November 9, 2011: Mahindra First Choice Wheels (MFCW), India’s largest multi-brand pre-owned car company inaugurated its first company owned SuperStore in Hyderabad. The Superstore is located at Kondapur Main Road, near HITEC City, Hyderabad’s IT hub.
The new SuperStore was inaugurated by Mr. Rajeev Dubey, President (Group HR & After-Market) and Member of the Group Executive Board, Mahindra & Mahindra Ltd.
"We are delighted to open our first company-owned multi-brand SuperStore in Hyderabad. This is our second SuperStore in the South, after the Chennai outlet which was inaugurated recently. With this new SuperStore, we will have five outlets in the city with further plans to expand in Hyderabad and to open at least one in each of the key towns in Andhra Pradesh."
The Store will display a wide range of cars across segments and will ensure a great customer experience. It will offer an array of services under one roof, including purchase and sale of pre-owned cars, car finance and insurance, fitment of car accessories and assistance with paperwork and documentation, in a comfortable ambience.
The SuperStore format offers a new and refreshing sales experience for customers with its innovative and customer-centric approach. It will display vehicles right from the entry level to premium cars.
The very first Mahindra First Choice Wheels SuperStore was inaugurated in Mumbai in August 2007 and the company presently has a chain of ten such SuperStores across India, with a few more to be launched in the coming months. Apart from Hyderabad and Chennai, the company plans to open several more such SuperStores in the South. The company expects to have a national network of about 180 outlets, including franchisees by the end of this fiscal.
Andhra Pradesh market
The ratio of new to pre-owned cars in Andhra Pradesh is 1:1, while the pre-owned car market in Hyderabad stands at about 4,000 – 4,500 cars per month.
Mahindra FirstChoice Wheels plans to sell over 1,000 cars in Hyderabad by the end of this fiscal. Nationally, the company plans to sell over 40,000 cars which represents a growth of 40% over the previous year.
The size of the Indian pre-owned car market is estimated to be about 2.1 million vehicles per year. This market is growing at the rate of approximately 20 per cent annually, indicating great potential for organized players such as MFCW.
The Mahindra FirstChoice value proposition
Mahindra First Choice Wheels is the country’s preferred pre-owned car mart and is India’s only organized multi-brand player, with 140 outlets in over 70 towns across India. The company plans to expand this number to more than 350 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.
Mahindra FirstChoice also offers 24x7 Road Side Assistance and warranty on certified pre-owned cars. The warranty, subject to specific terms and conditions, covers the important parts of the car. The 24x7 Road Side Assistance, subject to specific terms and conditions, assures the certified used car buyer that should the car break-down, he or she will be provided assistance. This warranty and road side assistance gives tremendous peace of mind to buyers.
Mahindra FirstChoice also has retail finance relationships with major banks and NBFCs in the country. 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
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, vacation ownership, rural and semi-urban financial services, etc. Mahindra has a significant and growing presence amongst others, in the automotive industry, agribusiness, aerospace, automotive components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A US $12.5 billion multinational group based in Mumbai, India, Mahindra employs more than 1,37,000 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. For four years in a row, Mahindra has featured in the Forbes Asia’s Fab 50 List of the 50 best publicly traded companies in the Asia-Pacific regions. 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. Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure (CDP). In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
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