Mahindra First Choice Wheels in Partnership with Wipro Ltd. Introduces Konnect First
India's 1st Connected Car Solution for Multi-brand Pre-owned Cars
Mumbai, December 18, 2017: Mahindra First Choice Wheels Ltd. (MFCWL:mahindrafirstchoice.com), India's No. 1 multi-brand certified used car company, in yet another first for the pre-owned car market has launched Konnect First – a connected car device designed to upgrade your car into a Smart Car. Conceptualised by MFCWL, the device has been developed by Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company. Konnect First will be available at more than 1500 MFCWL franchise outlets across 700+ cities through the country.
Konnect First, an intelligent connected drive solution, enables the car owner to interact with the vehicle and stay connected to it via a mobile app, available on both iOS and Android platforms. With several class-leading features, it offers the car owner a comprehensive package of safety, loss prevention, utility, maintenance and driving analytics in one seamless interface, thus providing complete peace of mind when it comes to the well-being of the car and its owner. The sleek device is compatible with 200+ car variants across brands and can be easily plugged into the car’s OBD port to allow the driver access to a suite of additional functions.
"he automotive industry is at the cusp of a revolution with new technologies changing the way we drive. We see no reason why a pre-owned car owner should not have access to these. Mahindra First Choice Wheels is focused on bringing in the latest technologies through innovative solutions for pre-owned car owners in order to make the ownership and driving experience as enjoyable and satisfying as that of a new car owner. We are happy to have Wipro partner us in this endeavour," said Dr. Nagendra Palle, MD & CEO, Mahindra First Choice Wheels Ltd.
"echnology-driven innovations are helping the automotive industry create disruptive and differentiated customer experiences, and engender a whole new value ecosystem. Wipro is delighted to have partnered with Mahindra First Choice Wheels Limited in their connected car endeavour, aimed at providing seamless driving experiences for their customers. Powered by IoT telematics, analytics and the end user’s mobile/web applications and voice interfaces, Wipro’s AutoInsights platform forms the backbone of the Konnect First solution," said Sreenath A V, Senior Vice President, India Business Unit, Wipro Limited.
Konnect First offers several industry first features in one seamless package.
Safety: Instant Location sharing, Real-time vehicle tracking, Roadside Assistance, Risk Cluster, SOS Alerts.
Security and Loss Prevention: Tow alerts, Break-in Protection, Valet Protect and Fatigue Driving Alerts.
Maintenance: Battery Voltage, Engine Coolant and Vehicle Health Monitoring alerts.
Utility Features: Vehicle Insights, Trip Listing & Analytics, Dynamic Leaderboard, Driving Summary, Driving Profile Analytics, Document Wallet.
Konnect First priced at INR 7,999 comes with a complimentary 1 year app subscription. It also offers a 1-year warranty and after-market customer support.
F17 was a pivotal year for MFCWL. The company extended its leadership position in the used car industry with a strong performance in all areas of the business. The company reported an 80% growth in transaction revenues and over 200% growth in its technology enabled businesses. With these technology enabled solutions, MFCWL is focused on enabling its customers (institutional clients, dealers and consumers) to achieve high levels of transparency and efficiency in a sector otherwise largely unorganised in nature.
The company’s unique hybrid business model "on the ground" and "in the cloud" has also been acknowledged by external investors. The company has raised funding from Silicon Valley based Hedge Fund, Valiant Capital and Cox Automotive, a $17 Billion US based enterprise providing digital marketing, classifieds, software, wholesale and eCommerce solutions to dealers, consumers, manufacturers and financial institutions. Its brands include Manheim®, Autotrader®, Kelley Blue Book®, Dealertrack®, vAuto®, Xtime®.
MFCWL received the "National Retailer of the Year" award for 2017 from Franchise India where it competed with franchisors across all retail sectors.
About Mahindra First Choice Wheels
Mahindra First Choice Wheels is a dominant player in the Indian used vehicle eco system providing products and services to cater to the needs of retail and wholesale customers utilizing its "on-the-ground" and "in-the-cloud" capabilities.
The company's business model is based on 4 key building blocks:
Vehicle retail – Under the "Mahindra First Choice" brand name 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. The company has a network of 1500+ outlets spread across 700+ cities, which include metros, mini metros and smaller towns. The cumulative retail footprint under the Mahindra First Choice brand is over a million sq feet. (www.mahindrafirstchoice.com)
Vehicle auctions – The company is the market leader in the online auction space, having sold in excess of 3 lakh vehicles through the 'eDiig' auction platform (www.ediig.com). eDiig is a classic wholesale marketplace where multiple sellers and buyers compete in a transparent online environment. With over 20,000 registered buyers and sellers, eDiig aims to leverage its 'True time bids' solution, to seamlessly bridge the requirements of offline and online participants, thus enabling transparency and superior vehicle price discovery. eDiig Auctions take place across 1000 locations in India and over 85000 vehicles were sold through its platform in FY 17. With its mobile auction application eDiig. Now, the company will provide buyers on-the-go auction and bidding services.
All these have made eDiig, India's most trusted Automobile Exchange Platform.
Vehicle inspections – Autoinspekt is a comprehensive used vehicle inspection and valuation service for lenders, dealers, OEMs and consumers. By combining the use of technology and assurance of physical inspection, Autoinspekt has built capabilities to service inspection and valuation needs across categories and purposes. (www.autoinspekt.com)
Vehicle pricing - Access to used car transactions data across retail and wholesale channels gave the company an opportunity to develop the IndianBlueBook.com, which is also referred to as IBB. Having started out as a used car pricing widget, Indianbluebook.com has transformed into a full-fledged online research platform for customers to buy and sell their car. (www.indianbluebook.com)
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
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Mahindra & Mahindra Ltd.
Mobile: +91 9769212078
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