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 465 franchise outlets spread across 265 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 close to 1 million 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
January 8, 2015, Kolkata: Mahindra First Choice Wheels Ltd. (MFCWL), India’s No. 1 multi-brand certified used car company, has chosen Kolkata for the inauguration of its 401st authorised dealership. This is the company’s 6th outlet in the city with two more on the anvil. MFCWL’s network size in the East encompasses 104 dealerships and the company hopes to expand this to 120 by year end.
The new outlet, Mukesh Automotives, is spread across 40000 sq. ft and is located at 1086/1, Madurdah, Kalikapur. It was inaugurated by Dr. Nagendra Palle, CEO, Mahindra First Choice Wheels Ltd. Yatin Chadha, Senior Vice President - Mahindra First Choice Wheels Ltd. was also present.
“Today is a very significant day for the entire Mahindra First Choice Wheels family as we inaugurate our 401st outlet in the City of Joy. This is our 16th outlet in West Bengal which is a strategic market for the company and this new showroom will help us further tap the growing demand in the region.
We are experiencing excellent demand across India, not only from tier 1 cities but from C and D category towns as well. In fact, on January 1 we inaugurated outlets in 19 D category towns, with ten located in the East alone. A large part of this success is due to the faith reposed in us by our dealers, many of whom are new car dealers seeking to leverage the growth in the used car market. This also has a positive effect on our customers who benefit from the high levels of service they bring to the industry. We are also in the process of establishing new retail formats for delivery of our technology enabled products to the consumer,” said Dr. Palle.
“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. In fact, we are best positioned in the industry to offer the ‘Brick & Click’ model. In the recent past, we have also diversified into the mini CV space with 34 outlets offering customers in rural and urban India a choice of mini CVs for personal and professional use.” said Yatin Chadha, Senior Vice President, Mahindra First Choice Wheels.
“We are honoured to be the 401st Mahindra First Choice Wheels dealership in India. Customers in Kolkata who wish to either buy or sell a used car can avail of an entire range of services, including car finance, insurance, fitment of car accessories and assistance with paperwork and documentation,” said Nitin Himatsingka, Mukesh Automotives.
The company’s footprint in West Bengal currently encompasses 20 dealerships and it further plans to expand this number to 16 outlets by year end. Key focus areas include Kolkata, Purulai, Durgapur, Sikkim, Patna, Bagha, Jhanabad, Oddisa , Mizoram, Agartala, Haflong , Arunachal & Guwahati.
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.
In keeping with its aim to empower the entire used vehicle ecosystem with technology, MFCWL has also developed a variety of products which use technology to ease used vehicle operations. These products are smart, simple, standalone tools that solve many challenges for every kind of customer including Consumers, Dealers, Financiers, Leasing companies and Manufacturers.
7 new innovative online products for the Industry and consumers
IBB Trade (www.ibbtrade.com):The simplest way to trade in your car. Get the best value for your car, when multiple dealers compete for your trade-in or sale, which means you'll receive real-time offers in a matter of 24 hrs. Just a refreshingly efficient way to get actual dealer offers on your trade-in.
IBB Tractor (www.ibbtractor.com): India first and largest pricing portal for used tractors. 21 manufacturers, 291 models covered from the year 2000. Trade-in Price, Private Price, Retail Price & CPO Price are provided for various set conditions of tractor like excellent, good, average and poor.
IBB Residual (www.ibbresiduals.com): IBB's Residual Value Tracker forecasts prices up to 5 years from the current date and provides market analysis for all passenger cars. It gives you the tools you need to make well informed and more accurate decisions when buying or disposing of your vehicles.
IBB VinCheck (www.ibbvincheck.com):The easiest way to check and identify the make, model, year and month of manufacture of a car. This is used for buying and selling or simply research.
TAPP (www.testridez.com)- The test drive application is both web and mobile based. It is used to feed car dealers with test drive leads generated from the test drive website and various LMS programs
YMS – Our Yard Management Services supports clients in their vehicle life cycle management from repossession to disposal through various technological interventions to restrict theft and missing parts and also manage the condition of the vehicles in the yard.
Can DO - A mobile based software for used vehicle inspections, which enables the field executives to inspect and evaluate the vehicles by themselves. The Can DO platform is used for inspecting all 2W, 3W, CV, FE and cars
About Mahindra First Choice Wheels
Mahindra First Choice Wheels Ltd. (MFCWL) 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.
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. To give complete peace of mind to the used car buyer, the company has Warranty products like WARRANTYFIRST, CERTIFIRST and CERTIFIRST+.
Subject to specific terms and conditions, WARRANTYFIRST provides Warranty for all 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 while CERTIFIRST+ covers for a period of 12 months or 15000 kms, whichever is earlier.
The Warranty products come with the facility of 24X7 Roadside Assistance across the country. The 24x7 Roadside Assistance, subject to specific terms and conditions, assures the certified used car buyer that should the car breakdown, he will be provided assistance.
The Warranty product gives tremendous peace of mind to buyers of certified used cars. Mahindra First Choice has a website - www.mahindrafirstchoice.com - which provides complete assistance to customers wishing to buy or sell a car. Mahindra First Choice also has retail finance relationships with major banks like Mahindra Finance, HDFC, Kotak Mahindra and ICICI Bank for helping consumers buy their dream cars through loans.
Mahindra First Choice Wheels Ltd. also has a significant presence in the online space. Through its ‘Autobid’ auction platform it has sold more than 1.5 lakh vehicles till date.
The company has also launched a new product, the Indian Blue Book (IBB) (www.indianbluebook.com), which is the most comprehensive unbiased resource for consumers and dealers to determine the value of their used cars.
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 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 in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two 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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