Mahindra First Choice Wheels, the multibrand certified used car franchise chain, is strengthening its online presence to provide value added services to the business of selling used cars.
Whether the eDiig online auction platform; the Indian Blue Book, an online used car pricing guide; or autoinspekt, the third party vehicle inspection report generated after a physical inspection of the vehicle, they are all aimed at easing the process of buying or selling a used car and help make an informed decision, according to Yatin Chadha, Senior Vice President – Retail Business, Mahindra First Choice.
Addressing a press conference to announce the expansion of the franchise chain, he said initiatives that take the pain out of the transactions are driving the growth of the organised sector in used car business.
The company with 468 outlets will expand to over 500 by March end after having started out the current financial year with 351 outlets. The annual used car market is estimated at about 3.6 million units and growing at about 15 per cent.
The organised segment representing the certified used car business chains account for about 15 per cent of the business and are growing at about 22 per cent annually, according to Chadha.