Mahindra First Choice Wheels Ltd. (MFCWL), India's No. 1 multi-brand certified used car company, today inaugurated its first commercial vehicle outlet in Shimoga. This is the company's 130th dealership in the zone and 705th in the country.
The new outlet, Tristar India Trading and Services Pvt Ltd, is spread across 9000 sq. ft and is located near New Mandli Circle, N.T.Road, Shimoga-577202. It was inaugurated by Dr. Nagendra Palle, MD & CEO Mahindra First Choice Wheels Ltd.
"We are delighted to expand our rapidly growing network in Karnataka with the inauguration of this new dealership in Shimoga. This is the company's first franchisee for multi-brand commercial vehicle. This is a new step for creating a space in used commercial vehicle segment along with our used car ecosystem. We are enhancing and leveraging our physical and online presence and are best positioned in the pre-owned car industry to deliver a "Brick and Click" synergy interface for a unique customer experience. South India is a strategic market for Mahindra First Choice Wheels and we look forward to creating value for all our stakeholders across the value chain through innovative and industry-first products and services. Our strong franchisee network will also play an important role in helping us fulfill this goal," said Dr. Nagendar Palle at the inauguration.
"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 vehicle ecosystem by bridging the wholesale and retail channels while leveraging physical and online infrastructure. Now we have entered the used multi-brand commercial vehicle for creating a better consumer experience in this space," said Tarun Nagar, Vice President-Retail business, MFCWL.
"Mahindra First Choice Wheels is already an established brand name in the country. Tristar India Trading and Services Pvt Ltd. will offer the entire range of services for customers, including purchase and sale of multi-brand used commercial vehicle, multi-brand certified used cars, car finance, insurance, fitment of car accessories and assistance with paperwork and documentation to all those wishing to purchase or sell used commercial or passenger vehicles," said Mr. Ashik Basha, MD- Tristar India Trading and services Pvt Ltd.
MFCWL has also developed a variety of industry first products which use technology to ease used vehicle operations. The company has recently launched seven innovative products which are smart, simple, standalone tools that solve many challenges for every kind of stakeholder including consumers, dealers, financiers, leasing companies and manufacturers.
From humble beginnings in 2007 when its first franchisee outlet was established, MFCWL has achieved a dominant status in retailing of multi-brand used cars across the country. The company’s footprints currently encompass 705 dealerships and it plans to expand this number to 1000 outlets in next fiscal year. 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.
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 705 outlets spread across 325 locations in the country which includes metros, mini metros and smaller towns. The company has been growing at a rapid pace with a CAGR of 35% by volume over the last 5 years.The cumulative retail footprint under Mahindra First Choice brand is in excess of 8.5 lakh sq feet
- The company has created a unique franchisee driven business model, which is globally the first of its kind, and is on a mission to transform the way used cars are retailed in the country. It was 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 3 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
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