Mahindra First Choice Wheels inaugurates two authorized dealerships in Bengaluru
Bengaluru network now at 7 dealerships; Karnataka footprint at 16 dealerships
Mahindra First Choice Wheels Ltd. USPs
- India’s No.1 multi-brand certified used car company, Mahindra First Choice Wheels Ltd. (MFCWL), has a network of 507 franchise outlets spread across 276 locations 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 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 more than 1.5 lakh vehicles through the ‘eDiig’ auction platform (www.ediig.in)
- The company has just 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 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’ (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
May 28, 2015, Bengaluru: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today expanded its presence in South India with the inauguration of two authorized dealerships – Superior Motors and Sulak Cars – in Bengaluru. The company now has a network of 7 dealerships in Bengaluru and 16 in Karnataka. Both outlets were inaugurated by Dr. Nagendra Palle, Managing Director, Mahindra First Choice Wheels Ltd.
Bengaluru is a strategic market for Mahindra First Choice Wheels and I am sure that our association with Superior Motors and Sulak Cars will help us make further inroads in the market. At Mahindra First Choice Wheels, we are witnessing a transformational change in the way we operate. With a vision to create a used car ecosystem, we are enhancing and leveraging our physical and online presence and are best positioned in the auto industry to deliver a Brick and Click synergy interface for a unique customer experience. Our strong franchisee network also has a key role to play in our growth, said Dr. Palle.
We already have a strong presence in the South and we are delighted to further expand our network in the region with the inauguration of two outlets. Their expertise and knowledge of the local auto market coupled with our innovative and industry first products and services will enable us to increase our customer base in the region. This is our 7th outlet in Bangalore and we look forward to expanding our strong franchisee network further, said Mr. Yatin Chadha, Sr. Vice President-Retail, Mahindra First Choice Wheels Ltd.
We are delighted to be associated with Mahindra First Choice Wheels which is India’s pre-eminent used car brand. The used car market in Bengaluru is growing at a rapid pace and Mahindra First Choice Wheels, with its strong value proposition of trust, credibility and exceptional service is well poised to tap into this growth. The company’s consistent focus on innovative products and services will also find favour with customers here, said Vivek Gupta, Dealer Principal, Superior Motors.
Sulak Cars is proud to partner with Mahindra First Choice Wheels which already enjoys strong brand recall in Bengaluru. We will offer customers a range of services including car finance, insurance, fitment of car accessories and assistance with paperwork and documentation, said Magesh Kumar &Tony Raj, Managing Partners, Sulak Cars.
With the inauguration of these two dealerships, the company’s footprint in Karnataka currently stands at 16 dealerships and it further plans to expand this number to 30 outlets by year end. Key focus areas include Mangalore, Mysore, Hubli, Belgaum, 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.
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 its network to 500 outlets over the next two 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.
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 24x7 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) (www.indianbluebook.com), which is the most comprehensive unbiased resource for consumers and dealers to determine the value of their used cars.
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 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 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 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.
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