Mahindra First Choice Wheels inaugurates 1st authorized dealership in Hooghly, West Bengal
West Bengal network now at 33 outlets
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 600 outlets spread across 280 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 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
October 16, 2015, Hooghly, West Bengal: Mahindra First Choice Wheels Ltd. (MFCWL), India's No. 1 multi-brand certified used car company, today inaugurated its first outlet in Hooghly, West Bengal. The new outlet, Car Palace is spread across 1500 sq. ft and is located at Dasghara, Hooghly. It was inaugurated by Mr.Sabyasachi Das, Zonal Manager-East, Mahindra First Choice Wheels Ltd. This is the company’s 33rd outlet in West Bengal.
"We are delighted to partner with Car Palace which is an established name in Dasghara. Their expertise and knowledge of the local 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 first outlet in Hooghly and we look forward to expanding our strong franchisee network further," said Mr. Sabyasachi Das.
"Mahindra First Choice Wheels enjoys strong brand equity in West Bengal as India's pre-eminent multi-brand used car company. Car Palace will serve as a one-stop shop, offering customers 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.Sadek Mallick, Car Palace
According to Mr. Brian Denker, Vice President & Global Head of Growth, Innovation and Leadership, Frost & Sullivan, "A leader knows he has been triumphant when he has created an enterprise which continues to steadily grow and expand beyond the many disruptive and complex forces and transformational change happening around it. For more than 48 years, Keshub Mahindra has inspired an enterprise with a continued focus toward identifying growth opportunities through new ideas and inspirational innovations that has placed Mahindra's multi-national group on the map in today’s global marketplace and one that is committed to "enabling people to rise".
Mahindra First Choice Wheels' footprint in the East currently encompasses 142 dealerships and it further plans to expand this number to 170 outlets by year end. Key focus areas include Barddhaman, Mednipur, Nadia, etc.
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.The company is driven by its mission to transform the way used cars are retailed and has introduced several innovations along the way.The company has received an excellent response from B&C category towns as well and is planning to close FY16 with 700 outlets
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.
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) 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-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 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 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.
Visit us at www.mahindra.com
For further enquiries please contact:
General Manager - Group Communications
Mahindra and Mahindra Ltd.
Mahindra Towers, Worli,
Mumbai - 400018
Mobile: +91 98230 93000
Other Key Releases
Nick Heidfeld opens the Formula E season with a podium finish at the Hong Kong ePrix.
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.