All India network at 700 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 700 outlets spread across 300 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
December 21, 2015, Mumbai: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, today inaugurated its 25th outlet in Mumbai. This is the company’s 85th dealership in the state and 700th in the country
The new outlet, Prosperous Wheels, is spread across 1000 sq. ft and is located at New Link Road, Adarsh Nagar, Andheri(W) Mumbai. It was inaugurated by Mr. Rajeev Dubey, President (Group HR Corporate services and After Market) Member of Group Executive Board, Mahindra & Mahindra Ltd.
“Mumbai is a strategic market for Mahindra First Choice Wheels and our association with Prosperous Wheels will help us make further inroads in the market. We are creating a transformational change in the way we provide value to our stakeholders. To create a vibrant 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. We are confident of creating value for all our stakeholders across the value chain through innovative and industry-first products and services. Our strong franchisee network has a pivotal role to play in this endevour,” said Mr.Dubey 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 car ecosystem by bridging wholesale and retail channels while leveraging physical and online infrastructure. Consumer experience is the key in this space” said Tarun Nagar, Vice President-Retail business, MFCWL
“Mahindra First Choice Wheels is already an established brand name in the country. Prosperous Wheels will offer the entire range of services for customers, including purchase and sale of 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 a used car,” said Mrs. Madhu Goyal, Director-Prosperous Wheels.
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 company’s footprint is currently encompasses 700 dealerships and it further plans to expand this number to 1000 outlets in next Fiscal. Rural India focus and the start up of Used Commercial vehicle business will add up the network further.
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 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.
