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MahindraFirst Choice Wheels Ltd (MFCWL) plans to double its network over the next 12 months to 1,500 outlets.
According to a press statement from the company, it has sold over 3 lakh vehicles through an auction platform. It works on a franchisee driven business model. It has also launched a new product called the Indian Blue Book, which is a used car pricing guide that incorporates transaction data with an analytical engine.
“Mahindra First Choice Wheels continues its endeavour of building a brick & click model for the used car industry. Last year, we also auctioned used vehicles online from over 1,000 different locations making us the largest online wholesale network in the country. We believe this comprehensive approach of using our physical network in conjunction with our online channels will help us build a long term sustainable business while organizing a largely unorganized used vehicle industry in India,” said Rajeev Dubey, Group President (HR & Corporate Services) & CEO (After-Market Sector), Member of the Group Executive Board, Mahindra & Mahindra Ltd.
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