Mahindra First Choice Wheels Inaugurates First Multi-brand Commercial Vehicle Dealership in South
All India Network now at 705 outlets
February 12, 2016, Shimoga: Mahindra First Choice Wheels Ltd. (MFCWL), India's No. 1 multi-brand certified used car company, today inaugurated its first commercial vehicle outlet in Shimoga. This is the company's 130th dealership in the zone and 705th in the country.
The new outlet, Tristar India Trading and Services Pvt Ltd, is spread across 9000 sq. ft and is located near New Mandli Circle, N.T.Road, Shimoga-577202. It was inaugurated by Dr. Nagendra Palle, MD & CEO Mahindra First Choice Wheels Ltd.
"We are delighted to expand our rapidly growing network in Karnataka with the inauguration of this new dealership in Shimoga. This is the company's first franchisee for multi-brand commercial vehicle. This is a new step for creating a space in used commercial vehicle segment along with our used car ecosystem. We are enhancing and leveraging our physical and online presence and are best positioned in the pre-owned car industry to deliver a "Brick and Click" synergy interface for a unique customer experience. South India is a strategic market for Mahindra First Choice Wheels and we look forward to creating value for all our stakeholders across the value chain through innovative and industry-first products and services. Our strong franchisee network will also play an important role in helping us fulfill this goal," said Dr. Nagendar Palle at the inauguration.
"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 vehicle ecosystem by bridging the wholesale and retail channels while leveraging physical and online infrastructure. Now we have entered the used multi-brand commercial vehicle for creating a better consumer experience in this space," said Tarun Nagar, Vice President-Retail business, MFCWL.
"Mahindra First Choice Wheels is already an established brand name in the country. Tristar India Trading and Services Pvt Ltd. will offer the entire range of services for customers, including purchase and sale of multi-brand used commercial vehicle, 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 used commercial or passenger vehicles," said Mr. Ashik Basha, MD- Tristar India Trading and services Pvt Ltd.
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.
From humble beginnings in 2007 when its first franchisee outlet was established, MFCWL has achieved a dominant status in retailing of multi-brand used cars across the country. The company’s footprints currently encompass 705 dealerships and it plans to expand this number to 1000 outlets in next fiscal year. 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.
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 705 outlets spread across 325 locations in the country which includes metros, mini metros and smaller towns. The company has been growing at a rapid pace with a CAGR of 35% by volume over the last 5 years.The cumulative retail footprint under Mahindra First Choice brand is in excess of 8.5 lakh sq feet
- The company has created a unique franchisee driven business model, which is globally the first of its kind, and is on a mission to transform the way used cars are retailed in the country. It was 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 3 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
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 this number to 1000 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-15 with sales of 69,000 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 Assure First offers buy back gaurentee, money back for 5 day and exchange in 15 days.
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.
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 16.9 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 vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. 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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