Mar
24
2010
Press Release

Mahindra First Choice and TVS announces tie-up.

March 24, 2010, Chennai : Mahindra FirstChoice Wheels Ltd., India’s largest multi-brand, pre-owned car company, today announced the launch of their national 24x7 roadside assistance programme in association with MyTVS. This new service was launched by Mr. Rajeev Dubey, President (HR, After-Market & Corporate Services) & Member of the Group Management Board, Mahindra & Mahindra Ltd. and Mr. R. Dinesh, JMD - TVS.

The car service division of TVS & Sons, MyTVS is India’s leading roadside assistance provider for cars and boasts of a wide service network, including a dedicated 24x7 call centre.

"As India’s largest multi-brand, pre-owned car company, we constantly strive to improve the value that we provide our customers. We are delighted to partner with MyTVS, the pioneers in the roadside assistance business, to offer Mahindra FirstChoice customers with 24x7 roadside assistance across the country," said Mr. Rajeev Dubey, President (HR, After-Market & Corporate Services) & Member of the Group Management Board.

"We are proud to be associated with Mahindra FirstChoice Wheels which is known for its customer focused approach to business and stringent quality standards. With a pan India presence covering 20 states, MyTVS has strong network infrastructure and 2500 Authorised Service Providers in 1400 towns and cities which implies that we can reach out to customers in distress wherever they may be," said Mr. R. Dinesh, JMD - TVS.

The service under the warranty programme would be applicable for certified cars with a warranty period of one year or 15,000 kms, whichever is earlier. One automatically becomes eligible for the national 24x7 roadside assistance programme on purchase of a certified pre-owned car from Mahindra FirstChoice Wheels. The customer is presented with a commitment card which covers both warranty and roadside assistance, ensuring peace of mind. This is an industry first.

In case of an emergency, all one has to do is to dial our toll free helpline number 1800 266 6006 and brief the call centre executive with regard to the specific vehicle problem. MyTVS will then arrange for one of its Authorized Service Providers to reach the spot and attend to the problem. Apart from 24x7 roadside assistance, customers may avail of services related to emergency towing assistance, cab arrangement, key lock out, minor electric and mechanical failure, wheel changing, arrangement of emergency fuel etc. This service is available 24 hours a day and 365 days a year, not only within city limits but on ghats and highways as well. The average reach time for the service in city limits is 45 minutes and for out of city limits is 90 minutes.

Mahindra FirstChoice is the country’s preferred pre-owned car mart and is India’s only organized multi-brand player, with 118 outlets in 74 towns across India. The company plans to expand this number to 300 outlets in the next three years. This implies that customers will soon be able to choose from a range of certified pre-owned cars throughout India, including the metros and tier-2 towns and cities.

Innovation has always been the hallmark of FirstChoice which was the first to introduce ‘Bumper to Bumper’ Warranty and 24/7 roadside assistance, setting high benchmarks in the pre-owned car market. The Mahindra FirstChoice website www.mahindrafirstchoice.com offers consumers the luxury of buying and selling pre-owned cars from the comfort of their own homes.

MyTVS is part of the renowned TVS group which is known for its core values of quality, service and reliability. A multi-brand car service network focusing on the car customer and his latent needs, MyTVS aims to cultivate a focused, no frills service solution as an independent option to discerning car customers across the country.

The bouquet of customer centric businesses offered under the MyTVS brand are MyTVS All Car Services for multi-brand car services and MyTVS 24 x 7 Emergency Services which ensures emergency roadside assistance for mechanical and electrical breakdowns, ambulance, cabs, winch and towing and legal coordination assistance across India (except Jammu and Kashmir and the North-Eastern States). For more information, please visit www.mytvs.in.

About The Mahindra Group

Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $6.3 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.

Mahindra is the only Indian company among the top tractor brands in the world and has made an entry in the two-wheeler segment, which will see the company emerge as a full-range player with a presence in almost every segment of the automobile industry.

The Mahindra Group expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.

Mahindra's Farm Equipment Sector is the proud recipient of the Japan Quality Medal, the only tractor company worldwide to be bestowed this honour. It also holds the distinction of being the only tractor company worldwide to win the Deming Prize. The US based Reputation Institute ranked Mahindra among the top 10 Indian companies in its Global 200: The World's Best Corporate Reputations list.

Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008- 09.

 

With MyTVS - HINDU BUSINESS LINE, CHENNAI - 25.03.2010

With MyTVS - DAINIK NAVJYOTI, CHENNAI - 25.03.2010

With MyTVS - The Hindu, CHENNAI - 25.03.2010

With MyTVS - RAJ EXPRESS, CHENNAI - 25.03.2010

With MyTVS - ECONOMIC TIMES, CHENNAI - 25.03.2010

With MyTVS - BUSINESS STANDARD, CHENNAI- 25.03.2010

With MyTVS - TIMES OF INDIA, CHENNAI - 25.03.2010

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An article by Mahindra FirstChoice No Comments
Mar
23
2010
News & Events

Automakers Fume over lack of Clarity on Emissions Deadline

The Hindu Business Line

The automobile industry believes that the consequences of clean fuel not being available across the country from April 1, 2010 could be "nothing short of a catastrophe for cars, trucks and utility-vehicles."
 
According to a Supreme Court directive, 14 cities will have to graduate to Bharat Stage IV (from the prevailing BS III) emission norms while the rest of the country will correspondingly move upwards to BS III from BS II on that date.
 
Indications are that while there should be no problems meeting the needs of the 14 cities with cleaner diesel and petrol that will comply with BS IV norms, it is going to be a different ballgame for the rest of the country.
 
To that extent, the oil refiners are keeping their fingers crossed about a possible extension to the deadline, preferably October 1, when BS III-compliant fuel will be freely available.
 
It is this ambiguity that has had the automobile industry terribly worried.
 
"There is not much time between now and April 1, 2010 and we can only hope that we are given sufficient notice in the event of any delay in availability of fuel," auto industry sources
 
This is because manufacturers would need time when it comes to readying the right tooling, equipment and parts for the next generation of BS IV vehicles.
 
Needless to add, costs are another critical aspect especially at a time when companies are cutting back on investments. "We cannot afford to see good money go down the drain," an auto sector official said.
 
What is equally scary is the prospect of all three fuels – BS II, BS III and BS IV – being retailed simultaneously in the country.
 
From the viewpoint of automakers, it would be a near impossible task to produce different categories of vehicles in their plants especially when new BS II models will, by legislation, become irrelevant eventually. "How can we possibly work in such a ridiculous setting," the official asked.
 
At present, it increasingly looks as if availability of BS III fuel would be a "serious issue" from the viewpoint of the April 1, 2010 deadline, which could then result in the present BS II range of vehicles continuing to be produced and sold. This is, of course, conditional to the Supreme Court agreeing to the date being deferred.
 
Assuming that this scenario does indeed pan out on these lines, BS IV vehicles driven beyond the 14 cities cannot be fuelled with BS II petrol or diesel. "It could cause immense damage to the emissions equipment fitted in these vehicles because there is a world of difference in the sulphur content when it comes to BS II and BS IV," sources said.
 
On the other hand, there would not be an issue with BS III and BS IV fuels coexisting, as is the present case with BS II and BS III. Here, the difference in quality is not as dire for critical parts in the vehicle to be so badly hit.
 
What then is the best bet to avoid such a muddle? Automakers believe that it makes perfect sense to have the April 1, 2010 deadline deferred by six months or even a year if the issue of fuel availability is not sorted out.
 
"It is not the end of the world should the date be deferred to October 2010 or even January 2011. India is still ahead of most countries in this part of the world when it comes to stiff emission norms," sources said.
 
Of course, convincing the Supreme Court is the biggest challenge. Further, insiders say that it is high time that there is better coordination between the Ministries of Road Transport and of Petroleum and Natural Gas on this important issue.
 
"Nobody really appreciates the gravity of the problem. If the oil industry is not ready, the auto sector is more than willing to wait," sources said
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An article by Mahindra FirstChoice No Comments
Mar
22
2010
Press Release

Another Franchisee in Mumbai - Mira Road

March 22, 2010, Mira Road : Mahindra First Choice Wheels Ltd., India’s largest multi-brand pre-owned car company, today announced the inauguration of its new authorized dealership at Mira Road. Angel Auto is spread across 3,500 sq. ft and will display a variety of car brands. It was inaugurated by Mr. Shubhabrata Saha, CEO, Mahindra First Choice Wheels Limited.

"We are proud to open our very first authorized dealership at Mira Road. Customers can avail of an array of services under one roof. These include purchase and sale of pre-owned cars, car finance and insurance, fitment of car accessories and assistance with paperwork and documentation,” said Mr. Shubhabrata Saha, CEO, Mahindra First Choice Limited.

"We are delighted to partner with Mahindra FirstChoice and provide customers at Mira Road with a wide variety of options when it comes to purchase and sale of cars. Angel Auto will function as a one-stop shop for all those wishing to either buy or sell a car,” said Mr. Hemant Dave, Angel Auto.

The Mahindra FirstChoice value proposition

Mahindra FirstChoice is the country’s preferred pre-owned car mart and is India’s only organized multi-brand player, with 118 outlets in 74 towns across India. The company plans to expand this number to 300 outlets in the next three years. This implies that customers will soon be able to choose from a range of certified pre-owned cars throughout India, including the metros and tier-2 towns and cities.

Tremendous attention to detail is required to ensure that each pre-owned 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, every 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 mint condition.

In short, buying a pre-owned car from Mahindra FirstChoice offers several advantages, including quality assurance, safety and a hassle-free driving experience.

Innovation has always been the hallmark of Mahindra FirstChoice which was the first to introduce warranty on cars which has now become a benchmark for other pre-owned car players.

Mahindra FirstChoice also has retail finance relationships with major banks and NBFCs in the country. As an industry first, Mahindra FirstChoice has recently partnered with Syndicate Bank to offer consumers finance rates comparable to those for new cars.

Mahindra FirstChoice also has a website - www.mahindrafirstchoice.com - which offers consumers the luxury of buying and selling pre-owned cars from the comfort of their own homes.

About The Mahindra Group

Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $6.3 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.

Mahindra is the only Indian company among the top tractor brands in the world and has made an entry in the two-wheeler segment, which will see the company emerge as a full-range player with a presence in almost every segment of the automobile industry.

The Mahindra Group expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.

Mahindra's Farm Equipment Sector is the proud recipient of the Japan Quality Medal, the only tractor company worldwide to be bestowed this honour. It also holds the distinction of being the only tractor company worldwide to win the Deming Prize. The US based Reputation Institute ranked Mahindra among the top 10 Indian companies in its Global 200: The World's Best Corporate Reputations list.

Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008 - 09.

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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

Volkswagen on Expansion Spree in South Delhi

The Pioneer

Volkswagen India launched its first major dealer showroom in up market South Delhi recently. The announcement of Volkswagen Delhi South in South Extension 1 comes at a time when the company is expected to witness an upsurge in demand from the launch of the first Volkswagen car produced in India , the new Polo.
 
"We are pleased to partner with Volkswagen and look forward to building strong relationships with our premium customers by offering them Volkswagen,s global standards & state of the art facilities, " said SS Bhasin, Dealer Principal Volkswagen Delhi South & MD Bhasin Motors.
 
Neeraj Garg, Director Volkswagen Passenger cars reiterated Volkswagen's strong focus on widening their presence across key markets & supporting their customers with prompt & efficient services.
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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

Nissan Ropes in Ashok Leyland to take on VW's Small Cars

Business Standard

Although the broad contours of the proposed agreement with Ashok Leyland to build a range of small cars is yet to be outlined, Nissan’s intention is clear — counter Volkwagen’s plans with Suzuki to target the compact car segment.
 
Nissan is currently in a sourcing pact with Suzuki for the compact car, Pixo (known here as the Maruti A-star), which it sells in the European market. This pact, however, may not get extended after its expiry in 2012, as Germany-based Volkswagen, which has its own set of aggressive plans with Suzuki (it recently bought a 20 per cent stake in it), would likely block the latter’s plans with Nissan.
 
The demand for small and fuel-efficient cars had zoomed in the European region as well as across key markets of the globe over the past few years. Nissan would perhaps be left with just one small car, Micra, in Europe when the deal with Suzuki draws to an end.
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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

Auto Sales continue on Fast Lane in Feb too

The Hindu Business Line

The domestic auto industry posted, in February this year, the highest-ever overall unit sales in a single month, surpassing a similar record set in just the previous month of January.
 
Individually, nearly every segment except commercial vehicles (CVs) and goods three wheelers have recorded the highest ever monthly sales.
 
Besides a return of confidence in the market, which has underlined the steady sales growth of the last few months, the main reason for February's good show is the early purchases by customers due to expectations of a price hike post-Budget. Other reasons like availability of cheap finance also helped.
 
Incidentally, auto sales are expected to remain strong through March with pre-buying due to another price hike expected in April. Manufacturers are expected to raise prices to offset the cost of engine upgradation for meeting the new emission norms that come into force from April onwards. While 13 cities will move to Bharat Stage (BS) IV norms, the rest of the country will shift to BS III norms. According to data by the Society of Indian Automobile Manufacturers (SIAM), the passenger car segment has posted a 33 per cent growth in domestic sales at 1,53,845 units in February 2010, over the same month last year.
 
Meanwhile, overall sales across the industry grew 35 per cent. Besides setting a similar record last month, the last such record of highest ever monthly overall sales was achieved more than three years back in October 2006.
 
"The good growth in sales is because of advancing of purchases by buyers due to expectations of a price hike after the Budget. Also, there is now confidence in the growth of the Indian economy. However, CVs and goods three wheelers have not performed at par with the other segments. Every segment, except these two, have seen the highest-ever monthly sales,” Mr Dilip Chenoy, Director General, SIAM told Business Line.
 
However, he warned that a contraction of money supply post the Reserve Bank of India's policy review in April, may lead to an interest rate hike and slow down the growth in the industry.
 
Individually, the umbrella passenger vehicle segment posted a 34 per cent growth in February, while the CV segment grew 87 per cent. The two wheeler and three wheeler segments rose 33 and 32 per cent, respectively.
 
Among major carmakers, Maruti Suzuki, Hyundai Motor and General Motors individually announced their best ever sales in February. Market leader Maruti Suzuki's sales increased 18.20 per cent as Hyundai Motor India posted a 46.14 per cent growth in the month. Meanwhile, Tata Motors' sales rose 48.03 per cent.
 
Motorcycle sales rose 30.72 per cent to 6,42,419 units in February. Market leader Hero Honda's sales were up 13.91 per cent, while Bajaj Auto's sales zoomed 94.23 per cent in the month. Meanwhile, TVS Motor Company and Honda Motorcycle & Scooter India (HMSI) posted a growth of 34.70 per cent and 23.87 per cent respectively.
 
Scooter sales jumped 44.72 per cent as market leader HMSI's sales rose 19.96 per cent. TVS Motor's scooter sales were up by 37.89 per cent in the same period.
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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

Third model

“The Q5 will play an important role in the future market of India,” he said. The company currently assembles the A4 and A5 models at its Aurangabad plant while other models such as A8, TT, Q7 and R8 are imported as completely built units.
 
Audi reported a 39 per cent fall in the profit after tax at € 1.34 billion on account of a 5.4-per-cent decline in the global sales at 9.5 lakh cars. The drop in deliveries due to global financial crisis, particularly in the European and the North American markets, led to a revenue decline of 12.7 per cent to € 29.84 billion.
 
For Audi, China remains the biggest overseas market with 1.59 lakh unit sales in 2009 while India is ninth in terms of volume. Globally, Audi bets big on the upcoming compact model A1, which has an electric power train, Audi e-tron, too. The company unveiled A1 at the Geneva Motor Show last week. Mr Stadler said the company plans to produce 50,000 units of A1 at its plant in Brussels, Belgium. He said that the company aims to sell a million cars in the current year, the figure it had achieved in 2008.
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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

India is Our Future Market: Audi Chief

The Hindu Business Line

The Audi Chairman, Mr Rupert Stadler, calls India the future market for the German luxury carmaker. The company is expecting a 10-fold leap in sales in India in the next 10-15 years.
 
"Why do I call it a future market? The Indian economy will experience a higher rate of growth than any other national economy until 2030. There are already two million households (in India) with an annual income of more than $1,00,000.
 
That tally of households is growing at an annual rate of 14 per cent. In 10-15 years, Audi has the potential to be selling as many cars in India as in Japan,” said Mr Stadler at the Audi annual press conference at Ingolstadt, near Munich, on Tuesday. Audi sold close to 16,000 units in Japan in 2009.
 
The company sold 1,658 units in India in 2009, reporting a 58-per cent sales growth. This year the company targets to double the sales by starting the local assembly of a third model – the sports utility vehicle Q5 – from June 2010.
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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

Honda Rolls Out Jazz Select Edition

The Financial Express

Honda Siel Cars India has launched a ‘select edition’ of its premium hatchback model, Jazz, in addition to its current range. The select edition is priced at Rs 7.21 lakh (ex-showroom New Delhi). Currently, the range extends from Rs 7.11 lakh to Rs 7.46 lakh (ex-showroom New Delhi). The select edition will have alloy wheels with additional features like rear parcel shelf. The company said the despatches of the select edition will be available at the outlets from next week.
 
The Jazz comes with a 1.2 L i-VTEC engine in five-speed manual transmission. The car was introduced in the country in June 2009. According to a recent SIAM report, the company sold 233 units in February, lower than January 490 units. For period extending April-February 2010, the company has sold 6,970 units.
 
Jazz, due to its pricing, had come into a lot of criticism, with experts doubting the success of the car in the market. It has been of late seeing a slip in demand, which they say is due to the high price tag.
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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

Figo Arrives, But too Late?

Hindustan Times

Ford Motor on Tuesday opened a new chapter in automobile price wars in the country.

 

The company launched its maiden small car in India, the Figo, with an aggressive price tag ranging between Rs 3.5 lakh for the entry-level petrol vehicle, and Rs 5.3 lakh for the top-end diesel variant.

 

Figo is the second car to be launched this year with an entry price of less than Rs 3.5 lakh — a price segment that has seen little action since General Motors introduced the Spark three years ago.

 

GM launched its second car in the segment, the Beat, earlier this year. Ford expects to create ripples in the market primarily on its pricing strategy, much the same as GM.

 

“Without a small car we were out of 70 per cent of the market,” said Michael Boneham, managing director, Ford India. “Now that the Figo is here, this is just the start.”

 

The Figo compares favourably with competitors on pricing and performance, but along with the Beat, its rock-bottom pricing indicates very low margins for the company and an intensification the battle for a slice of the compact car segment.

 

The offerings of the two heavyweights of domestic car industry, Hyundai (i10 kappa, i20) and Maruti (Swift, Ritz), in the segment now end up more expensive.

 

The Polo, which Volkswagen launched last month, too looks way off the mark now, with a starting price of Rs 4.42 lakh. Ironically, it is the cheapest offering for India from Europe’s largest carmaker.

 

Ford claimed that despite the aggressive pricing, the Figo is not a loss-making proposition, even while remaining non-committal on margins.

 

With an all-new small car B platform in the making and more cars set to roll from their factory, the benchmark in pricing is likely to plunge further.

 

“We are not in the business of losing money,” said Joe Hinrichs, president, Ford Asia, Pacific and Africa. “We are going to keep competing at lower price points.”
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An article by Mahindra FirstChoice No Comments
Mar
17
2010
News & Events

Daimler Confirms Sale of Tata Motors Stake

The Hindu Business Line

Daimler, the German maker has finally confirmed it had sold all of its 5.34 per cent ordinary shares of Tata Motors to various investors, bringing it in a tidy cash inflow of €300 million.
 
The German firm has established itself firmly in the Indian market, making the need for Tata as a partner effectively redundant. Daimler said that in the first two months of 2010 sales of Mercedes Benz in India nearly doubled and that it intended to grow at a double digit rate for the year as a whole.
 
Daimler's truck division – Daimler India Commercial Vehicles Ltd - is also building a plant in Chennai which is expected to begin production in 2012.
 
“Daimler is in an excellent position to capitalise on the growth potential of the Indian passenger and commercial vehicle markets and continues to intensify its own activities there,” said the company in a statement, adding that as a result having an equity stake in Tata was “no longer necessary.” “Relations between the two companies are excellent and will not be adversely affected by the sale.”
 
Some believe that Daimler's involvement in Tata had failed to deliver the opportunities they had hoped for when they first took on the stake. “Over the years they had the stake, they haven't really made any progress regarding any of the projects; so from Daimler's perspective it was essentially dead capital,” said a Munich based analyst.
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An article by Mahindra FirstChoice No Comments