Mahindra First Choice Wheels, the multi-brand pre-owned cars business of the Mahindra group, today said its sales were expected to grow by 40 per cent this year, backed by network expansion.
“We are expecting our sales to grow by 35-40 per cent in this fiscal. We have managed to sell 46,000 units in the last fiscal and expect it to be above 65,000 units in the current fiscal,” Mahindra First Choice Wheels Limited (MFCWL) CEO Nagendra Palle told PTI on the sidelines of dealership inauguration event here.
The company aims to sell 100,000 cars with 500 dealers by FY 2017, he added.
Mahindra First Choice Wheels has 263 outlets, including three COCO (Company Owned Company Operated) stores in 162 cities.
“We have added 99 outlets last year. We plan adding another 100 this year, our intention is to have 350 outlets by the end of this fiscal,” Palle said.
The company aims to expand its dealership base in cities across category by adding another 40 cities in this year.
“Growth opportunity is huge in B and C category cities as well, as there is no organised used car presence in these markets,” Mahindra First Choice Wheels Vice-President, Operations and Network Development, Yatin Chadha said.
Apart from expanding the network, the company is also focusing on offering new products such as financing schemes or insurance for customers to drive the sales growth.
“For the benefit of customers the company has recently launched two new warranty products named Warrantyfirst and Certifirst. We also have retail finance relationships with major banks and NBFCs in the country,” Chadha said.