Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jul, 15 2015

Approx 60% of Mahindra First Choice customers are first time buyers

Mahindra First Choice Wheels Limited (MFCWL), a wholly owned subsidiary of Mahindra & Mahindra Ltd opened a new dealership at Derabassi in Punjab.

Approx 60% of Mahindra First Choice customers are first time buyers

Mahindra First Choice Wheels Limited (MFCWL), a wholly owned subsidiary of Mahindra & Mahindra Ltd opened a new dealership at Derabassi in Punjab. It will widen its base in Punjab by opening two more dealerships in Pathankot and Amritsar. The brand is anticipating a momentous increase in its share in the used car market. It shall add 180 outlets this fiscal. Presently, it has 520 outlets across metros, mini-metros and smaller towns.

The used car industry has shown a rapid growth in developed markets. Sharing a word on this, Nagendra Palle, Managing Director, MFCWL said, “The used car industry is growing at 20 % annually. As far as developed markets are concerned, second hand car business is at least three times than that of new cars. Approximately 60% of our customers are first time buyers.”

From its humble beginnings in 2007 when its first franchise outlet was established, MFCWL has achieved a dominant status in retailing of multi-brand used cars in the country. Commenting about the increasing sales of MFCWL, Anand Mahindra, Chairman and Director, Mahindra Group said, “Mahindra First Choice Wheels has outperformed the new car market in terms of growth. By creating an eco-system in the used car market that mirrors the one in the new car market, it has emerged as the brand of choice for used car buyers who appreciate the trust and transparency.”

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Others Food Service
      Charcoal Grilled Chicken: All Dishes are cooked over charcoal, which..
    Locations looking for expansion Haryana
    Establishment year 2010
    Franchising Launch Date 2017
    Investment size
    Space required 500
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater Faridabad Haryana
  • Skills / Personality Development
    About Us: Tally Brains are a TNP based registered firm that..
    Locations looking for expansion CHHATTISGARH
    Establishment year 2013
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater RAIPUR CHHATTISGARH
  • Fine Dine Restaurants
    About Us: Manbhavan means ‘pleasing mind’. True to its name, we..
    Locations looking for expansion Haryana
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 1400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Juices / Smoothies / Dairy Parlors
    Format Investment Brand Fee Space Staff Exp. Monthly Sales Pro..
    Locations looking for expansion Gujarat
    Establishment year 1988
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Surat Gujarat
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities