently encompasses 117 dealerships and it further plans to expand this number to 200 outlets by year end. Key focus areas include Mumbai, Gujarat, Konkan &West Maharashtra.
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.
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 marketand 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)
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 tractorsutility vehiclesinformation 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.
Visit us at www.mahindra.com
For further information please contact:
Chief Brand, Communications and Ethics Officer (Mahindra Group) and
Member of the Group Executive Board
Phone: +91 22 2490 1441
Other Key Releases
Our Formula E Racing Team revealed the new livery for the mighty M3Electro, which was designed by the winner of the team's unique online competition #DrivenByDesign.
Mahindra Racing, the only Indian constructor in World Championship racing, is making a habit of creating historic firsts. Our MGP3O motorcycle finished 1st AND 2nd in the rain-soaked Czech Republic Grand Prix!
Mahindra Defence Systems is partnering with Boeing to train the Indian Air Force on the mighty C-17 Globemaster.