M&M launches new business vertical

This sector will comprise of three business units which include First Choice Ltd's multi-brand service chain and sale and purchase of pre-owned vehicles and spare business for both Mahindra and non Mahindra spares.

The sector will be headed by Rajeev Dubey, who will continue to discharge his present responsibilities, which include president HR, After Market and Corporate Services, member of the group management board etc.

"With the growing population of vehicles in India (6 million cars currently, expected to grow to 17 million by 2015), there is vast untapped potential in the after-market space covering multi-brand pre-owned vehicles, servicing, spares, and the financial instruments and exchange platforms which support this value chain.

"In order to create, in the organised sector, a business ecosystem, which replicates the ecosystem for new vehicles, I am happy to announce the formation of the After-Market Sector," said Anand Mahindra, Vice Chairman & Managing Director, Mahindra Group.

"In India, the car servicing market mainly comprises authorised repairers and independent garages Our market research has shown that car owners would prefer a service outlet such as ours with a value proposition built on trust, customer experience and convenience,"said Rajeev Dubey, President (HR, After-Market & Corporate Services) & Member of the Group Management Board Mahindra & Mahindra Ltd.