Mahindra First Choice Wheels Ltd. – USPs
Jaipur, February 28, 2020: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today added two new outlets in the Jaipur area to its network:
"We are delighted to welcome our two new dealer partners to the Mahindra First Choice Wheels family. Jaipur has great potential for preowned cars and we hope to include more dealerships in this ecosystem to create and develop an organized aftermarket. We want to capture a significant market share in the growing used vehicle segment,” said Mr. V S Parthasarathy, Group CFO, Group CIO & Member of the Group Executive Board, Mahindra & Mahindra Ltd., at the inauguration.
"The used car market has seen a steady growth in the past year. We feel that the advantage of pricing that used car buyers get over a new car has made it a great option for many first time car buyers who are increasingly attracted toward buying used cars,” said Mr. Ashutosh Pandey, MD & CEO, Mahindra First Choice Wheels Ltd., at the inauguration
Over the 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 including 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 India.
The used car market in India is expected to reach between 6.7 to 7.2 million cars per year by FY-2022. The current slowdown notwithstanding, it is expected that the used car market will be almost double the size of the new car market within the next 5 years.
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 has raised funding from Silicon Valley based Hedge Fund, Valiant Capital and Cox Automotive, a $17 Billion US based enterprise.
For further enquiries please contact:
DGM, Group Communications
Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 24917040