Business News This Week
Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company has reached a new milestone with its pan India network comprising of 200 outlets.
“This is truly a Rise moment for the Company. Several years ago we had taken a bet on the fact that the used car market was bound to explode and took a conscious decision of setting up an independent multi-brand company, rather than linking our foray into the used car business to the OE business. This conviction in the business model has resulted in the company today achieving a significant milestone of 200 outlets,” said Mr. Anand Mahindra, Chairman and Managing Director, Mahindra Group.
“This is an important day for Mahindra First Choice Wheels. We have reached 200 outlets and are well on our way to achieving the target of 500 outlets by F-15. Since inception, MFCWL has worked with the basic belief that a second hand car buyer is not a second class buyer. We have designed our outlets, systems and processes keeping this basic customer truth in mind. We have grown at a CAGR of 40% over the last 5 years and even in the current year when the growth rate for new passenger vehicles is at 6%, we have grown by 30%,” said Mr. Rajeev Dubey President President (Group HR, Corporate Services & After Market) & Member of the Group Executive Board, Mahindra & Mahindra Ltd.
The used car industry often focuses only on the car transaction and not on the total experience of car-ownership. With its fresh look and feel, MFCWL hopes to change this perception and create a unique, aspirational experience for the used car consumer. The idea at MFCWL is to ensure that customers come in with trust and walk out with pride.
Mahindra First Choice Wheels is the country’s preferred used car mart and is India’s largest multi-brand player, with 200 outlets in over 100 towns across India. The company plans to expand this number to 500 outlets in 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.
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 and all this at a price which is far lower than the price of a brand new car, thus making it a great value for money deal.
To give complete peace of mind to the used car buyer, the company has recently launched two new Warranty products named WARRANTYFIRST and CERTIFIRST.
Subject to specific terms & conditions, WARRANTYFIRST provides Warranty for 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.
Both, WARRANTYFIRST and CERTIFIRST come with the facility of 24X7 Road side Assistance across the country. The 24x7 Road Side Assistance, subject to specific terms and conditions, assures assistance to customers in the event of car break-down.
The products WARRANTYFIRST and CERTIFIRST give tremendous peace of mind to buyers of Certified used cars.
Mahindra FirstChoice has launched its revamped website www.mahindrafirstchoice.com . This new website has been developed to provide complete assistance to customers intending to buy or sell a car. To help car buyers make an informed decision, the website also has tools like the Lifestyle recommend-er and total cost of ownership. It is also integrated with social networking tools like Facebook, Twitter and Youtube.
Mahindra First Choice also has retail finance relationships with major banks and NBFCs in the country. For helping car consumers buy their dream cars through loans, Mahindra First Choice has tie-ups with leading companies like HDFC Bank and Mahindra Finance.
MFCWL is also a market leader in the online vehicle auction space selling 1 vehicle every 4 minutes catering to 6 different vehicle segments across 890 locations Pan India.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A USD 15.4 billion multinational group based in Mumbai, India, Mahindra employs more than 144,000 people in over 100 countries. In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
www.mahindra.com
For further information, please contact
Atul Malikram
9827092823
“This is an important day for Mahindra First Choice Wheels. We have reached 200 outlets and are well on our way to achieving the target of 500 outlets by F-15. Since inception, MFCWL has worked with the basic belief that a second hand car buyer is not a second class buyer. We have designed our outlets, systems and processes keeping this basic customer truth in mind. We have grown at a CAGR of 40% over the last 5 years and even in the current year when the growth rate for new passenger vehicles is at 6%, we have grown by 30%,” said Mr. Rajeev Dubey President President (Group HR, Corporate Services & After Market) & Member of the Group Executive Board, Mahindra & Mahindra Ltd.
The used car industry often focuses only on the car transaction and not on the total experience of car-ownership. With its fresh look and feel, MFCWL hopes to change this perception and create a unique, aspirational experience for the used car consumer. The idea at MFCWL is to ensure that customers come in with trust and walk out with pride.
Mahindra First Choice Wheels is the country’s preferred used car mart and is India’s largest multi-brand player, with 200 outlets in over 100 towns across India. The company plans to expand this number to 500 outlets in 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.
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 and all this at a price which is far lower than the price of a brand new car, thus making it a great value for money deal.
To give complete peace of mind to the used car buyer, the company has recently launched two new Warranty products named WARRANTYFIRST and CERTIFIRST.
Subject to specific terms & conditions, WARRANTYFIRST provides Warranty for 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.
Both, WARRANTYFIRST and CERTIFIRST come with the facility of 24X7 Road side Assistance across the country. The 24x7 Road Side Assistance, subject to specific terms and conditions, assures assistance to customers in the event of car break-down.
The products WARRANTYFIRST and CERTIFIRST give tremendous peace of mind to buyers of Certified used cars.
Mahindra FirstChoice has launched its revamped website www.mahindrafirstchoice.com . This new website has been developed to provide complete assistance to customers intending to buy or sell a car. To help car buyers make an informed decision, the website also has tools like the Lifestyle recommend-er and total cost of ownership. It is also integrated with social networking tools like Facebook, Twitter and Youtube.
Mahindra First Choice also has retail finance relationships with major banks and NBFCs in the country. For helping car consumers buy their dream cars through loans, Mahindra First Choice has tie-ups with leading companies like HDFC Bank and Mahindra Finance.
MFCWL is also a market leader in the online vehicle auction space selling 1 vehicle every 4 minutes catering to 6 different vehicle segments across 890 locations Pan India.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A USD 15.4 billion multinational group based in Mumbai, India, Mahindra employs more than 144,000 people in over 100 countries. In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
www.mahindra.com
For further information, please contact
Atul Malikram
9827092823
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