Mahindra First Choice Wheels opens 200th outlet
GK NEWS NETWORK
Srinagar, Nov 4: Mahindra First Choice Wheels Ltd (MFCWL), India’s leading 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 Anand Mahindra, Chairman and Managing Director, Mahindra Group, in a statement here.
“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 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. .
Lastupdate on : Sun, 4 Nov 2012 21:30:00 Makkah time
Lastupdate on : Sun, 4 Nov 2012 18:30:00 GMT
Lastupdate on : Mon, 5 Nov 2012 00:00:00 IST
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