Multi-branded pre-owned car company Mahindra First Choice Wheels is targeting a growth of 40 per cent in the next financial year. The company plans to sell 40,000 cars by the end of this year pan-India, which is around 40 per cent growth over the previous year’s sales of 28,000 units, Rajeev Dubey, president, (group HR and after-market) said.
Launching its first company-owned superstore here, Dubey said the new car market had remained flat this year, whereas the used car market had grown 18-20 per cent. It hopes to sell 100,000 units per year by 2015.
The size of the pre-owned car market is estimated to be about 2.1 million vehicles per year. The company is planning to open 350 outlets in the next three years. Currently, it has 140 outlets in over 70 owns car mart. It hopes to open 180 outlets by the end of this financial year.
The Hyderabad superstore is the company’s second such store in south India after Chennai. The pre-ownd car market in Hyderabad stands at 4,000-4,500 cars per month. Mahindra First Choice plans to sell over 1,000 cars in Hyderabad by the end of this fiscal.
"From this particular store, we expect to sell 150 units per month," he said. The company plans to set up outlets at key places in the country, in major towns and cities, including Tier II and Tier III cities.