Mahindra First Choice Wheels inaugurates 2nd authorized dealership in Calicut, Kerala
Mahindra First Choice Wheels Ltd. – USPs
- India’s No.1 multi-brand certified used car company, Mahindra First Choice Wheels Ltd. (MFCWL), (www.mahindrafirstchoice.com) has a network of 507 outlets spread across 276 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 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 25, 2015, Calicut, Kerala: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today inaugurated its second outlet in Calicut, Kerala. The new outlet, Marikar Pre Owned Cars is spread across 6000 sq. ft and is located at Kannur Road, Puthiyangadi PO, Calicut. It was inaugurated by Tarun Nagar, National Head - Operations, Mahindra First Choice Wheels Ltd. This is the company’s 29th outlet in Kerala.
We are delighted to partner with Marikar group which is an established name in Calicut. 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 second outlet in Calicut and we look forward to expanding our strong franchisee network further, said Mr. Nagar.
Mahindra First Choice Wheels enjoys strong brand equity in Calicut as India’s pre-eminent multi-brand used car company. Marika Motors 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 Zulfikar Marikar, Managing Director, Marikar Group.
The origins of the Marikar Group can be traced back to 1926 when it was established as a simple trading house by H.O.L. Marikar and today, it is one of the most successful and trusted business houses in South India. Spread across Kerala and Tamil Nadu, the Group today has eighteen sales points and eighteen service points. The company has been in the automotive dealership business for over 8 decades. The Group is professionally managed and has a chain of Sales and Service outlets for Skoda Auto India, Fiat Group Automobiles, Nissan Motors, Hindustan Motors, Royal Enfield Motors, Honda (HMSI) and Piaggio (Vespa) spread across Kerala and southern Tamil Nadu. It is also involved in the distribution of automobile spares, accessories and lubricants throughout this territory.
Mahindra First Choice Wheels’ footprint in the South currently encompasses 90 dealerships and it further plans to expand this number to 150 outlets by year end. Key focus areas include Kannur, Kasargode, Wayanad, 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. 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 introduced 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.
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.
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 intractors,utility vehicles,information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in theagribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics,real estate, retail, steel, commercial vehicles andtwo 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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