Opens Biggest Pre Owned Vehicle Showroom in Delhi
Mahindra First Choice Wheels Limited (MFCWL) opens the largest showroom for pre-owned vehicles in the country at the Wazirpur Industrial Area in New Delhi in June 2017. The Mahindra Group will be retailing commercial vehicles, passenger cars and premium two-wheelers from this showroom. And these used car products and services as a part of the Mahindra Group to be retailed like this is the first in the industry. This new showroom covers about 7000 sq ft of surface area and is divided among three stories. All products retailed from this showroom will be offering the Mahindra First Choice Wheels warranty and certification.
BIGGEST PRE-OWNED VEHICLE SHOWROOM IN DELHI
This pre-owned chain of used cars would include – passenger cars, electric vehicles, utility vehicles, commercial vehicles and high end two wheelers. According to the Group President- HR and Corporate Services & CEO- After Market, Mahindra Group, Rajeev Dubey, MFCWL is establishing itself as a market leader among the multi-brand used cars.
The industry in FY17 has been estimated at 3.3 million. This is no surprise because every third car owner in India has used a Mahindra once in his/her lifetime. Mahindra cars are not only comfortable and hardy but are so aptly compatible with Indian roads. It seems like it is almost made exclusively for the Indian crowd and amazingly fits big fat Indian families well.
A number of Mahindra cars have gained too much popularity for their comfort and ease of use in the recent years. Hence Mahindra is a known name. In fact, MFCWL has expanded its potential market and portfolio mainly by dealing in commercial vehicles (annual market size approximately 1 million annually) and two wheelers (annual market size approximately 12 million).
The CEO & Managing Director at Mahindra First Choice Wheels, Dr Nagendra Palle, said that their goal is to set up and link the used vehicle ecosystem with a trusted and powerful brand. And this connection should be a strong one for it is backed by technology-driven services, products and operations provided by the Mahindra Group. This will eventually help in organising an industry which is majorly dwelling in chaos.
Mahindra First Choice Wheels Limited offers warranty and certification to products belonging to all vehicle categories. The company’s main focus for the two wheelers remain on the 250 cc and above category or the premium segment. The two wheeler segment is to be dealt with as a lucrative business in various other cities as well. So the work is gradually progressing. The Delhi showroom of Mahindra First Choice Wheels Limited is set up in partnership with the Indraprastha Group. 60% of the showroom’s customers are first time buyers of vehicles.
Two more two wheeler outlets are expected to be set up in Mumbai and Bangalore soon and the price range of motorcycles offered to customers will be between INR 1-7 lakhs according to Dr Palle. There should be 52 checkpoints for two wheelers and 118 checkpoints for four wheelers. MFCWL currently has over 1, 255 outlets in close to 700 towns across India and is targeting the opening of 50 more outlets in the near future. It has 37 outlets in the NCR alone. There are thus big hopes with the MFCWL and it has already witnessed a growth of 200% on a year-over-year basis.
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