Mahindra First Choice to expand used car business, plans to run 350 outlets by 2015
Last Updated at
- 09:04 am, July 16, 2012
The company will invest Rs 250 crore to add around 200 outlets in the next three years.
Mahindra First Choice, India’s first multi-brand pre-owned car firm, is strongly planning to expand its presence in the country’s used car market. According to a top official of the Mahindra & Mahindra group, the company, which is currently running over 150 outlets, plans to take the number up to 350 by 2015.
Rajeev Dubey, Mahindra & Mahindra's president, group HR, said, “Our target is to build, for used vehicles, an eco-systems similar to what India now has in new cars. M&M's after market vertical comprises sales, services and spares. The first is addressed by Mahindra First Choice Wheels where we would like to increase our outlet footprint to 500 by 2015. The second is addressed by Mahindra First Choice Services where we would like to increase our outlet count to 350-375 by 2015.”
In terms of market presence, Mahindra First Choice has a nationwide network of showrooms across major cities like Mumbai, Delhi, Chennai, Hyderabad and Jaipur. The company sold 34,000 cars last year and is planning to sell 100,000 cars by 2015. Mr. Dubey said the company is also looking to come out with an IPO by 2015 to fund its expansion plans.
First Published on 09:04 am, July 16, 2012
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