Mahindra & Mahindra (M&M) said that it wishes to increase the outlets for its used car division, Mahindra First Choice, to 500 by March 2015. This plan also includes 10 outlets that are to be set up in Jammu & Kashmir. Mahindra First Choice Wheels Limited (MFCWL) wishes to achieve a growth rate of 35 per cent in the year 2012.
Commenting on the increase, MFCWL President (Corporate Services) Rajeev Dubey said, "The company is planning to raise the number of its outlets in the country to 500 by March, 2015. This includes 10 outlets in Jammu and Kashmir in the next one and a half-year." In Jammu & Kashmir, a sale of 2,500 used vehicles takes place every month. Dubey also feels that since the number of new models are increasing in the market, the ownership period for an older one is also going down.
As part of the MFCWL's certification process, each car is required to go through an extensive 118-point quality checklist by an experienced engineer, based on which it is refurbished and made suitable for sale. The objective of the company is to organize the used car market and provide customers with good quality used cars. New warranty products, named as 'Warrantyfirst' and 'Certifirst' have also been revealed, for giving an additional peace of mind.
Currently, the used car vehicle showroom is present in 115 cities, which is expected to go up to 125 by the end of FY 2012-13. At present, 214 outlets are present across these cities, and these outlets are expected to go up to 260 by the end of the same period.
