Mahindra First Choice Wheels inaugurates 1st authorized dealership in Ara, Bihar

  • 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 amission to transform the way used cars are retailed in the country. It is also the winner of theprestigious Franchisor of the yearaward 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

May 07 , 2015, Ara: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today inaugurated its first outlet in Ara, Bihar. The new outlet, Jaisrimannarayan Udyog Pvt. Ltd., is spread across 8050 sq. ft and is located at Main Ara Buxar Road, Chandwa, Near Surya Mandir. It was inaugurated by Amresh Khar, Zonal Head, East Zone, Mahindra First Choice Wheels Ltd.

With 42 dealerships, Bihar is a strategic market for us and this new outlet will further expand our footprint and cater to local customers with innovative and industry-first products and services and our unique brick and click’ model. Our strong franchise network will also play an important role in helping us to fulfill this goal,said Mr. Khar.

We are delighted to be associated with Mahindra First Choice Wheels which is a well-respected name in the region. Our outlet will serve as a one-stop shop for all those wishing to buy or sell a used car and will offer a range of services including car finance, insurance, fitment of car accessories and assistance with paperwork and documentation,said Rajesh Tripathi and Himanshu Tripathi, Directors, Jaisrimannarayan Udyog Pvt. Ltd.

The company’s footprint in the East currently encompasses 42 dealerships and it further plans to expand this number to 60 outlets by year end. Key focus areas include Katihar, Saupal, Farbisgunj, Gaya, Kishangunj etc.

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 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)

The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

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 provides employment opportunities to over 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 vehiclesand 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 enquiries please contact:

Shubhada Dharwadkar,

DGM, Group Communications,

Mahindra & Mahindra Ltd.,

022-24917040 / +917738183486

Dharwadkar.shubhada@mahindra.com

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