Mahindra First Choice Wheels eyes 35% growth this fiscal

Company targets to sell over 1 lakh units of used cars by FY15

As consumer trends are changing and more people are opting for organised players in the market, Mahindra First Choice Wheels (MFCW), the multi-brand used-cars offering from the Mahindra & Mahindra stable, today said it will grow at 35% this fiscal.

MFCW is eyeing to sell 65,000 vehicles as against 46,000 last year, with the company offering a host of services to the consumers including the most reliable used car pricing guide in the industry.

By FY15, the company targets to sell over 1 lakh units of used cars.

This year the company will be growing at 35%, selling over 65,000 vehicles of various brands, M&M president for Corporate Services, After-Market and group HR, Rajeev Dubey told PTI over the phone.

The over five-year-old company, the largest multi-brand operator in the used-car space with 285 outlets at present, will be closing the year with 350 outlets, he said, adding that the company has launched a website, which gives valuation of 250 different car brands with 2,200 variants of cars from 1991 onwards.

Projections are that by FY'17 used market should be twice the size of the new car market. As the pre-owned car market is brimming with choices, but with semi-organised market also teeming with unscrupulous sellers and unorganised players dominating, Dubey said the trend was changing, as more and more players come into the organised used-car market.

Apart from expanding the network, the company is also focusing on offering new products such as recently launched two new warranty products named WarrantyFirst and Certifirst to drive the sales growth.

M&M's multi-brand servicing workshop -- MFCS (Mahindra First Choice Services) -- launched its workshop in Ludhiana today.

The facility, which was inaugurated by Dubey, is spread over 25,000 sq ft with 16 bays and a monthly capacity of servicing 1,000 plus cars of various brands.

With over four lakh cars, Ludhiana is one of the largest industrial hubs in the country and has been growing at an exponential pace over the last few years, Dubey said, adding: "We saw immense potential in this market and were delighted to offer car owners in the Ludhiana city a world class servicing experience".