In order to augment its business, Mahindra First Choice Wheels is now aiming to double its franchise outlets. The outlet that offers multi-brand used-cars from the Mahindra Group is planning to increase its numbers to 1,500 outlets by the end of this financial year.
During his interaction with media, Nagendra Palle, CEO & MD, Mahindra Group said that currently, brand’s outlets are installed in 360 towns including metros, mini-metros and smaller towns. This fiscal year, company wants to end at about 1,500 outlets, which is a pretty rapid pace of growth.
Now, Mahindra wants to further explore the market of the Northern part of the country by opening outlets in the state of Punjab, Haryana and Himachal Pradesh. Elaborating further on the move, Tarun Nagar, Vice-President, Retail Business, Mahindra Group stated that company has 106 outlets (in North) at present and it will be having 200 plus outlets by the end of this fiscal in Punjab, Haryana, J&K and Himachal Pradesh. Apart from that, company is also eyeing rural penetration in a big way. It has placed 110 outlets in what it calls D category of towns and it plans to increase this number.
Palle, who inaugurated company's 800th and first authorised dealership in Chandigarh, added that 60 per cent of company’s buyers are purchasing car for the first time. On the used car market, he said that in developed markets, second hand car business is at least three times of new cars. In India, it just crossed the ratio of 1.2:1, but there is growing demand among consumers.
